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Award Winning Invoice Finance

Invoice finance in the UK is becoming more and more popular. Not only does this mean more businesses are getting access to the funding they need, but it also means that invoice finance lenders and invoice factoring platforms are becoming more widespread. Here at Select Factoring, we’re keen to see this expansion, and it can only be good news for the reputation of invoice finance and the UK economy as a whole.

Alternative finance is an important thing to look into for many businesses who are struggling to get hold of the finance that they need. Banks have been trying to minimise their risky debt and lending requirements are becoming all the more stringent, so exploring non-traditional funding routes is essential for businesses looking for funds.

However, these methods of finding funding are becoming more mainstream. Not only have they been recognised by the government as an important way to plug the gap in funding created by the cut back in bank lending, but they’ve also been winning awards. The Interface Finance Group, which expanded into the UK two years ago and offers invoice finance to SMEs, has won the awards at The Money Awards. This shows that invoice finance as a whole is becoming more recognised as a key part of economic recovery and is an essential SME finance option.

The internet has been important in the expansion of invoice finance. Market Invoice, an online invoice factoring platform, has now advanced £20 million worth of invoices to SMEs in the UK. This is a large uptake since it started trading just over a year ago, and shows an increasing appetite for invoice finance.

Select Factoring is amongst these companies that offer well respected invoice finance and factoring options to SMEs, and we’re excited to see this growth in demand for our alternative finance options.

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