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What can Invoice Finance Offer Your Business?

If your business is looking for funding in order to carry on investing in growth, it’s worth expanding your search beyond just the banks. This is especially true if you’re looking for flexible, fast and accessible financing which doesn’t require a hugely long and involved application process. Alternative finance options can offer something different, especially when it comes to invoice finance.

So, what can invoice finance offer to your business?

- Invoice finance is flexible. There’s no restrictions on how much you can borrow imposed by the lender, as it all depends on the size of your invoices. As such, the amount you can borrow increases as your turnover increases. This is one funding option that grows naturally alongside your business.

- Funding is based on current performance rather than detailed financial records. If you’ve got sales on your books, you’ll be able to apply. What’s more, this makes it an ideal solution for start up businesses looking to boost their cash flow. Without historical financial trading histories, they can often find funding difficult, but invoice finance is accessible to such ventures.

- Invoice finance is unobtrusive. You produce goods and services as normal, issuing your invoices in line with normal procedure to your clients. The details are then passed along to your invoice finance provider who will let you know when your funds are available, usually within 24 hours of the invoice being raised.

- Businesses don’t take on any new debt with invoice finance. Everyone is looking to cut down their debt, from the banks to the government, and factoring and invoice discounting let you get access to new funds without taking on new creditors. As you’re simply getting an ‘advance’ on money you’re owed, you’re not taking out new debt which you need to repay. Rather, the slate is clean once the customer has paid their invoice.

Invoice finance is an increasingly popular option for all sorts of companies, and with such a range of flexible advantages, it looks set to grow further in 2013.

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