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La Central De Sevilla

NoviCap offers a solutions to the liquidity problems caused by clients from the public sector with payment terms of up to 120 days

THE COMPANY

La Central are residence halls located in the heart of Seville's city centre. The accommodation has been completely refurbished but has maintained the welcoming character of the traditional houses located in the historical centre, with internal patios and fountains. What is our vision? "To take care of the place you rest, study and relax.. just like at home!" Jesús Miguel Arquero Luján tells us about how they began in 2008 with one building and 40 beds. Since then they have been growing to double the number of rooms and beds. Their main target are university students from other regions that seek accommodation during the academic year in Seville. However to make the most out of the accommodation, La Central has diversified their business model: from September to July the rooms are rented out to university student for long stays, whilst in the summer months the rooms are let out to tourists.

The need for financing

The University of Seville is one of their key clients in the public sector and imposes payment terms of up to 120 days. This generates pressures on the cash flow and liquidity for La Central and thus they are forced to seek short term financing solutions. "We reached out to both the Bank and to NoviCap, to be able to have a benchmark for comparison. The Bank requests a long list of requirements and guarantees, whilst with NoviCap we found a solution which grants us the speed and flexibility we need."

Novicap's solution

"Without a doubt, we will continue to use NoviCap's services for all outstanding invoices we have with our clients from the public sector. The customer service is impeccable, the discounting process is clear and all of our doubts have been satisfied."

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