2018

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    Recruitment Acquisition Finance

    We are looking at a prospect that is seeking recruitment acquisition finance for a business that they are seeking to purchase. I highlight this as a reminder of how invoice finance can be used to fund company acquisitions.In this case it is a recruitment sector company, however the same approach can be applied to any sector.There are two possible ways in which you can structure this type of...

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    Invoice Finance Is Not An Alternative To Having A Viable Business

    I spotted a recent article published by TheBusinessDesk.com regarding the financial woes of a direct mail business called SDM. The business has apparently failed, despite having a 100% prepayment from an invoice finance facility. The article reminded me of how vital it is to have an underlying business that is viable, for invoice finance to help.In this particular case, the article alleges that...

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    Close Brothers Invoice Finance

    Voting has recently opened for the Business Moneyfacts Awards 2019. Close Brothers Invoice Finance, part of the FTSE 250 Close Brothers merchant bank, have been the winners of the award for the Best Factoring & invoice Discounting provider, for the last 5 consecutive years. In addition they have recently won Asset Based Lender of the Year 2018 at the Insider - Dealmakers Awards. Quite an...

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    Prepayments Against Invoices To NHS Trusts

    I saw an article about slow and late payments from NHS Trusts in HSJ online magazine (27/09/18). The article alleges that according to data obtained under a freedom of information request, 44 out of 135 acute trusts paid less than half of their invoices on time during a period between 2017 - 2018.These slow payments may be causing a significant cash flow problem for non NHS suppliers to NHS...

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    Credit Control For A Small Construction Estimating Business

    We have just completed a credit control only facility for an estimating business that handles:DISCUSS A CREDIT CONTROL QUOTEThis firm of estimators were originally with a large high street bank, who have an invoice finance arm, but as the bank have withdrawn their debtor protection this client needed to look for a new provider. The facility that they had received from the bank was factoring but...

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    Business Startup Guide To Funding

    A critical aspect of starting a new business is ensuring that you have sufficient money to trade. This could be to cover the initial startup costs e.g. purchasing equipment, and to cover ongoing costs e.g. staff wages and buying stock.DISCUSS YOUR FUNDING NEEDSA cash flow forecast is an essential part of the business plan for any new start company, it may be produced by your accountant with your...

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    4M Of False Invoices Lands David Marsden A 10 Year Ban

    A Government press release dated 8th October 2018 confirms that David Andrew Marsden (62 from Exeter) has provided a 10 year directors disqualification undertaking, that has been accepted by the Secretary of State.The undertaking is effective from 9th October 2018, and prohibits the individual from holding any Directorships. David Marsden was formerly the boss of First Capital Factors, the...

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    Finding Prepayments Against Applications For Payment

    I wanted to find out how difficult it would be for a construction sector company to find prepayment finance against applications for payment.As I have seen previously with other searches, Google delivers quite an unhelpful set of results when one searches for say "construction finance against applications for payment". This might be a typical search term used by a construction sector customer...

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    How To Set Up Your Business Startup

    The first thing to say is that you will likely need the help of an accountant, and perhaps a solicitor to help with setting up your business. This article gives some general information based on our own experience, but your situation may vary.As I mentioned in the first part of this business startup guide, the key to a successful venture is having a product or service that is in sufficient...

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    Micro Company Finance

    Micro companies (often defined as having less than 10 employees) are the smallest of ventures, often just starting up. I had a conversation with a new selective invoice finance company that are going to target just micro companies, with a maximum level of funds in use of just £30K.This is not a segment of the invoice finance market that is being addressed by most funders. If anything, we have...

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    Marketing A Startup Business

    The production of a marketing plan is at the core of any new startup business, it is likely to be a standalone sub-plan within your overall business plan.How you are going to promote and market your products, or services, will determine the volume of sales that you achieve, and most likely the financial success of your business. You don’t have to do the marketing planning and delivery...

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    Can You Finance This New Startup?

    Are you a lender that could help finance this new startup?CONTACT USWe are trying to raise business finance of £75K (less might still be workable) for a new startup business that is acquiring the licence to operate the business of an existing company (that will no longer trade going forwards).The existing business has operated for several years, and its future trade will be taken over by the new...

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    How Invoice Finance Broker Commissions Work

    I have been on the subject of pricing misunderstandings for the last few days and another incident worth sharing occurred with a car body repairer that we were speaking to.SEE HOW MUCH WE CAN SAVE YOUCar body shops that invoice insurers for crash repairs are highly suited to factoring, the nature of the papertrail for each transaction means that the funders, though specialist, can offer very high...

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    Is Bad Debt Protection Included In Your Invoice Finance Quote

    Leading on from my previous post about explaining how to compare invoice finance quotes, and how customers often focus on minor components of the overall cost - rather than those that really make the major difference, I saw an example of confusion over whether or not bad debt protection is included in an invoice finance quote.The answer is that it depends on the provider.Some invoice finance...

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    Explaining Invoice Discounting And Factoring Charges

    I wanted to share this really good example of how someone not familiar with invoice discounting and factoring quotations can end up misinterpreting the quotes, when they try to make a comparison - ending up "comparing apples with oranges".GET A FUNDING QUOTEIn this particular case the prospect had two quotes, one from a provider we had found for them (the cheaper quote) and one they had sourced...

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    Mike Vince Of MRVince Launches Sales Training For The Invoice Finance Sector

    Mike Vince, who many will recognise as the former Managing Director of Innovation Finance, has launched his own business - MRVince Limited. The business will provide sales training to the Business Development Managers within invoice finance companies. He has been a top performing sales person in his own right, as well as being a great sales team manager and a first class presenter.Mike is...

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    Funding Against Excluded Debt

    Are you missing out on vital funding due to exclusions from your receivables financing facility? It often happens that some sales will be treated as "exclusions" from a facility. This can also be called "not notified", "non notified", "unapproved" or "disapproved" - all of which mean that you don't get funding against those sales. This can reduce the availability generated by your facility.In an...

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    Funding Self Insure And Accident Management Company Invoices

    Whilst there are several car crash repair invoice finance companies, that will handle invoices to car insurance companies, not all of them will handle "self insured" invoices, or invoices to accident management companies (third parties that deal with accidents)."Self insure" and accident management company (AMC) claims are also able to be funded, under an invoice finance arrangement, by our...

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    Budget For Your Invoice Finance Charges

    We had an enquiry recently for funding for a small recruitment startup that was expecting to turnover a few hundred thousand pounds sterling. We provided them with a quote for factoring, prepayments against invoices and a credit control outsourcing service.The quote we initially found was for an all inclusive fee of £3,800 + VAT per annum. Which is reasonable for a whole turnover facility that...

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    Another 100% Invoice Funding Option

    We have added another 100% invoice funding provider to our panel of invoice finance companies. This provider will provide 100% funding to a wide variety of industry sectors, but they are also willing to fund in the construction sector, and they have Scottish agreements to handle Scottish companies (which many others can't).I can't think of any other providers that are prepared to fund...

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    Invoice Finance For Non Homeowners In Rented Accommodation

    Renting doesn't have to be a barrier to accessing receivables finance for your company. However the number of invoice finance companies requiring clients to be homeowners has increased in recent years. Historically, it was never an issue, but many of the providers have added in this requirement, in order to ensure there is some substance behind personal guarantees that are often required by some...

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    How Many Invoice Finance Quotes Do You Need?

    We had an enquiry from a prospective client who was looking for invoice finance quotes and, as is sometimes the case, they told us they hadn't been speaking to anyone else. However, once we started searching the market for them, it became apparent that they had used at least 2 other brokers already - each of whom would have contacted numerous funders. One of our funding partners had received the...

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    Invoice Finance For Sales To GRI UK - Geometric Results International formerly De Poel

    We have just had another example where we have been able to find a higher invoice finance credit limit, for sales to GRI UK (formerly called de Poel), than our client was able to find on their own.GET RECRUITMENT INVOICE FINANCEThe credit limit that we found them, with a reputable invoice finance company, was in fact 250% of the value of the limit that they had been able to find themselves by...

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    Bio For Glenn Blackman

    I was recently asked for a short Bio to be used by the publishers that have asked me to help moderate one of the panels at the Alternative and Receivables Finance Forum. The bio is below in case others need it in the future.Glenn Blackman MBA is the Editor of FundingVoice magazine, a free monthly e-publication for SMEs, about business funding and business growth. He is a founding partner in...

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    Horror Stories About Recruitment Outsourcing

    We had an meeting with one of our funding partners that specialises in helping finance recruitment agencies, and the conversation turned to the variety of full service recruitment outsourcing companies that are in the marketplace. These companies effectively take care of just about everything for a new recruitment agency.Full service outsourcing (sometimes called “white label” or “white...

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    Ban On Assignment Legislation Goes To Parliament

    According to the Gov.uk site, the long awaited legislation outlawing ban on assignment was put to Parliament on the 10th September 2018 by Small Business Minister Kelly Tolhurst, as part of the Government's modern Industrial Strategy aimed at building an environment in which small businesses can thrive.The legal changes are set out in the draft "Business Contract Terms (Assignment of Receivables)...

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    Bibby Financial Services Launch Pre-Shipment Trade Finance

    Bibby Financial Services (BFS) have launched pre-shipment trade finance to support UK importers needing to pay overseas suppliers in advance of goods being manufactured and shipped.REQUEST A CALL FROM BIBBYTraditionally, trade finance is only available to pay overseas suppliers, once the goods have been shipped. It them provides the importer with the opportunity to sell on the shipment of goods,...

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    100% Funding Against Invoices

    100% invoice finance funding levels are now available to a variety of industry sectors.One of our funding partners deals with funding car body repair invoices to insurance companies, and they fund those invoices at 100% less a flat fee percentage for using their service (the fee is just a few percentage points of the invoice value). The debt is bad debt protected, so there is no recourse to our...

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    Producing A Business Plan For Your Startup

    Writing a business plan is critical to launching a startup business. It allows you to clearly set out your business idea, set goals and measure progress against those goals.You might be interested in the top 3 pieces of advice for new startups that we heard from fellow entrepreneurs.A business plan is a written document that sets out the objectives and strategy for your business venture,...

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    What Is Impacting The Factoring Industry

    I recently received a kind invitation to moderate the SME Insights panel at the Alternatives & Receivables Finance Forum in London. I noticed that one of the organisers recently posted a question on social media, "What is impacting the factoring industry?". So I have set out my views on this question, below.The first clarification is to confirm that "factoring" is being used as a term to describe...

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    Validating Your New Business Idea

    In the last post in this series the Free Business Startup Guide, I covered developing a unique business idea. This post concerns validating that business idea. This means how to check that it is likely to be successful with demand from customers.This is one small step in setting up your own business, but it is critical to its future success, hence it has this post dedicated to it.GET ADVICE ABOUT...

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    Free Business Startup Guide

    This is a free business startup guide that gives general advice about starting your own business. It's not comprehensive, and professional advice should always be sought from an accountant and/or solicitor.This guide takes you through a number of areas that you need to think about if you are starting your own business. It is based on our own experience of launching our own venture.GET BUSINESS...

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    Partnership Invoice Finance Joins UK Finance

    Partnership Invoice Finance have recently joined UK Finance, the trade association for the finance and banking industry. Great news for customers as this means that members agree to abide by a code of conduct that provides peace of mind to customers of members.Partnership Invoice Finance are an independent invoice finance company that are focused on delivering a high quality, flexible personal...

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    Updated Info Pack From FundInvoice

    We have just updated our info pack, which is our version of a brochure outlining our services. Its in a PDF format and it details the business funding and invoice finance quote search and advice service that we offer at FundInvoice.You can download a copy of our brochure/info pack here: FundInvoice Info PackIt includes:If you would rather just speak to someone about what you need please call...

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    Construction Factoring

    Slow paying customers are common within the construction sector. Their unpaid accounts payable can tie up a lot of your working capital.If you need more funding to take on new projects, or you have been turned down for construction finance by a bank or you have contracts that you can't fulfill, construction factoring could be the answer for you - by unlocking your business cash flow.The product...

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    Invoice Finance Practices To Watch Out For

    Whilst having a meeting with one of our funding partners, we started discussing practices that can mislead customers, that we have come across around the invoice finance industry. I thought it might be helpful to put up a list of these practices so that customers can watch out for them.I have posted before about the research we have conducted into the setting of minimum fees. Most of the whole...

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    Invoice Finance Or Factoring With No Minimum Criteria

    In the past, there were minimum size criteria applied to businesses that were seeking invoice finance or factoring.  Different providers would set the minimum size criterion at different levels, but used to reflect a fairly substantial volume of turnover, in order to make a facility viable.This practice is no longer the norm in all cases, with the emergence of selective invoice finance. A...

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    Who Can Use Invoice Finance?

    This is a reminder of who can meet the acceptance criteria to use invoice finance. There is a form of receivables funding to suit just about every type of business.Pretty much any industry sector has a form of receivables finance available. There are certain sectors that commonly use these products, the latest UK Finance (the industry body for receivables finance) statistics to the end of Q1 2018...

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    Our Achievements At FundInvoice

    Very quickly I wanted to share some highlights from FundInvoice's recent achievements as company finance brokers:For help and advice about finding business funding or invoice finance please call Sean on 03330 113622....

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    Receivables Discounting

    Receivables discounting, sometimes called accounts receivable discounting (or A/R Discounting), is a business financing facility whereby the debts that your customers own you are sold to funder at less than the full face value i.e. at a discount.FIND OUT THE COST OF RECEIVABLES DISCOUNTINGReceivables means the monies that you are owed by customers. These can be invoices for goods or services that...

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    Cash Flow Finance

    Cash flow finance is a term that can encompass all the invoice finance products and also some business loans. Even an overdraft might fall under that category. Pretty much any finance that is for working capital purposes i.e. not to buy an asset, could be included under this banner.APPLY FOR CASH FLOW FINANCEI thought I would check how easy it is for a company to find cash flow finance quotes...

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    Why Factoring Is Used

    In my blog post yesterday, I wrote about the perception of one of the invoice finance providers that factoring is growing in popularity. To a certain extent, in recent times, the industry statistics do show a slight swing towards factoring products, as opposed to invoice discounting.This post just explains the reasons why companies use factoring rather than other forms of invoice finance.The key...

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    Is Factoring Growing In Popularity?

    We regularly have meetings with factoring companies to keep up to date with the latest pricing offers and product developments.In a meeting the other day, with one of the small independent factors the Sales Director told us that they were experiencing an increase in the number of factoring enquiries, over and above the demand for invoice discounting. He suggested that they were seeing factoring...

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    Care Staff Recruitment Invoice Finance

    We have been successful in finding invoice finance for a number of companies operating within the UK care sector.REQUEST A FREE QUOTEOften the provision of care workers is funded by local authorities, but there can be delays in receiving payments for services already rendered. See our free credit control guide for tips about chasing local authority debts.We have introduced many care staff...

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    Invoice Finance Unlocks Rapid Turnover Growth For Car Body Repair Companies

    I just did a quick comparison of the factored monthly turnover achieved by some of the car body repair companies that have been using invoice finance, found through us, for over a year. They show a very high turnover growth rate, increasing by a multiple of almost 4 times over the volume achieved a year ago.I took just those body shops that were already using invoice financing services, found...

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    Construction Equipment Sales Index Shows Continued Growth

    Another positive report today, showing growth in the number of sales of construction and earthmoving machines during Q2 2018. According to a report from theconstructionindex, the second half of 2018 showed 3.8% growth in the number of sale, compared with the same period in 2017.The first half of this year showed 5% growth against the same period in 2017. Although value is not reported, sales of...

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    The Difference Between Profits And Cash Flow - Need Help?

    There is a huge difference between profits and cash flow. A business can be very profitable but still have poor cash flow - profits are no guarantee that you won't run into a cash flow problem. Even the big businesses can feel the effects of cash flow restrictions.In high level, layman's terms, profit is what you make on your sales, your profit margin. Cash flow is how the money from sales moves...

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    Research Suggests Need For External Business Finance Among Growing Businesses

    Interesting to read the London School of Business and Finance, quoting research by Wesleyan Bank, that apparently showed some confident growth prospects, and and appetite for external business finance amongst UK businesses.The research across 500 business owners of SMEs showed that over 50% now have more confidence in the growth prospects for their company than they did last year. In addition,...

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    Alternatives To Bank Overdraft

    There are alternatives to bank overdraft, and they can have a number of benefits beyond those offered by an overdraft (OD).It is common practice that when a business needs to raise some capital it approaches its bank. It seems a logical step, although one has to remember that a bank will only offer their own products. There is an entire alternative finance market available, delivered by numerous...

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    Barclays Bank Takes An Equity Stake In Marketinvoice

    In a surprising move, Barclays Bank have *reportedly taken a significant minority stake in Marketinvoice, the Fintech business funding platform. The move was reported to be as part of a strategic partnership, between the two organisations, to offer Marketinvoice's invoice financing services to some of Barclays' customers. Finextra quotes Ian Rand, CEO of Barclays Business Bank as saying ". . ....

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    Base Rate Increases To 0.75 Percent

    Yesterday, 2nd August 2018, the Bank of England (BOE) announced its decision to increase bank rate to 0.75%, according to BBC reports. A rise of 0.25%, and only the second rise in the last decade. This marks the highest base interest rate since March 2009. There will be a whole generation in the UK that have never known interest rates to be the heady 5 to 15% levels that some of us remember...

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    34% Average Invoice Finance Cost Saving Achieved

    From time to time we check the average cost savings that we are achieving for our invoice finance customers.As at August 2018, over the previous 12 months, we have found average cost savings of 34% for our invoice finance customers seeking price reductions on quotes received from other invoice finance companies.CHECK HOW MUCH YOU COULD SAVE ON INVOICE FINANCEWe achieve these savings by being able...

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    Invoice Discounting For An Electric Bicycle Distributor

    Electric bicycles, or e-bikes, are a fast growing market, as many people seeking to live a greener life and replace their journey to work in a petrol or diesel powered car, with something less polluting.We were recently able to arrange a confidential invoice discounting facility for a UK based distributor of electric bicycles, in order to support their future growth.GET A QUOTE FOR INVOICE...

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    The Risk Of Customer Bad Debts Is Rising

    The risk of customer bad debts is rising as there has been an increase in both corporate and personal insolvencies. It is time to protect your business against the risk from customers taking trade credit. Protection against taking customer bad debts is still on offer at present.REQUEST DETAILS OF BAD DEBT PROTECTIONAn article in The Times dated 28th July 2018 reported that personal insolvencies...

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    Selective Invoice Finance For Installation Of Car Charging Points

    This case study concerns a client in a very different industry sector that we were able to find a selective invoice finance facility.GET A FUNDING QUOTEThe small business was an installer involved with the installation of car charging points for electric cars. They also undertook some solar panel installation, under the Government's green deal scheme.Car charging points, for electric cars, are...

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    Startup Invoice Finance For A Driver Hire Recruitment Agency

    It is not always easy for a new start recruitment agency to find an invoice finance company that is prepared to deal with new start-up businesses. The risk involved with the potential failure of new ventures means that some funders choose not to deal with newly formed companies. Once established however, just about every funder will be happy to assist, but in the initial stages the choice is...

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    Bibby Subcontractor Survey Highlights Late Payments & Bad Debts

    The 2018 Bibby Financial Services subcontractor survey highlighted a number of construction sector issues including late payments and bad debts in the construction sector.The report suggests that following the collapse of Carillion, 47% of construction sector subcontractors are now wary of dealing with large main contractors, for fear of a similar situation arising.There is some reason to take...

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    How Financially Strong Is Your Invoice Finance Company

    How financially strong is your invoice finance company?The recent appointment of Liquidators at Urica Ltd made me think about the relative strength of the financial position of different invoice finance companies.In the case of Urica, they had incurred significant historic losses, and had a negative net worth within the business, according to accounts filed prior to the failure. Therefore, they...

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    Urica Supply Chain Finance Liquidation

    Urica, the new Global Supply Chain Finance company has announced on its website the appointment of liquidators as at The 20th of July 2018. The liquidation is apparently as a result of a large fraud in France.If you are an existing client of Urica, looking for an alternative source of finance please contact Sean on 03330 113622 and he will help you find what you need.A quick look at Companies...

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    Invoice Finance Despite Sale Or Return Terms

    Normally finding invoice finance when a large customer trades on "sale or return" terms (SOR) would be impossible. However, we have just completed such a deal for one of our clients.Sale or return means that the customer receives your product and they can return it if they are unable to sell it. If they can sell it they pay for it. Invoices are often raise before the outcome of their sales...

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    We Just Received A 5 Star Service Rating From A Car Body Repairer

    We just received this customer testimonial, which was received from a car body repairer. The customer contacted FundInvoice on a Friday, and received an invoice finance payout, against invoices to car insurance companies, on the following Tuesday. A very fast turnaround of just 3 working days from first contact to funds received.They gave FundInvoice's invoice finance quotation search service a...

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    Advantedge Acquires Henry Howard Cashflow Finance

     News just in, Henry Howard Cashflow Finance, the Newport based invoice finance company, has been acquired today by Advantedge Commercial Finance (formerly Factor 21).REQUEST A CALL BACK FROM ADVANTEDGE COMMERCIAL FINANCEApparently Henry Howard Finance Group have decided to exit the invoice finance and factoring market space to refocus on their asset and vendor finance products, leaving an...

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    A List Of All The Methods Of Funding A Business

    If you are starting a business, or you need more capital to expand an existing business, you may be interested in understanding the full list of all the funding options that are available to you. Below I have compiled a list of all the methods of funding a business in the UK.FIND OUT ABOUT THE OPTIONS WE CAN HELP WITHThere will be many products that fit under each of these categories, however I...

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    Ban On Assignment Legal Change

    New legislation to prohibit ban on assignment clauses is due to go before Parliament in the autumn of 2018 (according to a recent article by our friends at Pulse Cashflow). If there are no issues with the legislation being passed, this could allow implementation for the 1st January 2019 schedule.Assignment is the process by which factoring and invoice discounting companies take ownership of a...

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    Nucleus Commercial Finance Lowers Its Unsecured Business Loan Rates

    Nucleus Commercial Finance has, as of yesterday, lowered its unsecured business loan rates once again.Interest rates now start from a flat rate of just 5% (for an "A band" credit risk client, with a business loan on a 3 to 12 month term).CONTACT NUCLEUS COMMERCIAL FINANCEThey are able to offer longer terms, up to 36 months, and they will deal with lower credit risk clients, but the rate will...

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    FundingVoice July 2018 Has Been Sent

    The July 2018 edition of FundingVoice magazine has just been sent out via email to all our subscribers. We have over 6,000 subscribers at present - mainly SMEs and finance specialists.Our magazine highlights all the latest news from the business funding sector and the world of invoice finance. If you missed it, you can read back issues here: FundingVoice Back Issues.You can also subscribe for...

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    Hive Project Strike Deal With Gosocket Over Half Billion Of Blockchain Based Invoice Finance

    It was nice to be contacted by a representative of the Hive Project to advise, prior to general release, that they have struck a huge deal with Gosocket, to establish a joint invoice financing platform, in Q3 2018, based on their blockchain invoice finance technology.They report that there are half a billion of eInvoices ready to be funded via this portal.Gosocket is a network that connects...

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    Free Guides Relating To Business Finance

    This post sets out a number of free guides and "how to . . ." articles that relate to getting invoice finance and also leaving that type of funding.We have a number of related advice articles and guides about how to stop using invoice funding:...

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    Examples Of Invoice Finance Funding Lines We Have Arranged

    Looking back over the invoice finance funding lines that we have arranged for clients over the last few months, the size of the funding lines put in place ranges quite dramatically.The invoice finance funding lines we have facilitated ranged from just £8K up to £1m, and all points in between. Quite a few have been around the £150K to £200K mark and there have been a few larger lines e.g....

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    Cash Flow Loans

    We have had enquiries recently seeking cash flow loans, and we have also seen several of the invoice finance companies extend their product portfolios to include business loans.The purpose of a cash flow loan is normally to finance the trading of a company, maybe to handle large orders or to enable the company to pursue business growth.REQUEST A QUOTEThe terms offered have varied widely. We have...

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    More Accident Repair Invoices Funded

    One of our specialist funders has just completed the payout against another accident repair company's invoices to insurers.The accident repair company had been established for several years, and they had a few invoices to insurers such as Hastings Direct and AIA Group, that they wanted to get payment against immediately. The issue is that invoicing insurance companies often takes a while for...

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    New Start In The Care Staff Recruitment Sector Gets Funded

    We have just completed arranging a funding line for another new start company within the care sector recruitment industry, providing staff to both local authorities and the NHS.NEED FUNDING ADVICE? ARRANGE A CALL BACKAlthough a new start company, the business is already projecting turnover of £650K for the year, and we introduced them to a number of independent invoice finance companies as...

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    Tony Lee - RAFTS Regulatory & FinTech Services

    Pleased to catch up recently with Tony Lee, a colleague of mine from when I worked as a business consultant. He has just launched a new consultancy service called RAFTS (Reg & FinTech Services), which may be of interest to the financial services organisations that read this blog.If you are looking for support with any aspects of financial services, you can use the following contact form to...

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    Same Day Business Funding - A New Record Turnaround

    We have just set a new record for the time it takes to turnaround a business finance enquiry. We arranged same day business funding for a client, with approximately 7 hours between enquiry and them receiving cash from the finance company.That's a new record turnaround for us!REQUEST A CALL TO DISCUSS FUNDINGWe were contacted in the morning by a car crash repairs coachworks business that were...

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    De Poel Rebrands As GRI Following Acquisition

    According to Global Banking & Finance, de Poel - the neutral - vendor managed service provider (MSP) for non-permanent hires and contingent workforces has rebranded as GRI. This follows de Poels acquisition in January 2018 by GRI, a US based independent extended workforce solutions provider.We have had a number of successes in helping clients find funding against invoices to GRI (formerly de...

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    100% Invoice Purchase

    Interesting conversation the other day with a new selective invoice finance company that are looking to offer a similar funding model to the one used in the car crash repairs sector, but to a wider range of industry sectors and trades.We deal with a number of car body shops, and because the debt is considered solid i.e. paid by an insurance company, documented and signed off by the car owner and...

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    Why Do Large Companies Pay Late?

    I've just answered a question posed online about "why do large companies pay late?".Firstly its worth mentioning that this does not apply to all large companies. We deal with numerous financial services companies who tend to pay very quickly.There are a couple of key reasons for some large companies paying late, which are explained below. Despite there having been a tightening up on large...

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    Ashley Finance Absorbed Into Ultimate Finance

    The AIM listed Ultimate Finance Group acquired Ashley Commercial Finance back in 2010 for an initial consideration of £4.75m.Ashley Finance is now to be absorbed into Ultimate Finance with all products and services continuing to be offered as usual.Sad to see another long established factoring brand disappear, but the business itself is now part of an equally established, and respected invoice...

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    New Rates For Marketinvoice Business Loans

    Marketinvoice, are members of our funding panel, and have just released new rates for their business loans.The new business loan rates are from 1% per month.Loan terms and criteria are as follows:REQUEST A CALL FROM MARKETINVOICEIn addition to loans, Marketinvoice also offer a range of different receivables financing services, including selective, full turnover options and fixed fee options.Read...

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    Nucleus And Skipton Product Information Added

    We constantly update information about the various invoice finance companies on this site, and are we have just added two new product services pages for two providers.Both of these companies are members of our panel of funding providers, and from the product information pages you can access links to make contact with them.Over the last few days, I have also been reminded, how the approach and...

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    Invoice Cycle Rebrands As InvoCap

    Invoice Cycle, the selective invoice finance provider, have announced that they are to rebrand their business as InvoCap.At the same time they have announced the expansion of their product range to include secured business loans.Another interesting development within the invoice finance sector, that mirrors several other of the selective invoice finance companies that have made similar moves into...

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    Bridging Loan Price - Updated Cost From One Of Our Panel Of Lenders

    One of our panel of finance companies have just advised their new price for bridging loans.The bridging loan price is 0.91% per month, rolled up interest, with a set bullet payment at the end of the term of the loan.Bridging loans can be used to purchase commercial property in situations where rapidly agreed funding is necessary in order to make a purchase. Often, a mortgage application may be in...

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    4 Simple Ways To Reduce Your Factoring Costs

    If you are an existing factoring user, and you are looking for ways to reduce the cost of factoring, we have set out below four simple actions that you could consider.The cost of factoring is constantly changing, rates have moved over the last 12 months. In addition to this, the rates offered by different factoring companies will vary dramatically. In a recent study, we found that there was...

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    Populous Completes The Worlds First Blockchain Based Invoice Finance Transaction

    Populous have apparently completed the world’s first blockchain based invoice finance transaction, with the debtor having paid their invoice, completing the payment cycle.You may be aware that I have written previously about this, and discussed the security benefits of using blockchain to reduce invoice finance fraud.It would seem to me that the key to how useful this type of technology could...

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    Optimum Finance Launch 60 Second Invoice Finance Approval

    Optimum Finance have just released a new web based app for their introducers that requires only 8 clicks in order to get a decision on an invoice finance application within 60 seconds.After approval in less than 60 seconds, the Optimum Finance application apparently emails an offer letter to introducer, within 15 minutes, making the invoice finance approval process very fast for new customers.The...

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    Collect Invoices Faster As An Alternative To Borrowing

    There is a huge cash flow benefit to be acheived from collecting in your sales invoices faster, in a timely manner.The quicker you get paid by your customers, the more cash and hence working capital you will have available to your business, and therefore the less you will have to source e.g. by borrowing.If you have an outstanding sales ledger of £100,000, and a debt turn of say 60 days (the...

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    5 Financial Mistakes You May Have Already Made

    Below is a list of five common financial mistakes, that you may have already made within your business.It is very common within a business for the prime movers to use their own money to support its cash flow. This may be in the form of a cash loan to the business, or it may be that you pay for business expenses on a personal credit card, or from your own cash savings.This may seem like a...

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    Retailageddon Continues To Threaten UK High Street Firms

    Since my last post about how "Retailageddon" is unfolding in the UK high street, there have been further stories emerging about problems continuing to threaten the UK retail sector.Wesfarmers have just announced the sale of Homebase, the DIY chain, for just £1. Accounting for both the purchase price, and losses incurred, it is estimated that acquiring Homebase has cost the firm in the region of...

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    Resubscribe To FundingVoice Magazine Ahead Of GDPR

    There has been a deluge of GDPR related opt in requests received recently. It might seem like every business you deal with are contacting you to ask you to confirm your marketing preferences or to opt into receiving their messages.Put very simply, GDPR (General Data Protection Regulation) is new legislation that relates to your data protection rights, and it is due to take effect from tomorrow....

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    How We Found A Cheap Factoring Quote Less Than 2K A Year

    We have just found a really cheap factoring quote for a prospect, that is worthy of sharing, at less than £2K per annum - all inclusive.The small micro business has a low level of annual turnover, hence they are very price conscious. They want to factor all their invoices, so it is a whole turnover facility.Factoring will provide them with both funding against their sales ledger, and a credit...

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    10 Ways To Make More Money

    These are 10 simple ways that you can potentially boost your company’s income, and make more money.1) Increase your prices by a fraction – if you don’t already increase your prices annually, in line with inflation, you could introduce this, or you could make a small price increase in order to cover rising cost.2) Ask your existing customers for more work – this could be in the form of...

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    Accounts Receivable Funding

    The frustration of looking at a large sales ledger of unpaid invoices for sales, whilst having an empty bank account, can be debilitating. Not to mention the problems it causes in paying your creditors, suppliers and staff.When you first make a large sale, the feeling is exhilaration at having closed a deal. However, there can often be significant delays between making a sale, delivering the...

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    Summary Of Our Invoice Finance Pricing Research

    This post pulls together all our research, and information, regarding invoice finance pricing and prices.Our free receivables financing guide describes both how the products work, and also how the pricing is structured. It also sets out minimum costs for full turnover products, which start from c. £3,000 + VAT per annum - selective products (typically costing c. 2% per month) can have a much...

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    Turn Unpaid Invoices Into Cash

    You can turn your unpaid invoices into cash within a couple of days.Get help turning unpaid invoices to cashIt is a simple process, you could receive, for example, 85% of the value of your outstanding sales invoices within the next 48 hours. They don't even need to be due or overdue - you can get money against them as soon as your raise them.Having an outstanding sales ledger of unpaid invoices...

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    Have De Poel Stopped Offering Early Settlement Discounts?

    We had an enquiry recently from a prospect that suggested that de Poel may have stopped offering their early settlement discounts to suppliers. Does anyone know if this is true?It may be that it was specific to this prospect, or a change for future customers but we would be interested to know if it has affected any other recruitment suppliers.Contact us about De Poel early settlement...

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    What You Need To Know About Receivables Financing

    A conversation today with one of our receivables financing companies reminded me of just how much knowledge we have about that marketplace, and how we tend to take a very analytical research based approach to comparing providers (rather than just basing decision on anecdotal evidence).Much of our research you will find on this website, but both myself and my business partner have been involved...

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    Funding For A Manufacturing Company

    There is an established connection between manufacturing companies and the use of invoice finance to improve their cash flow.Looking at the UK finance figures for the asset-based finance industry, to the end of 2017, manufacturers make up 25.8% of their member’s clients.The key reasons why invoice finance works for manufacturers is that within a manufacturing business, there are significant...

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    Have You Had A Letter From RBS Asking You To Move Your Business Elsewhere?

    Have you had a letter from RBS encouraging you to move your business banking elsewhere?I read James Hurley’s article in the Times, “The bank that likes to say goodbye“ (30th of April 2018) with a sense of shock.Apparently, the Royal Bank Of Scotland (RBS) are in the process of writing to 220,000 small companies, that are existing banking customers, asking them “would you kindly consider...

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    Calculating The Cost Of Leaving Invoice Finance Or Factoring

    Calculating the cost of leaving invoice finance depends upon the type of facility that you have, and the nature of the agreement that you have entered into.There are various aspects to calculating the overall cost. Firstly, there may be a termination fee. Secondly there may be additional costs that you will incur by having to undertake certain tasks yourself, that were previously undertaken by...

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    Invoice Finance Enquiries We Have Seen Recently

    The invoice finance enquiries that we have been seeing recently has been typically diverse, factoring through to invoice discounting.There is a balance between people looking for a full turnover option, where all of their transactions are funded and those looking for selective or single invoice finance.In particular, we have seen a number of enquiries on the selective side, for body shop...

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Examples of just a few of our finance partners:

igf
ashley
ultimate finance group
acg
ifg
investeccapitalsolutions