Credit scheme help from Towergate

A YORKSHIRE insurance broker has launched an affordable credit insurance scheme to meet the cash flow, credit and investment needs of small and medium-sized enterprises.
By The Newsroom
Published 4th Nov 2010, 11:31 BST
Updated 4th Nov 2010, 11:31 BST

Towergate Risk Solutions, based in Leeds, said that the product would be supported by leading credit insurer Atradius.

The new service provides protection toSMEs which trade on credit terms with other businesses and provides cover against losses from customers who fail to pay invoices.

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SMEs will be able to acquire affordable credit insurance in the region of 1,800.

Jonathan Webb, the regional managing director ofTowergate, said: "We believe this new facility will provide local busi-nesses affordable credit insurance at a time when they need it most."

Stephen Alambritis, chief spokesman for the Federation of Small Businesses, said: "Towergate and the FSB are playing their part as a key supporter of local small businesses.

"In these unprecedented times, the Federation of Small Businesses believes it is important to provide protection to local companies to secure the finance they need, not because of any failure in their business but due to the tougher credit conditions."

Related topics:YorkshireSMEsLeeds