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Invoice discounting boom

We’re always taking on the news in our industry and financially in the last week, there seems to be a great boom in the amount of companies using invoice discounting.

Today we’ve noticed a company in Manchester has taken the plunge and used Invoice Discounting to help the company grow.

This particular security business has been working on a very restrictive bank overdraft, but by using alternative funding, they can grow their business and take advantage for new opportunities.

The security company had previously approached their bank and had asked for invoice discounting but, due to the fact that they didn’t meet the criteria, the bank offered factoring. This meant that their money lending would not be kept confidential, which they wanted to uphold, so rather than go with their bank, they approached an Invoice Discounter, who was  able to supply the capital and keep the whole process completely confidential.

Not only is using factoring and invoice discounting a great flexible way to gain capital, without all the trauma of having to wait for a decision, transactions like this can be kept confidential away from prying eyes. Other than that, using your business bank, despite feeling loyal to them, may end up with your private financial affairs being public knowledge.

So what would you rather do?

See your bank, wait for a decision and have everyone know what you are up to?

Or

Speak to a financial specialist, gain the money you need within 24 hours, pay a minimum for the privilege and everything is kept confidential. If you prefer the latter, then choosing invoice discounting or factoring is the perfect partner.

There are many more companies turning to this form of financing, which is a positive outcome for companies like Select Factoring, it makes our job of educating other companies a whole lot easier.

 

 

 

 

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