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Invoice Finance, a popular option

SME’s and larger companies have finally jumped on the bandwagon and become more aware of the funding options Invoice finance gives to them. According to a recent economic report, finance advancing are growing stronger year on year with a growth of 12% in this current quarter.

This trend has continued over the past five quarters and shows that businesses in the UK and Ireland are opting for this type of finance over bank loans and other forms of lending.

Another plus shows that companies are not accessing all the funds available to them, they’re being sensible, whether due to the recession they were stung and on a tight string of a budget, or they’re wary of the possibilities taking too much money could cause.

Across the total funding optionts, SME’s took more than 40% this quarter. The gap is ever closing between SMEs and businesses with a turnover of above £100 Million, which means they are more confident, striving for a bigger customer base and growth within the company.

The reports shows that export and import factoring have grown substantially meaning our ties with global companies are growing. There is an increase in demand of products and materials from the UK, its a very exciting situation we find ourselves in, and at Select Factoring we believe this growth promotes a healthy future.

So as long as this continues long may factoring, invoice discounting and selective factoring reign. It really is a sensible option, and as soon as the other SMEs catch on there will be no stopping us. What is not to like about this system? What is to worry about, pretty everything is done for you by a factoring lender, and you have the money you need upfront without having to wait up to 90 days! Infact we’re so confident in factoring, forget everything else, come to us!

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