- 22 Aug
Businesses Don't Understand How Easy It Is To Get Invoice Finance
The invoice finance brokerage is continually being approached by factoring and invoice discounting companies with money to lend and it is very rare that we are unable to help a client get invoice finance (providing they raise credit invoices), regardless of circumstances. Overdrafts on the other hand have become harder and harder to get and we have spoken to numerous clients that have had their overdraft removed.
So in our latest invoice finance research survey, amongst 100 randomly selected SMEs, we wanted to find out if businesses realised how comparitively easy it was to get invoice finance so we asked them "For businesses generally do you think it would be easier, harder or about the same level of difficulty to qualify for invoice finance as it would for overdraft?". The answer was quite shocking.
Just 7% of respondents thought that it would be easier to get invoice finance than to get an overdraft!
What a startling result that reveals an enourmous gulf between reality and the perceptions of businesses.