Hydr

[justintime]

Has anyone used this company for invoice factoring and can give me feedback? I'm admin for one of my clients and using a similar company at the moment, but their service isn't the best and we are having to push to get the money released most weeks. I have found out today that the client has hit the insurance limit, despite the website saying we have more than double that available. Apparently the website doesn't reflect what is actually available.

We have tried other invoice factoring but due to the low volume (which was about £4k a week) they were unable to help. The client has had loads of work chucked at them and the last two weeks have invoiced nearly 20k, hence hitting the insurance limit.
I have no qualms with the clients customer, who's credit rating is 91% and have been going 35 years.

 

[Ozzy]

Paging @Ian J as this is his area

 

[Mark T Jones]

Paging @Ian J as this is his area

Yip @Ian J is your man

 

[justintime]

Thanks Ozzy, Ian was very kind to advise me a couple of months ago when I first was looking for invoice factoring, but due to the low volume was unable to help. I managed to find the company we are using now and I think Hydr is the only other alternative. Ian gave his comments on hydr as that was one of the companies I was looking at and gave me helpful advice. I'm now looking for feedback from someone who's actually used Hydr before taking the plunge as it were.

 

[justintime]

Oh well that was short lived, Hydr don't deal with the Construction industry

 

[Ian J]

Oh well that was short lived, Hydr don't deal with the Construction industry

I'm pleased in a way as I've never heard of the company or it's directors and the last filed accounts as at 31st August 2022 are not inspiring.

I'll PM you a suggestion

 

[justintime]

I'm pleased in a way as I've never heard of the company or it's directors and the last filed accounts as at 31st August 2022 are not inspiring.

I'll PM you a suggestion

Much appreciated Ian, thank you very much