Oxygen, which is supported by a number of mainstream invoice finance providers, was launched today (1 July) by the Factoring Advisory Service, part of the Leonard Curtis Business Solutions Group.

Paul Reeves, business development director at Leonard Curtis, said: "Many packaging businesses have suffered because of the difficult trading conditions in recent years.

"For many SMEs it has resulted in a build-up of uncomfortable levels of debt with the HMRC, key suppliers or landlords. Many businesses are struggling finding access to funding or experiencing cash management problems often due to bad debts.

"Oxygen is a cashflow finance product which directly focuses on this issue. Its primary function is to provide firms with a tailored and flexible solution which will help them deal with short-term financial issues."