improve your business cashflow
Invoice finance allows you to release cash into your business by converting the value of unpaid invoices into working capital.
With Invoice finance you are effectively borrowing money based on what your customers owe your business, allowing you access to the funds without having to wait for the payment terms you set to pass. Rather than waiting days or weeks for your customers to pay an Invoice, a lender will release a % of the value to you immediately.
For example a catering business has a large event coming up that they know they have a large outlay of costs for supplies and staff, but they will only get paid once the event has taken place.
The catering business is owed £10,000 from an event that they catered for last week, however their payment terms allows the customer 60 days to pay the Invoice. If this catering business had an Invoice finance facility that pays 85% of the Invoice upfront, then they could have given this invoice to their provider and receive £8,500 immediately to be used towards their next event. Once the customer pays the £10,000 invoice the catering business will then receive the balance of £1,500 less the total fees and many businesses will roll this additional fee in to the original invoice value.
There are different invoice finance products available and the one you choose will simply depend on how much control you want.
Don’t want your customers knowing that you have an invoice finance facility? Not a problem, we can organise a discreet invoice facility.
Check your eligibility
Perhaps you’re looking to purchase new equipment to increase productivity. Maybe you’re finally turning your passion into your living. Maybe you’re an established business looking to expand. Whatever your ambitions- the first step is to check your elibility. Don’t worry, this check won’t effect your business credit rating.
Very happy with Jordan and the team. Arrange the finance for our equipment quickly and also helped source additional capital finance and loan consolidation
Went above and beyond to get the job done – highly recommended!