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A year of success for MarketInvoice

We mentioned quite a while ago, a company called MarketInvoice, who came up with the ingenious idea of offering SMEs funding by placing their invoices into and on-line auction, which lenders could bid for, offering the best funding packages.

After a year in business MarketInvoice has completed over five million pounds worth of funding, with over 150 auctions and 60 SMEs.

The way MarketInvoice works is using Invoice Discounting, a way of gaining funding through invoices that companies send out to clients.

Companies in need of some up front funding can place their invoices into an auction and receive bids from Lenders. Companies can then chose which lender to go with depending on the deal, the amount of cash they can advance and the cost of using this incredible way of funding.

Invoice Discounting alone helps hundreds of companies in the UK overcome problems presented by the recession.

It enables those companies to have cash up front, rather than having to wait up to 3 months for payment from clients. Some companies have won contracts and expanded with the help of Invoice Discounting.

MarketInvoice has managed to inject capital into a sleepy market and educate those who knew nothing about factoring and asset based funding.

Unlike the USA or Australia, the UK seems to be a bit of a slow burner when it comes to finding alternative funding, despite there being a range of high brand lenders and this incredible auction site.

In a time where bank lending is non existent, companies are turning to other means, some of which could be construed as dangerous when it comes to profits and investing their own personal assets.

So, if you have invoices and need cash, use them, there are numerous places that will provide a range of funding solutions and the best part is it it very flexible, quick and cost effective.

Select Factoring

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