2018

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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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    How Effective Is Using Blockchain To Avoid Invoice Finance Fraud?

    I have seen quite a few articles recently suggesting that blockchain technology can be used to help combat invoice finance fraud. I have written before about the benefits of using blockchain in an invoice finance scenario.The first time I came across this application was an organisation called Populous who are presently are launching what they believe to be the first blockchain based invoice...

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    Factoring For Road Transport Company Cash Flow Problems As Bad Debts Increase

    Coincidently, just after posting my article about transportation factoring companies, I saw an article published online by the Motor Transport publication, suggesting that bad debts have risen significantly within the road transport sector.The article sites figures regarding the road transport sector, released by Credit Safe. This statistics show that in the first quarter of 2018, while sales...

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    Retailageddon - Why Are So Many High Profile Companies In Financial Trouble?

    Can anyone explain why so many high profile companies are having financial problems? Is there cause to worry about economic stability?I first started really paying attention to the spate of emerging problems when Carillion collapsed, the second largest UK construction firm. Watching some of the social media commentators that have an interest in the credit insurance sector. Since then there seem...

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    Transportation Factoring Companies

    Transportation and distribution are key sectors for the use of factoring services. Many companies within those sectors use this form of funding, in order to unlock cash to improve their cash flow.Transport companies accounted for 6.6% of all clients of members of the ABFA (now UK Finance) as at the end of December 2017. Distribution companies accounted for 23.5% of client numbers, at the same...

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    Factoring Examples

    Below I have set out some factoring examples, so that you can see exactly how the product works.GET A FACTORING QUOTEBelow are a variety of examples of situations where factoring can and a fit your business.If you are not currently using the product, any outstanding customer invoices can be immediately turned into cash, boosting the working capital available to your company.A good example of this...

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    Factoring Advantages And Disadvantages

    If you are looking at using factoring as a source of funding for your business, you may be interested to understand the pros and cons.Below I have set out the factoring advantages and disadvantages in simple terms, so that you can make an educated decision.The biggest advantage is the improvement to your company's cash flow. As you raise new invoices to your customers on credit terms, they are...

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    Alternative Finance If Declined By A Bank

    If your company is having difficulty finding business finance through traditional sources i.e. banks, you may want to turn to the alternative finance market, which will provide further options.There are plenty of alternative finance solutions here, we have arrangements in place with a large number of funders that can help in a wide range of circumstances.One option is a business loan from an...

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    Business Loans For New Start-Up Companies

    Business loans can be provided to new start-up companies. There is an appetite for lending to startup companies, whether or not the Directors are homeowners.This may be good news if you are thinking of starting a company and need some capital to get you up and running.It is not the case that all lenders will provide loans to startups. Funding Circle for instance, state in their investors guide,...

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    Make Money By Referring Companies For Business Finance

    You could make some additional money by referring companies to us that need business finance. We get paid a commission on any deals that we successfully place and they take up a facility. We would be happy to split any commission received with you.CONTACT US ABOUT INTRODUCINGThere is lots of information on our website about the kinds of finance that we can find for companies. In broad terms it...

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    Card Payment Advances From Nucleus Commercial Finance

    We have just had some new literature through from Nucleus Commercial Finance regarding their Business Cash Advance product, BCA.We have previously documented their BCA offering, but below are the key details once again.The card payment advance is available to companies that take payments via a card machine. You can borrow up to 120% of your total monthly card payments, up to a maximum of...

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    Solving 5 Problems For Recruiters

    This article sets out 5 common problems that we can solve for a recruitment company.Most recruiters would like to have more time to work on placing candidates or temps. We can help solve this by outsourcing a number of your back office functions for you, freeing up time that you can spend recruiting candidates, or temporary staff, and placing them with customers. After all that is the core...

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    UK Finance 2017 Statistics Indicate High Growth Business Users

    UK Finance, who recently absorbed the industry body formerly known as the ABFA, have just reported on their year-end statistics for 2017, for the invoice finance and asset based lending market amongst their members.It is important to note that not all invoice finance companies are members of the UK Finance industry body, however the figures do represent a large proportion of the UK market.The...

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    Do You Know The Standard Payment Terms Your Customers Can Take?

    Did you know that the standard payment terms in the UK are 30 days from the date of your invoice?Many will not be aware that if you did not specify payment terms within the contract with your customer, there are default standard credit terms that will apply to your invoice. At the current time, those are payment within 30 days of the invoice date. You can check this for yourself on the government...

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    Interest Only Loans For Start-Ups

    Finding finance for new start-up company can be difficult, but there are funders within the market that can help.We have just received notification from Nucleus Commercial Finance, one of our funding panel, that they have launched “Start-Up Finance”, a specialist interest only loan product for new start companies.The new company can borrow between £25,000 and £20 million, secured against...

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    5 Things To Check When Completing Your VAT Return

    As it is coming to the end of the VAT quarter again, I thought I would make a list of the five things that I check regarding each VAT return. The list is not intended to be comprehensive, and we are not providing any accounting advice, rather this is a list of the items that I check.If like us your accountant produces your VAT return, you will still need to check that the figures are...

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    Simple Explanation Of Factoring

    This is a very simple explanation of factoring. For a detailed explanation of the full range of product variations please see our free guide to the different types of factoring.In very simple terms, factoring is a financial service for businesses. It provides two core services, and there are a number of additional optional extra services. The two core services are funding and credit...

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    The Cheapest Invoice Finance Company

    If you are looking for the cheapest invoice finance company, you may be surprised to know that there is no single company that answers this description.The cost of an invoice finance facility depends upon a number of factors, and the cheapest provider for any particular circumstances varies according to those circumstances.We have undertaken extensive research into the pricing of invoice finance...

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    What To Do If A Supplier Puts You On Stop

    What to do if I supplier places you on stop.It is common practice within credit control to place a customer “on stop“ if they have not kept their credit account sufficiently up-to-date.What this means is that the supplier refuses to provide further goods, until the credit account has been paid up to date.This can cause a significant problem for the debtor as they may need further supplies in...

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    Leveraging Target Company Assets To Raise Money For An Acquisition

    We have continued to work with a number of parties who are looking to make acquisitions by leveraging the assets of the target company that they are acquiring. This is a way to raise part or all of the purchase price to pay for the business that is being acquired.This methodology of raising acquisition finance is not widely known, but it can be an excellent way of facilitating the acquisition of...

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    Recruitment Startups Building Up Enough Trade For Receivables Financing

    We have recently spoken to a few new start recruitment companies recently that have taken the approach of waiting to set up their receivables financing arrangements, until they have what they consider to be a sufficient amount of work in the pipeline.This may sound logical, but there are several reasons why it may not serve your best interests as a recruiter.There are a couple of things to...

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    Business Funding For A Discharged Bankrupt Director

    We have expertise in helping companies that have struggled to raise the business funding that they need elsewhere. There can be for many different reasons, but one that we are currently working with is a company where the Director is a discharged bankrupt.Bankruptcy is where an individual cannot pay their debts (they are insolvent) and either they petition a Court to be made bankrupt, or they are...

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    Is Invoice Finance Expensive?

    Is invoice finance expensive?The answer to the question is that it doesn’t have to be. However, if you choose the wrong provider, you could end up paying more than you need to.Our research has shown that overall pricing for, as an example, a factoring facility can vary by 165% from the cheapest quote to the most expensive. We also saw an 86% differential between the top and bottom of the...

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    Funding For A Car Crash Repairer Within 3 Days

    This is a great example of how quickly a car crash repair company can get funding against their invoices.We were contacted at 4:30pm by a car crash repair company that had an invoice for £4,000 that they wanted to receive funding against. The way that this type of car repairer finance works is that they receive 100% of that invoice value, less a fee for the transaction.The actual enquiry was...

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    Short Term Invoice Finance

    Many companies are not aware that you can use invoice finance on a short-term basis. There are facilities available that are of an ongoing nature, for long term use, but there are also short-term invoice finance facilities that allow you to use the service for as little time as you feel you need to.Invoice finance works by releasing a proportion of the value, of your credit sales invoices,...

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    Protection For Suppliers To UK Retail Chains

    If you are a supplier to any of the large retail chains, you may wish to review your requirement for bad protection following a number of recent news reports from the retail sector.More problems have emerged from the sector as the BBC report that Prezzo, the Italian restaurant chain plan to close approximately a third of their retail outlets, as part of a creditors voluntary arrangement...

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    Using Factoring To Repay Trade Finance

    Not all importers are aware that you can use factoring to repay a trade finance facility.Trade finance can be used by importers to pay overseas suppliers for goods that they are importing into the UK. It can also be used for purchases of products from within the UK, in which case it works in a very similar fashion.There are a number of different options as to how the facility can be structured,...

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    Looking For The Best Invoice Finance Company?

    #BMFawards 2018FundInvoice were pleased to be confirmed as Finalists for Invoice Finance Broker of the Year - 2018, at the Business Moneyfacts awards cermoney that was held on the 21st of March 2018 at the Royal Lancaster hotel, in London.There were numerous awards, presented by Claudia Winkleman (from Strictly Come Dancing), across a range of finance products, but those with an interest in our...

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    What Is Confidential Invoice Finance?

    Confidentiality is a term applied to an invoice finance facility where the debtors (the customers of the company using the facility) are not aware of the involvement of the invoice finance company. Some companies prefer this as they do not want customers to be aware that they are using funding or a third party outsourced service.It is an umbrella term for a range of different variations on a...

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    How Does Body Shop Factoring Work?

    Car repairers, and car crash repair specialists, often use body shop factoring to release the money tied up in unpaid sales invoices.Although their invoices tend to be to insurance companies, which can be of good standing, there can often be a delay in receiving payment, which can mean waiting 60 days or even more in order to receive payment for a repair that has already been completed. This can...

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    BMF Awards Tomorrow Night

    Tomorrow night is the awards ceremony for the Business Moneyfacts Awards 2018, at the Royal Lancaster Hotel, in London.FundInvoice are pleased to have been confirmed as Finalists for "Best Invoice Finance Broker 2018". This will mark the fourth year running that we have been shortlisted for a BMF Award, an achievement for a company of our size, especially up against numerous larger competitors...

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    How To Finance A Large Order

    The feeling when you win a large order, or contract, can be amazing. However, the euphoria can be short lived as large sales often bring with them a number of potential problems, not least of which may be how to finance a large order.The first issue is that your resources may have to be focused on delivering against that large order. This can take your focus away from dealing with smaller...

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    Service Charge 67% Of Overall Recourse Factoring Fees

    After recently reviewing the result of our confidential invoice discounting (CID) pricing research, I looked back at our recourse factoring pricing study, which completed about a year previously.The results were similar in that they showed a wide range of pricing differentials between the top and bottom ends of the market, in fact the range was a staggering 165% between the cheapest and most...

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    What Is A Prepayment?

    There is a lot of jargon used in the invoice finance industry, "prepayment" is one of many terms commonly used without explanation. Below we explain what a prepayment is. It can also be called an "early payment" or an "initial payment" by some providers.A prepayment is a cash advance against an unpaid sales invoice raised on credit terms, or application for payment - which are sometimes used in...

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    Invoice Finance For 100 Percent Permanent Placements

    An interesting recent case where one of the invoice finance companies passed a client to us, that they were unable to assist.This particular case was a specialist recruitment company, dealing with the education sector - staff such as nursery teachers. The agency dealt with 100% permanent placements, that is recruiting for permanent roles, rather than temporary staff.Temporary staff recruitment is...

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    Funding Invoices For Body Shops

    If you are a body shop, undertaking crash repairs that are billed to insurance companies, you may be waiting 60 days or more to get paid for the work that you undertake.You don't have to wait to get paid, you can sell those invoice for their full value (less a small charge for using the service) and get your money in 24 hours. You will not have any further responsibility after you sell the...

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    Why You Should Not Just Compare Invoice Discounting Pricing Percentages

    So often we speak to customers that are comparing various offers for invoice discounting, and their key measure for comparison is the headline administration (often wrongly referred to as service charge) charge percentage.With an offer for invoice finance, you normally are quoted a service fee (or administration fee for invoice discounting), a discount charge (similar to interest) and then there...

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    Funding For Growth In Body Shop Car Crash Repairs

    The body shop car crash repair sector is one that often uses invoice finance to fund their growth. There are specialist funders that deal with the body shop sector and the funding service tends to work in a slightly different way to other sectors.The most obvious difference with body shop invoice finance is that the prepayment level is often 100% of invoice values (less charges). This high level...

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    Testimonial From A Care Home Recruitment Company

    We were delighted to receive this testimonial, and 5 star rating from a company that we helped find invoice finance last year.They rated our service 5 stars out of 5 and their Finance Manager, at this care home recruitment company, had this to say about the help that we provided:"Last year when we were looking to change an existing factoring facility, Sean was able to come up with an excellent...

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    Selective Debtor Finance From Scottish Pacific

    I have just had an email from Scottish Pacific Business Finance which was headed “Invoice finance with a difference“. The addition to their product offering is a selective debtor finance option.The way that the product works is that you are able to select debtors against which to receive funding and bad debt protection, if required. You do not have to select more than one customer and you can...

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Examples of just a few of our finance partners:

ashley
marketinvoice
woodsford tradebridge
inksmoor
leumi abl
hitachi