Invoice Finance breathes life into your cash flow and reduces your reliance on inflexible bank overdrafts, allowing your business to grow. We know all the key lenders that offer Invoice Discounting, Factoring and Specialist invoice finance. There are two main types of invoice Finance – Invoice Discounting and Factoring
Invoice discounting is an alternative solution to traditional types of business finance, which provides you with instant access to cash tied up in your outstanding invoices. An invoice discounting facility adapts with your business as it changes and grows, making it much more flexible than an overdraft or loan. As with invoice discounting, factoring releases up to 90% of the value of your unpaid invoices the moment you issue them to your customers. The only difference is that we collect the payments on your behalf, giving you more time to focus on the day-to-day running of your business. Specialist areas of invoice Finance that have grown over the last few year include:
Construction finance, this is advanced against your uncertified applications for payment or staged invoices. This gives you a safety net for your finances, so you don’t have to rely on payment from your customer before you can make staff and supplier payments, or take on new projects.
Selective invoice Finance, is where individual invoices are sold to a third party at a discount to raise working capital. Invoice Finance are traditionally whole turnover, meaning the company must factor their entire sales ledger. This can become expensive and not reflect the most cost effective solution for companies to raise their working capital. Many small businesses have seasonal fluctuations in cash flow and so selective invoice finance would be a much cheaper solution.
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