January 2018
- 31 Jan
FundInvoice Exceeds 10 Million Funding Target
We are pleased to announce that the team at FundInvoice have exceeded our £10M funding target, and arranged £10.75 million of lending for clients.The facilites are spread across a large number of individual corporate clients, and we have dealt with the full range different size clients.Many facilities have been for small businesses, some have been as small as £15K, including a number that we...
- 30 Jan
Pulse On Protecting Against Carillion Bad Debts
I had an email from Pulse Cashflow Finance, one of our funding panel, that I thought raised a great point about the recent failure of Carillion. Their clients will not be suffering any bad debts.They have included "bad debt protection" for all of their clients, including those operating within the construction sector, meaning that their clients are protected from taking a bad debt.OK, so it was...
- 29 Jan
Service Charge & Discount Charge Differences Between Invoice Discounting Companies
I recently reported the 86% differential between the cheapest and most expensive quotes that we received for a particular client situation. This difference was based on a comparison of the anticipated charges that might be levied by different invoice discounting companies.I thought it might be interesting to look in a bit more depth at the components of those costings, and how they vary between...
- 25 Jan
Amicus Commercial Finance Rebrands As Investec Capital Solutions
In the second rebranding within the invoice finance sector this week, Amicus Commercial Finance has rebranded as Investec Capital Solutions, with effect from 25th January 2018.Amicus was launched in 2015, and was acquired by Investec Bank plc on the 6th December 2017, hence the rebranding to complete their integration into the banking group.Their email to their introducers confirms that despite...
- 25 Jan
97% Business Finance Approval Rate
FundInvoice have a strong record in terms of being able to find business finance for companies.We have just checked our records and we found that to date, we have a 97% business finance approval rate.That means that of every 100 prospects that we have dealt with, we have been able to find business finance for 97 or them, with only 3 being cases that we cannot help. This could have been for...
- 24 Jan
Invoice Discounting Minimum Monthly Fees Charges Compared
I was asked to clarify if minimum annual fees are still charged monthly, and how many providers offer a flat fee structure (as opposed to charging a percentage of turnover). The answer is that most providers have moved away from quoting a minimum annual fee, towards quoting minimum monthly fees. The effect is the same, but I guess the number presented to a prospective client seems much smaller...
- 23 Jan
41% Cost Saving On Recourse Factoring
One of the things that we pride ourselves on is keeping up to date with pricing around the factoring market, so that we can find the best rates for our clients.In a recent example we were able to find a c. 41% projected cost saving for a prospect, on the fees that they were already paying - this equates to a substantial annual cost saving for the company.This particular example involved a company...
- 22 Jan
Factor 21 Changes Name To Advantedge Commercial Finance
The established, independent invoice finance company Factor 21 has changed its name to Advantedge Commercial Finance, with effect from 22nd January 2018. The name appears an interesting combination of the words “advantage” and “edge”.We understand that only the name and the look has changed, apparently everything else remains the same.The company has been established since 2001 and...
- 19 Jan
Funding Differences Between Invoice Discounting Companies
Our recent search for quotes from across the market on behalf of an invoice discounting client has also identified differences between the funding approaches of different invoice discounting companies.Based on the quotes provided for a client, we set out to compare the funding levels offered by different invoice discounting companies that we spoke to. The two areas of comparison that we focused...
- 18 Jan
CID Pricing Can Vary By Salesperson
We have just seen a good example of how CID pricing can vary by saleperson (confidential invoice discounting), within a single organisation.This example also demonstrates how difficult it is for clients to keep abreast of the best rates on the market, even if they have a reasonable understanding of the various providers and what has been on offer historically.We recently checked some prices for...
- 16 Jan
Education Finance From Nucleus Commercial Finance
I recently had the opportunity to interview Phillip Speed of Nucleus Commercial Finance, about their Education finance product.The market for further and higher education is apparently worth a huge £2.5 billion, and there have been big developments in aspects of the education sector, such as apprenticeships.In response to this, Nucleus Commercial Finance have launched their education finance...
- 16 Jan
Carillion Liquidation Help For Contractors
With the liquidation of Carillion many contractors that supplied the countries 2nd largest construction company will be looking to understand what help they can access as a result of the money that they are owed by this construction giant.The good news is that many companies have pledged support. Some of the major banks have offered up support funds, many alternative finance companies have...
- 08 Jan
Comparison Of Quotes for Confidential Invoice Discounting - 86% Difference
This is a comparison of the confidential invoice discounting quotes that we checked for a company recently. Also known as CID, this kind of facility provides funding but allows the prospect to retain control of their own credit control function, without their debtors being alerted to the involvement of a third party funder. The business was a straightforward average size proposal, but of the 13...
- 05 Jan
Up To 25% Lower Charges By Taking Out Protected Invoice Discounting
Interested in saving up to 25% on your invoice discounting charges?Some factoring companies will actually lower the service charge element of a factoring quote if you agree to take bad debt protection, as an optional extra.A few well known providers recently quoted for a potential client and told us that they would be able to reduce the administration charge (often referred to as service...
