Why should your business consider using invoice finance? There are many reasons so we’ve brought together a few in order to make your finance choice a bit easier!
Control, reliability and improved cash flow
Healthy cash flow is the lifeblood of any business, no matter what the size. This is exactly what invoice finance provides, giving you good working capital to keep your business running smoothly and efficiently. You can be firmly in control of your day to day running with the help of factoring.
Stay in control
Late payment is a common problem for SMEs. Even when you’ve got a full order book, it can be tough to stay in control of collecting all your payments on time and you may often be forced to wait months for payment. Invoice factoring is one way to deal with late payment, as you’ll receive up to 90% of the invoice value within 24 hours.
No lengthy contracts and no new debts
Invoice factoring can be a flexible solution, and you won’t need to take on new debt as all funds are released against money owed to you by customers. Factoring programmes can be tailored to your business needs, whether you want to release cash from a few customers or all.
Grow your funding with your business
Unlike bank loans and overdrafts, invoice finance grows alongside your sales and therefore alongside your business growth. The bigger your business, the more money you’re able to unlock. If you’re looking for a fast and flexible way to plan for your business future, then invoice finance could be for you.
Invoice finance is suitable for a whole range of businesses – if you’re looking for a way to solve your cash flow problems, then it could be an option for you.