2018

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    Happy New Year 2019 From The Team At FundInvoice

    2018 was another great year for the business finance brokerage team at FundInvoice. We were confirmed, for the 5th year running, as finalists for Best Invoice Finance Broker of the Year through the Business Moneyfacts Awards (winners will be announced in March 2019). We have seen increases in enquiry levels, new business written and we have seen our customer satisfaction average tick up to 4.9...

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    Using Property To Secure A Business Loan

    The daily update from UK Finance, the trade association for the banking and finance sector, included a "stat of the day" that average house prices have risen by 1,382% since 1978 (they say according to figures by mortgage broker Trussie).That rings true with my own experience of house prices rising but is still a staggering increase.Whilst that creates all sorts of problems for those trying to...

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    Growth Finance For 2019

    2019 is just around that corner, and the run up to the New Year is always a good time to take stock of last year's performance, and make your plans for the next year. Growth is an expectation for almost half of UK SMEs.CHECK THE COST OF GROWTH FINANCEThe Q2 2018 SME Monitor from BDRC showed that 41% of businesses said they had grown over the last year, increasing with size from 39% of those with...

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    Merry Christmas 2018 From The Team At FundInvoice

    The team of business finance and invoice finance brokers at FundInvoice would like to wish you a very Merry Christmas 2018!We hope you enjoy the festivities over the next few days, our phones are always on, so we are always on call, even over the holiday period. When it's your own business, you never want to miss out on helping a customer so no need to worry about calling us.Merry Christmas...

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    Which Factoring Companies Will Fund Startups?

    There is plenty of miscommunication going on around the industry. We were recently contacted by a newly formed startup company that had spoken to a few factoring companies and had been told that they needed around half a year's trading behind them in order to secure invoice finance.This may be the case for some factoring companies, but there are others that will happily accept new startup...

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    Spot Invoice Finance

    I had a conversation the other day, with a colleague who follows my blog posts on LinkedIn, and he said "you must get loads of business from LinkedIn?", not a lot I replied - in fact I can't remember the last time someone contacted me directly via LinkedIn. Then, coincidentally, a couple of days later, I receive a request for spot invoice finance via LinkedIn!The term "spot" is more commonly...

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    Please Vote For FundInvoice To Win Best Invoice Finance Broker

    You may have heard that FundInvoice LLP have made the shortlist of Finalists for "Invoice Finance Broker Of The Year" at the Business Moneyfacts awards 2019. Now we need your support as the deadline to vote for us approaches . . .Please help us win the award by providing a quick testimonial (it can be anonymous if you prefer).See our blogpost about making the shortlist - which has a link to give...

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    Contact Details For UK Finance

    UK Finance are the banking and finance trade association, formed on the 1st of July 2017, that took over the operations of the Asset Based Finance Association (ABFA), who were the trade body for the invoice finance sector.Their contact details are shown below, and there is also a link to our own invoice finance complaints guidance.Below are the contact details for UK Finance:Address: UK Finance,...

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    World Of Open Account (WOA)

    I have just registered with the World of Open Account (WOA), which is a new inclusive global Community of professionals and companies, engaged in open account receivables finance, that was launched on the 10th December 2018.WOA ’s website states it's mission as "to be a networking, competence and innovation centre for its members".The global receivables community was launched by Erik...

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    Costs Of Collecting Late Payments Rising According To New Research

    New research from Bacs Payment Schemes Ltd (Bacs) shows that the cost of collecting late payments, due to SMEs, has more than doubled to £6.7 billion (£2.6 billion in 2017).A huge 78% of SMEs are now forced to waiting 1 month or more, beyond their standard terms, to get paid by their customers. That is a huge amount of cash tied up in unpaid receivables.40% of SMEs affected by late payments say...

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    The December 2018 Edition Of FundingVoice e-Magazine Is Now Available

    The December 2018 edition of our e-magazine, FundingVoice is now available online, you can find it in our back catalogue of editions:December 2018 - FundingVoice - Pre-Christmas Funding From Awards FinalistsThe title of this edition is "Pre-Christmas Funding From Awards Finalists" and this release of our monthly e-magazine includes:If you subscribe to FundingVoice e-magazine, we will send it...

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    FundInvoice Are Business Moneyfacts Awards Finalists 2019

    We are delighted to announce that FundInvoice LLP have been confirmed as "Finalists" for "Best Invoice Finance Broker" in the 2019 Business Moneyfacts awards! This is the 5th year running that we have been confirmed as finalists for an award.We really need a testimonial from you so that we can win this award - if you are a customer, a prospect, a funder that we work with, or a reader of our blog...

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    Business Cash In Time For Christmas

    It's still not too late to get business finance in place in time for Christmas (just!) - but if you delay much longer the opportunity will have passed, until next year.APPLY NOWI posted the other day about how the Christmas period puts additional cash flow pressures on businesses, what with having to pay staff early, bonuses and a slow down in customer payments.Maybe you have been putting off...

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    Receivables Finance Help For Construction Companies Rejected For Invoice Finance

    Construction sector companies often don't quality, or are rejected for invoice finance by the majority of the invoice finance companies. However cash flow can be an issue as debtor payment delays are common within the sector, and protection against bad debts can be helpful in the wake of large company failures, such as Carillion.Help is available though in the form of specialist receivables...

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    Hospitality And Construction Sectors Top The Insolvency Index

    Looking at some figures in Business Money, published from the Creditsafe Insolvency Index, it appears that the hospitality sector (hospitality, hotels, restaurants and bars) tops the insolvency index, followed by the construction sector and then manufacturing. Worrying if you supply those trades with goods or services.Figures from the Office For National Statistics suggest that generally, the...

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    Accounts Receivables Financing Statistics Show A Move Towards Larger Clients

    Having taken a look at the UK Finance (formerly the ABFA statistics) stats to the end of Q2 2018, there are a few trends that are worth noting. Overall members had made £21.4 billion of advances, the majority of that will be accounts receivable financing, with some £4.3 billion being ABL (Asset Based Lending) style facilities.The average advance per client has now increased to almost £531K,...

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    UK Ombudsman Proposals For Banking And Finance Complaints

    UK Finance, the trade association for the UK banking and finance industry, which was formed on the 1st of July 2017, has announced proposals to increase SMEs access to independent ombudsman services.Any SMEs with invoice finance related complaints should see our advice regarding invoice finance complaints.SMEs could soon have banking and finance disputes resolved, and dealt with, via a binding...

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    Thanks To Close Brothers For Inviting Us To Their SubZero Event

    One of the good things about being invoice finance brokers is that you occasionally get invited to introducer events run by the invoice finance companies.Close Brothers Invoice Finance kindly invited us to their introducer event, held yesterday, at the SubZero ice bar in London. Great fun sipping cocktails from glasses carved from blocks of ice, surrounded by ice sculptures, in a room kept at -5...

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    DIY Debt Collection - How To Collect An Unpaid Debt

    We are sometimes asked for help collecting overdue debts. If there are numerous debts or if they are substantial enough there are providers that will handle the case for you, however when the debt is smaller, maybe just a few thousand pounds, although important to you, you may also find that it is often not large enough to warrant getting professional debt collectors, or perhaps even solicitors...

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    Help Funding Christmas Cash Flow Problems

    Hard to believe its only November and we are already planning for Christmas, however there are good reasons to plan ahead at this time of year. The cash flow of your business can be particularly affected by the seasonal effects of Christmas.For example, staff expect to receive their monthly wages early, before the Xmas break - and in some cases there will also be Christmas bonuses due to be paid....

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    Clients Returning So We Must Be Doing Something Right

    We hope that our clients will stay with us indefinitely, however occasionally a client will choose to leave the invoice finance company that we introduce them to, in favour of an alternative. However, that is not always the end of the story. Like boomerangs, sometimes they come back!GET A FREE INVOICE FINANCE QUOTEI was pleased to see a recent example of a client recontacting FundInvoice, after...

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    Discussion Points From The Alternative & Receivables Finance Forum SME Insights Panel

    Following my previous post about the SME Insights panel at the Alternative & Receivables Finance Forum, I went to what was a well organised event, by BCR Publications, at the De Vere Grand Connaught Rooms, London, last Thursday, I was fortunate to have a great group of panelists, for the discussion which covered SME opinions on business finance, Brexit, Fintech and receivables financing trends.I...

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    November 2018 FundingVoice Magazine Is Out

    The November 2018 edition of FundingVoice magazine is now available online. See our back catalogue to read it:November 2018 FundingVoice - 100% Invoice FundingThis edition focuses on increasing funding for existing users, with reference to the 100% invoice funding options that are now available, and the option of funding the excluded debts outside of your existing invoice finance arrangement.We...

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    Are Revolving Credit Lines More Popular Than Single Invoice Finance?

    Which is more popular single invoice finance (SIF) or revolving credit lines? Our experience, as detailed below, is that the majority want revolving credit, with a more modest niche demand for SIF.COMPARE INVOICE FINANCE QUOTESIt's probably best to start with brief definitions of what these terms mean (see our free receivables financing guide for more information). Single invoice finance (SIF -...

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    Feedback From Care Staff Recruitment Company Using Select Invoice Finance

    Nice piece of feedback received from the Managing Director of a care recruitment business that we found a select invoice finance facility for, some time ago.After following up to see how things were going, we received an email saying the following:". . . thanks for checking in. Again, your input has helped massively throughout this whole journey.".Great to get such positive feedback.GET A FREE...

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    SME Insights Panel - Alternative & Receivables Finance Forum

    I had a briefing with the panelists for the SME Insights Panel at the Alternative & Receivables Finance Forum today, ahead of the event that I have been asked to moderate next week. The forum is organised by BCR Publishing, and there is a full day of presentations, panels, case studies and networking opportunities planned around alternative and receivables finance.The SME Insights panel promises...

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    Telephone Debt Verification Removed From Take On Process

    An interesting development from one of the invoice finance companies, who must remain anonymous for what will become obvious reasons.They have decided to remove the telephone debt verification procedure from their take on process, for new customers.Telephone debt verification is the process by which the invoice finance company will contact customers from the clients sales ledger, in order to...

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    Factoring For A New Start Haulage Company

    This is an interesting case that demonstrates just how flexible some UK factoring companies can be. We have just arranged a recourse factoring facility for a new startup haulage company handling frozen food. The company is operated by a foreign national, ex-driver, that was NOT a homeowner. These aspects may have posed a problem for some invoice finance companies.SEE THE PRICE OF...

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    Invoice Finance Facility

    In the last 12 months, FundInvoice have assisted many hundreds of UK businesses with advice, and in many cases, help finding an invoice finance facility. A 25% increase on last year.REQUEST A NO OBLIGATION CALL BACKWe provide a high quality, personal service to find you the best facility for your business. Our service has resulted in us receiving glowing testimonials from satisfied clients. Our...

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    Invoice Finance For Scaffolding

    We have recently been looking to assist a scaffolding company that were looking for invoice finance. This type of finance will release cash from their sales invoices as soon as they raise them, rather than having to wait for the customer (often construction sector businesses) to pay their invoice. We can also help finance the purchase of scaffold equipment and staging, if required.REQUEST A...

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    How We Can Help You Find Business Finance

    Having reviewed of our progress over the last year, I can report that we have again managed to increase the number of companies that we have assisted by 25% from last year.REQUEST A BUSINESS FINANCE QUOTEDuring the last year we have published two new free guides:We have continued to specialise in helping customers find business finance in difficult situations, unable to find the business finance...

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    Invoice Discounting Service Charge Average Percentage

    Invoice discounting service charge is often the term people use when referring to the "administration charge" made for invoice discounting services. It is the percentage of your turnover that you pay the funder to use the service.GET A QUOTE WITHOUT OBLIGATION (and no impact on your credit score).Read about how the costs are made up and what typical costs will be.To compare the fees between...

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    Invoice Factoring For Recruitment Startups

    No sooner had I finished publishing our free business startup guide and we received an email from someone that is looking to launch a new startup recruitment company next year. The question asked was as follows:“. . . would like to query whether we would be eligible for invoice factoring. I acknowledge that with a lack of a trading history this may not be straightforward,”.The alternative...

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    Further Help For Startup Businesses

    As an conclusion to our free business startup guide, below are some useful further resources and sources of further information, help and advice for new startup businesses:FundInvoice are able to help you find a range of different business finance services from business loans, to receivables financing, export finance and trade (or import) finance.Please call Sean on 03330 113622 or request a call...

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    New Startup Business Checklist

    The following business startup checklist is a high level list of the issues and items you need to think about when starting a new business.It is not in any order of importance and some of the items on the list are at a very high level, so there may be a number of subsidiary issues that you have to address under any of the following points.However, it should give anyone starting a new business...

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    Car Repair Invoice Discounting For All Sizes

    We have had a lot of success helping finance car crash repairers. We have assisted the full range of sizes from small companies to multi-million pound turnover companies.  There are no minimum turnover restrictions on these types of facilities so even the smallest businesses can use this type of invoice discounting without the need to worry about minimum fees, or reaching minimum levels of...

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    New Asset Based Lending Funding Company

    One of the most important features of the business finance search service that we offer is that we are continually adding new funding companies to our panel of funding partners. There are almost 100 different invoice finance companies operating in the UK at present.We do this to make sure that we can provide not only the cheapest invoice finance prices, but also the most flexible funding options...

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    Recruitment Outsourcing Without Issues

    I posted the other day about the issues that can be associated with some of the recruitment outsourcing companies who also provide funding. Interestingly, we have just had a conversation with a new outsourcing invoice finance company that are able to provide the full range of services from funding, to payroll management to accountBig services.Being able to access this kind of package of services...

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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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Examples of just a few of our finance partners:

inksmoor
positivecashflow
lloyds bank
leumi abl
acg
ultimate finance group