- 14 Mar
How Invoice Finance Companies Calculate Prices, Charges & Funding
A new article setting out, with examples, how invoice finance companies calculate:
- Prices, pricing and charges
- Funding levels and initial payment percentages
How Invoice Finance Companies Calculate Prices, Charges & Funding
Related articles
- 19 Dec
Do You Need Invoice Finance Surveyor Or Auditor Resource?
Do you need more survey or audit resource? If so a very experienced colleague is looking to undertake surveys and audits, for invoice finance and factoring companies on a self employed basis (please note that the services are provided directly to you by the freelancer and not via FundInvoice LLP).REQUEST A CALL RE SURVEYS / AUDITSWe have know this particular freelancer for a very long time, so we...
- 06 Nov
97.5% Business Funding Success Rate
We have managed to find funding for 97.5% of the businesses that we have spoken to over the course of the last year.FIND BUSINESS FINANCEWe regularly look back and back to see what proportion of customers we have been able to help. The last time we checked it was 97 percent. Well since then, we have improved by half a percentage point to 97.5%. A really high success rate.That means that we have...
- 16 Oct
An Alternative To Funding Business Through Credit Cards
Are you funding your business through your personal credit cards? It is an easy trap to fall into, and one that can prove to be very expensive. There is a cheaper alternative method of funding your business.An article in the Guardian (21/09/19) quotes figures from Moneyfacts showing that average credit card interest rates have now hit 24.7% - their highest point since 2006. With base rate holding...
- 28 Aug
Fast Funding For Your Business Within 7 Hours
Fast business funding is explained in this short video which demonstrates how we arranged funding in just 7 hours from enquiry to cash in the customer's bank account:Please see our free guide to invoice finance, which explains how invoice funding works. Not all facilities can be completed so quickly, however we are generally able to meet the speed requirements of our customers. Although this...
- 10 Jul
30 Seconds On - Invoice Finance Explainer Videos
Nobody has time to waste these days, we all know how it is to be busy. When you are looking for guidance online, YouTube is a good source of information about products and services but I find myself growing more frustrated with the length of guidance videos that I watch, often padded out with calls to "like", and "subscribe" to the subject YouTube channel. So I thought - make it shorter.Watch our...
- 27 Jun
How To Terminate An Invoice Finance Facility.
Termination of an invoice finance facility can happen for a number of reasons, driven by either the facility provider or the client.SEEK ALTERNATIVE QUOTESFirstly we should say that this information is not a substitute for seeking guidance legal advice from a solicitor regarding your arrangements - you should seek independent legal advice.Your invoice finance company will have the right to...
- 26 Jun
Worried About Punitive Measures And Reprisals When You Terminate?
Leaving an invoice finance company, who are providing your funding for your business, and in some cases other services such as credit control for your debtors, can be a daunting task. There tends to be a close relationship between the provider and the client, particularly in the case of factoring facilities where the provider is undertaking the credit control activity for their client.Termination...
- 24 Jun
Leaving Invoice Finance Before The End Of Your Notice Period.
Leaving your invoice finance company, before the end of your period of notice of termination, is often possible although many are unaware of this option.When you enter into a whole turnover invoice finance arrangement, it usually comes with a minimum contract period and a period of notice of termination (selective arrangements often have no minimums or notice periods).The minimum contract period...
- 21 Jun
When Can You Terminate Your Invoice Finance Facility?
Anniversary termination is one misconceptions that is common amongst existing invoice finance users. We come across many existing users of factoring, and invoice discounting, that are under the impression that they can only leave their present provider on, or around, the anniversary of their facility. This is rarely the case.We have noticed that a number of new clients seem to be under the...
- 27 May
Help With Invoice Finance Funding Restrictions.
Funding restrictions can be a problem for some businesses using invoice finance. There are a number of ways that restrictions can arise, and there are a number of possible solutions. Not all funders will apply the same restrictions.For help with funding problems please call Sean on: 03330 113622.Funders constantly review their client's accounts, and they can apply funding restrictions at any...
- 10 May
Funding Contra Accounts
Contra trading accounts are customers who are also suppliers. This can occur when you purchase from a company that you also supply as a customer.An example might be a company that you sell finished products to, but also occasionally buy some raw material from. It is also sometimes seen in the haulage industry. It can occur in any sector where you sometimes purchase from customers that you also...
- 09 May
A Detailed Explanation Of Invoice Dilutions.
Invoice dilutions are any factors that reduce the value of a sales invoice. This is important to invoice finance companies as they look to your outstanding sales invoices as security for any prepayment that they make to you.If an invoice is for say £1,000, you would expect that your customers will pay you £1,000, once the invoice falls due. An invoice finance company will provide funding...
- 24 Apr
Our Personal Service To Find You Invoice Finance.
Personal service is something that is in short supply these days, but that is exactly what the small team at FundInvoice offer. We provide a personal service to find you the best invoice finance facility for your company. We are completely independent.Our service is why we have been finalists at the BMF Awards for 5 consecutive years, alongside our much larger competitors. For personal support...
- 15 Mar
The Benefits Of Blockchain And Their Application To Invoice Finance
Answering my previous question about the benefits of applying blockchain technology to invoice finance, I received this interesting summary from Jack Mitchell, a Regional Sales Executive at Close Brothers Invoice Finance. The views expressed below are his own and so they do not necessarily reflect the views of Close Brothers Group.As promised I've listed below some of the use cases of Blockchain...
- 14 Jan
How Does Factoring Improve Your Cash Flow?
Improving cash flow can be a major dilemma for a business. Often money is just not being received fast enough to meet your outgoings in a timely manner.The effects of having poor cash flow may include:If you cash flow gets too bad, creditors such as trade creditors (that you purchase supplies from) or HMRC could end up taking legal action against you, and that could lead to your business...
- 18 Dec
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,...
- 27 Sep
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...
- 11 Aug
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...
- 05 Aug
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...
- 21 Jul
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...
- 26 Jun
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...
- 20 Jun
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...
- 17 May
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...
- 09 May
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...
- 02 May
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...
- 19 Apr
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...
- 22 Mar
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...
- 17 Mar
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...
- 15 Mar
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...
- 13 Mar
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...
- 09 Mar
Hedging Funding Risks - Don't Discount Your Options
A key part of running your own business is identifying risks and mitigating them, always hedging your bets.We had an interesting example recently with a prospective client that almost lost out by discounting quotes for business financing, believing that they had their requirements covered by other lenders that subsequently withdrew their indicative offers.In this particular example, the client...
- 14 Feb
Please Refer A Company To Us
We would be very grateful if you would refer a company to us to get them a business finance quote. As a reward, we would like to give you a free bottle of champagne, for every UK based referral that you make over the next three months, that successfully becomes a client (if you are under 18 - yes anyone can refer to us - or not a champagne drinker, we will happily substitute a gift card of equal...
- 13 Nov
5 Facts About Invoice Finance
These are 5 Facts About Invoice Finance for businesses that you should know about it you are an existing user, or if you are looking for a new source of business finance.Please share the above infographic on your blog or website, just cut and paste the following HTML code into your site:450 pixels wide:
- 31 Oct
Subscribe For Our Latest Invoice Finance Newsletter
I have just emailed the October 2017 edition of FundingVoice magazine to our database of over 6,500 subscribers. However, I am always running behind in getting these onto our website. We publish it every month but I have only just put the July 2017 edition live on our site.It has details of any invoice finance offers, other business finance offers, cash flow and credit control advice. Sometimes...
- 25 Oct
How To Solve Cash Flow Problems
If you are looking for a solution as to how to solve cash flow problems for your company, there is a simple solution in the form of invoice finance.Cash flow problems occur when the income of a business is too low for not received quick enough in order to settle its expenses. There can be a multitude of causes which can include:The solution depends somewhat on the cause of the situation. If a...
- 20 Oct
Compare Invoice Finance Prices With Other Forms Of Funding
If you are looking to raise funding for your business, price is likely to be one of your key concerns.CHECK OUR FINANCE PRICESSimilarly though, if you are already using any form of business finance a cost saving can come in very handy. We make it our business to save companies money on existing funding costs or quotes that they have received for new lending. Let us see how much we can save you by...
- 10 Oct
Fed Up With Your Bank Owned Factoring Company?
We had an enquiry recently from a company that were already using a factoring service from a bank owned factoring company. They were so fed up the lack of service and the lack of funding that they were considering leaving altogether, and wanted an alternative form of finance.To illustrate how bad the situation was, they mentioned a large schedule of debt that they had just submitted to their...
- 05 Oct
Is Anyone Developing Blockchain Invoice Finance?
If you are an invoice financer that has considered using blockchain / cryptocurrency please let me know.I am interested to know if any of the existing factoring and invoice discounting companies are either developing a cryptocurrency, blockchain invoice finance offering or have looked into using cryptocurrencies. So even if you decided not to go ahead, and discounted the option for some reason I...
- 07 Sep
Very Low Level Of Complaints About Invoice Finance
This is an update on the very low level of complaints registered with the ABFA. These statistics include products such as invoice finance, factoring and invoice discounting.The ABFA (Asset Based Finance Association) recently became part of UK Finance. There is a process of integration to be undertaken, but in the meantime the ABFA complaints process (the ABFA Standards Framework) remains...
- 06 Sep
Can Anyone Explain The Benefits Of Cryptocurrency Invoice Finance?
Can anyone explain the benefits, to an average SME, of using blockchain cryptocurrency invoice finance?The important distinction here is the benefits to the SME using the facility, rather than the investors backing the service and the benefits of cryptocurrency over and above the normal benefits of using invoice finance - with which we are acutely familiar as invoice finance brokers.I have...
- 17 Aug
Tungsten Network Finance - Should The Invoice Finance Sector Watch Out?
I was intrigued to read Motley Fool's post (15/08/17) about Tungsten Corporation PLCÂ (and their recently launched invoice financing service), which said it was firmly on their list of stocks to avoid. I had heard about the Tungsten Network Early Payment product in the recent past as they had added this invoice financing option onto their supplier payment system. This, on the face of it, sounds...
- 14 Aug
Populous Invoice Finance Using Blockchain Cryptocurrency
A new invoice finance company called Populous has just raised money to pilot its invoice finance platform that uses Blockchain cryptocurrency in support of an invoice financing model, according to an article in Pymnts.com.I read the 21 page white paper on the Populous site, with some interest, to understand what the benefits might be.In essence there seem to be 3 key points to draw from this...
- 11 Aug
PNB Paribas Moves Into Invoice Financing - Again?
I have just read an article in Finextra, dated just 2 hours ago, titled "BNP Paribas Moves Into Invoice Financing". It made me think for a moment, because I was sure that they were already active in the invoice finance arena - and sure enough they are on our list of invoice finance companies. The article goes on to talk about the launch of their new system, FINSY, a digital solution to allow...
- 31 Jul
Bundled Fee For Textiles Business
Curious situation with a client at the moment.The client is a textiles importer and we have found them an invoice finance facility with one of the leading invoice financing companies, to deliver much needed cash flow. They are also very keen on achieving the best rates available.They wanted a single fee structure, often referred to as a "bundled fee" within the industry. Normally the charges are...
- 21 Jul
MarketInvoice Pro Now Handles Euros & US Dollars
MarketInvoice PRO, the new whole turnover invoice finance offering from Europe's largest peer-to-peer invoice finance platform, was lauched in February 2017. It has already been upgraded to be able to handle currency invoices in addition to invoices in Sterling (GBP).MarketInvoice PRO is now able to handle the following currency invoices:Making it even more flexible.If you would like more...
- 27 Jun
Medical Reports Invoice Finance With Extended Recourse Periods
A sector that should be ideally suited to the use of invoice finance to improve cash flow is the medical reports production associated with litigation cases. For example these could be medical reports in support of road traffic accident disputes, personal injury claims or medical negligence claims. Whilst few invoice finance companies will handle this sector, we can provide access to those that...
- 22 Jun
Testimonial As Invoice Finance Stops Recruiter Closing Down Business
Its always nice when we get testimonials, this was one that we received regarding a client, a recruiter, who said that our assistance stopped them closing down their business.Recruitment finance is one of the areas that we tend to specialise in, as the number of staff agencies using invoice finance is approximately 20 times the national average.This was the comment given by one of the Directors...
- 20 Jun
Help With Invoice Finance Prime Debtor Problems
If you have one single customer, or perhaps just a handful of customers, it can cause you problems with your invoice finance facility.Some factoring companies like to restrict funding in respect of prime debtors (the biggest customer balances on your sales ledger). This can lead to all sorts of cash flow problems for the client. We have helped with many situations where a prime debtor restriction...
- 19 Apr
Tiered Prepayment Charging On Invoice Finance
Tiered prepayment charging is a new offer from one of our invoice finance partners. It means that you pay less if you use less than the full amount of funding available through your invoice finance facility.Prepayment is the percentage of your approved, unpaid sales invoices that invoice finance makes available for your to draw even though the invoice hasn't been paid.The less prepayment you...
- 27 Mar
Invoice Finance Job 85K plus Unlimited Bonus
UPDATE ON THIS POST - RECRUITMENT FOR THIS ROLE HAS BEEN TEMPORARILY SUSPENDEDI have just been asked if I knew anyone that might fit this job in the invoice finance sector - so here are the details in case anyone is interest or knows someone that is looking for a job like this.It's a sales role as the number 2 at a new single invoice finance company, based in North Kent (a sales background is not...
- 20 Mar
The Power Of LinkedIn Networking
I just wanted to share a success story about the power of LinkedIn networking and how it helped a prospect looking for an invoice finance service.Networking is not just about sales, this is an example of how it can work for you creating a sale indirectly. You may have seen that I recently published a blog post about a small seletive invoice finance prospect that we were struggling to find a...
- 15 Mar
Can You Help This Selective Invoice Finance Client?
Are you a selective invoice finance company that can finance this prospect?We have been contacted by a prospective selective invoice finance client, but we are having difficulty finding an invoice finance company that will help them.If you think you may be able to provide funding to them, please get in touch or call: Sean on: 03330 113622.The key points of the deal, that are proving problematic,...
- 06 Mar
Selective And Whole Turnover Invoice Financing
Invoice financing can be broken down in many ways, one is into selective invoice financing and whole turnover. Selective means that you choose which invoices you want funded, and whole turnover means that all of them are automatically considered for funding.This infographic show the results from our research to establish the market demand for each approach.As you cans see almost two thirds...
- 02 Mar
CPE Credit Protection Element Refunded Offer
Another offer for clients from one of our funding partners. If you are looking for bad debt protection (also known as non recourse), you will pay what is called the CPE or Credit Protection Element of your service charge for the bad debt protection.Under the terms of this promotion, our partner is offering to refund the first 6 months CPE charge to new clients, in return for them entering into a...
- 23 Feb
Up To 100% Invoice Finance
Another special offer from one of our funding partners. They are offering up to 100% of invoice value as a prepayment level for clients using either:-Â Factoring- Invoice discounting, or-Â Export factoringThis can be made available to Limited Companies or LLP's that have a good quality sales ledger, low credit note levels and customers that generally pay on time. You will need to be able to...
- 22 Feb
No Service Charge Offer & 25% Off Bad Debt Protection
One of the key reasons companies come to invoice finance brokers, like FundInvoice, is that we are always aware of the latest invoice finance offers and discounts that are available. We also tend to get exclusive offers from our funding partners.This a good example of two invoice finance offers that have just been given to us on a (semi) exclusive basis, by one of our funding partners:New...
- 16 Feb
Invoice Finance In East Sussex
If you search for "invoice finance East Sussex" very little local support will be offered by the Internet search engines. FundInvoice are based in St. Leonards-on-Sea, East Sussex (near Hastings), we handle clients in the local area and we also deal with clients from all over the United Kingdom.These days there are very few invoice finance companies actually based in East Sussex. If fact, I could...
- 14 Feb
Education Finance & Education Cash Flow
There are a few invoice finance companies that are now able to offer Education Finance.It is offered to eductation providers, such that they can receive an advance and secure a line of credit against their funding payments. The funding payments are received from Government, so from the financiers perspective that is a good quality debt against which to provide funding.This kind of funding means...
- 10 Feb
MarketInvoice PRO Launched
A clever move by MarketInvoice who have just launched "MarketInvoice PRO" their Confidential Invoice Discounting product, designed to respond to customer demand and complement their existing selective invoice trading facility, which is available to smaller businesses.The new service provides customers with a funding line against all of their outstanding sales invoices. To qualify customers...
- 08 Feb
Factoring For A New Startup From Winding Down A Recruitment Agency
Circumstances changes and business partners sometimes decide to go their own ways. In this case we needed to arrange a replacement factoring facility when two directors decided to wind down their company.This happened in the case of a recruitment company that one of our partners was funding via recourse factoring, which provides users with both funding against sales invoices and a debt collection...
- 07 Feb
Change From Factoring To Selective Factoring
Within the factoring arena it is never a case of "one size fits all". We recently had a case with an existing client, a small recruitment company that we had found a factoring facility with a leading whole turnover factoring company.The issue for out client was that, as a new startup, they were finding their sales turnover sporadic, and so the facility was not really ideal for them.With a whole...
- 05 Jan
Accounts Receivable Financing A Patented Product
Getting financing when you have invented a new, innovative product can be difficult. We all see TV series such as Dragon's Den and The Apprentice where a very select few get to compete to get their ideas financed by those with the money to back them and the experience & connections, which can count for more than the money, in many cases when you are dealing with issues such as applying for a...
- 04 Jan
Get Invoice Finance Fast
Sometimes new customers need to get invoice finance fast, as quick as possible. In some cases speed is not the key priority, but we aim to provide a very fast turnaround in case you need it.Yesterday, was a great example of the speed of service that we can provide. We received the first enquiry of the new year, a company looking for selective invoice finance against some substantial invoices.The...
- 09 Dec
Why Companies Don't Know About Invoice Finance
I have had an interesting point raised, about the #IFaware campaign, and the research that led to it's inception.Alex Fenton, the Founder of GapCap commented on my LinkedIn article, about #IFaware, asking why I thought awareness levels of invoice finance were so low in the UK.My opinion about the reasons for the low awareness levels included a couple of aspects. Firstly, our previous research...
- 29 Nov
400,000 Companies Unaware Of Invoice Finance
I have tried to estimate the potential size of the UK invoice finance market, and my numbers suggest that some 400,000 eligible companies are unaware of invoice finance.There are apparently c. 5.4 million businesses in the UK, according to Government figures.I took a database of UK businesses and selected those that fell within generally acceptable trade sectors for invoice finance. I also...
- 28 Nov
Support Growing For The #IFaware Campaign
Support is already growing for our #IFaware invoice finance awareness campaign. This is our newly launched initiative to make some small effort to tackle the issue of only 2 out of 3 companies knowing what invoice finance is. However, there is a huge way still to go so we need more people to share this message if we are going to raise awareness levels amongst the 32% that have never heard of...
- 21 Nov
6 Ways To Solve Seasonal Cash Flow Problems
As we head toward the Christmas period many companies will be begining to experience seasonal cash flow problems.Thefore, below I have set out 6 ways to solve seasonal cash flow problems.At the bottom of this post you will see that there are some further resources, such as case studies and articles, that you may also find helpful.Before setting out the solutions to the problem, the causes need...
- 30 Oct
Crowdfunding Makes The Apprentice On BBC1
The latest bunch of hapless Lord Sugar wannabes kicked off this season off the BBC's #TheApprentice a couple of weeks back. In the second week they demonstrated even less than the normal amount of business accumen, when both teams failed the advertising task. This week saw them taking over part of Liberty of London and, as usual, ignoring the advice of experts sent to help them e.g. having a live...
- 19 Oct
Problems With Your Invoice Finance Company
If you need help because you are having problems with your invoice finance company, first check if they are member of the ABFA (Asset Based Finance Association). Whilst the ABFA is not a regulatory body, the invoice finance companies, that are members, are bound by a code of conduct that is backed up by an independent Ombudsman complaints process.You can read a copy of both the code of conduct,...
- 14 Oct
Contact Details For Invoice Finance Companies
I have been working on adding a number of direct response forms to our list of invoice finance companies in the UK. These give you the ability to either request that they call you back, or in some cases to provide the details required in order to get a quote (depending upon how the factors modus operandi fits with our standard forms). There are a few more to add but I am working my way through...
- 03 Oct
New Home For Glenn Blackman's Invoice Finance Blog
This is now the new home for Glenn Blackman's Invoice Finance blog! Previously my blog was running on its own domain, glennblackman.co.uk but we thought it would be neater to move everything to the main FundInvoice site (it also cuts down the amount of maintenance needed!). We have also updated all the social media sharing buttons so it should be easier to share posts. You can find the new home...
- 19 Aug
Problems With Home Ownership And Poor Credit History?
We have had an issue recently with a factor turning down a small recruitment company, that we had introduced, due to the prime movers not being home owners and having some previous defaults on their credit history - not CCJs, defaults. It is hard to believe that any factoring company would turn down the chance to fund a small recruitment deal, considered the "bread and butter" within the...
- 02 Aug
Selective Invoice Finance New Providers
There seems to be a constant increase in the number of suppliers of selective invoice finance. Again over the last week or so we have been contacted by two more new providers. Good news, more choice for customers and there is definitely a place for selective facilities. However, the majority of the business that we see is looking for a whole turnover style arrangement, rather than just factoring...
- 29 Jun
Recruiters Help Area
We now have a help area for recruiters on the site.It has help regarding funding options that are available, credit control support and payroll outsourcing. We have included a number of case studies explaining how we have helped staff agencies in the past, and we will be adding the findings from our survey of local recruiters to that page as we release them....
- 26 Jun
Finance For Shops
Many people think that invoice finance companies are not able to fund the retail sector, shops etc. However, some of them are. There are specialist retailer finance products that provide finance against your credit/debit card machine takings, based on your history of trade. This can release a cash injection into your business to use for any purpose.For more details: Shop finance...
- 20 Jun
Faster Payments In Recruitment
Our new article about payment delays in the local recruitment sector, shows that more than half of them want to get paid faster. Late payments seem to be creeping into all sectors, even those with historically short payment cycles. Other research that we conducted showed that 87% of existing receivables financing clients thought that greater use of the products would improve the UK's late payment...
- 27 May
Split Your Sales Ledger Between Two Invoice Finance Companies
Many people don't know that it is possible to top up your funding from an invoice finance company, or bank, with funding from a second invoice finance company, by splitting your sales ledger between the two funders. Different providers take different approaches to the risk that they will accept so you may have certain sales that are not funded by your primary provider. You might need a temporary...
- 23 May
Growth Street Another New Selective Invoice Finance Company
There have been a number of new selective invoice finance companies entering the market over the last few years. At Accountex I met another entrant to that marketspace, Growth Street, who have been duly added to our list of IF companies.There is now so much choice within the selective IF market that customer will have difficulty making a choice - and as we see time and time again, its not just...
- 22 May
Selective Single Invoice Finance With Credit Control
We had a meeting with one of our single invoice finance providers the other day and they happened to mention that they often provided credit control for the client, free of charge. What a great benefit! You are only paying for the funding but you are getting a collections support service for free - not all selective services are created equal....
- 18 May
Funding Hotel Bills To Corporate Debtors
Many are not aware that some of our funding partners are happy to fund #hotel bills to corporate customers. This can be helpful with the cash flow of a hotel as often they will have to wait for their corporate accounts to settle their corporate accounts so they get paid for all the bills that their staff have run up. The funding will bridge that gap....
- 12 May
There Is Not One
Who is the "Best Invoice Finance Company?". When we have meetings with funders they always ask "who do you give all your business too?", the answer is that we do business with a broad range of different industry providers as no one has the perfect solution for every client.This was further evidenced recently with two situations. One company was using one of the industry's leading products, a...
- 06 May
Price Of Selective Invoice Finance
If you want to know the price of selective invoice finance we now have a real example, from an actual deal on our website. More examples will follow: Selective Pricing...
- 25 Apr
April 2016 FundingVoice Now Online
The April 2016 edition of FundingVoice magazine is now online: FundingVoice April 2016...
- 14 Apr
Direct Access To Invoice Finance Companies
One of the aims of our FundingVoice magazine is to give customers direct access to invoice finance companies. Therefore we have developed a system of direct contact links whereby either an application form or a contact request can be directly routed to a particular provider via our system. We are continually developing our list of invoice finance companies and we are developing the list so that...
- 09 Apr
6 Ways Cash Flow Problems Can Be An SME's Silent Assassin By Julian Hornby Of GapCap
By Julian Hornby of GapCapHowever successful, innovative or budding a business may appear, poor cash flow management can bring about their downfall. This is illustrated by the Office for National (ONS) statistics, only 45% of startups reach their 5th birthday. Whilst eventually a business will enter into insolvency if cash flow struggles overwhelm them, there are many unexpected side effects...
- 17 Mar
100% Funding Against Invoice Value For Life - Limited Time Offer
One of the offers on our site, 100% funding levels against invoices (less fees) for life may be about to be withdrawn so contact us quickly if you want to take advantage. You can see the full details here: 100% Funding For Life or give Sean a call on: 03330 113622.Hurry, it could be withdrawn at any time....
- 14 Feb
Selective Invoice Finance Deal Completed
Good to see a true selective invoice finance deal just recently completed by FundInvoice. The client may just finance the one transaction (or they may choose to reuse the selective facility again). However it demonstrates that you don't have to be locked into long term contracts to get the benefits of invoice finance. In this case its being used for a one off transaction, under an open ended...
- 20 Jan
First Invoice Finance Deal Of 2016
Our first invoice finance deal of 2016 is on the book. Additional funding was required due to restrictions on the prime debtor. Let's hope it's the first of many this year....
- 07 Jan
Help Paying VAT Bill
I am just working on our quarterly figures for the VAT return - my least favourite job! However, we always put aside the VAT money so that we have it there to pay HMRC on time. Many businesses don't reserve for their VAT bills, and this can lead to problems paying HMRC. Just a quick reminder that if you have outstanding sales invoices, on credit terms, to other businesses, you can raise funding...
- 06 Jan
Invoice Finance Technology Advances
We have just had an interesting discussion with one of our invoice finance companies that is about to launch an innovative new piece of technology to support their invoice finance product offerings. We will share some details in due course, but its great to see one of our partners seeking to set the pace for the rest of the industry with some product innovation - and its always nice to be asked...
- 31 Dec
New Year, New Growth Aspirations - Need Funding?
It's 2016 - Happy New Year!If you have growth aspirations for the new year then invoice finance could give you the funding to realise those ambitions. Its ideally suited to fast growing businesses as the amount of funding is not limited by asset levels. Instead, the level of finance grows with your turnover - more invoices equals more cash becoming available.If we can help you achieve your growth...
- 26 Dec
New Recruitment, Laundry & Web Advertising Deals
We have been lucky enough to see a number of new customers come onto the book at the end of this year, within a couple of interesting sectors.As is often the case, recruitment businesses are often our "bread and butter" and we have seen a number of them taking up facilities over the last few months. There are many variations in the type of recruitment that they handle e.g. medical, education...
- 22 Dec
FundingVoice Magazine - December 2015 - 100% Invoice Finance Funding For Life
Read the latest version of the magazine here: FundingVoice Magazine - December 2015 - 100% Invoice Finance Funding For Life....
- 27 Nov
3rd #TalkIF Debate Discussed Growth And Overtrading
The 3rd #TalkIF debate, hosted by RBS Invoice Finance, took place earlier today and focused on business growth. The debate covered whether or not a business should seek to grow in all circumstances and also covered the issue of overtrading. This occurs when a business is growing its turnover faster than it can really handle. This can cause stresses within the organisational structure and with...
- 19 Nov
Day 2 Of The #TalkIF RBS Invoice Finance Live Twitter Discussion About To Start
The second day of the #TalkIF live twitter discussion, hosted by RBS Invoice Finance, is about to start.Its all about how business leaders achieved their business goals.Just tweet with the hash tag #TalkIF...
- 17 Nov
Quote From RBS Invoice Finance #TalkIF Write Up
A quote from the #TalkIF Twitter debate write up, by RBS Invoice Finance, available on their blog: "ABFA, invoice finance expert Glenn Blackman (@GlennBlackman) and RBSIF?s Mark Dodwell (@MDodwellRBSIF) all agreed that the perception of invoice finance was improving thanks to better customer relationships and a keener business focus".There is a link to the full blog post on my Twitter feed where...
- 12 Nov
#TalkIF RBS Invoice Finance Discussions
Looking forward to seeing how the #TalkIF discussions, chaired by RBS Invoice Finance go on Twitter over the next few weeks. Hopefully it will get some engagement from outside the invoice finance arena, as well as from within.You can join the debates, over the next 4 weeks - (starting today 12th November noon - 1pm. Then the same time each week) by tweeting with the hashtag #TalkIF....
- 09 Nov
How Long Does It Take To Get Invoice Finance?
You may be wondering how long it takes to get invoice finance, but the time required is normally very much driven by you, the client.If necessary, the whole process of getting invoice finance can be arranged within a few days. However, the speed of the process tends to be dictated by our client.We have just had an example of a business for who we arranged invoice finance and they have taken...
- 05 Nov
Invoice Finance
Invoice finance a comprehensive archive of market research and information about invoice finance companies....
- 03 Nov
Everything You Need To Know About Invoice Finance All In One Place
A new article: Everything You Need To Know About Invoice Finance All In One Place.Literally, everything you need to know all pulled together into one directory page....
- 16 Oct
FundInvoice Saved A Client 4K Of Invoice Finance Costs
FundInvoice have just saved a client circa £4,000 of invoice finance costs, per annum, by conducting a market search for quotes. More details of this case will follow shortly. On average we have been able to save 4 out of 5 companies money on factoring and invoice discounting quotes received from elsewhere. The average saving achieved was 35%.Updated average cost savings is now 31% over the year...
- 04 Oct
Need Help Paying My VAT Bill?
Need help paying my VAT bill? If you are looking for a way of raising the money to pay your quarterly VAT bill we can help. Invoice finance can release the cash that is tied up in unpaid sales invoices that you can use for any purpose, including payment of your quarterly VAT bill....
- 09 Sep
FundInvoice | First "Golden Hello" Quote Is For £4,000 To Be Paid In Advance
Our first quote under the "Golden Hello" offer was for a saving of £4,000 to be paid in advance to our client! Brilliant news: FundInvoice | First "Golden Hello" Quote Is For £4,000 To Be Paid In Advance.The offer applies to savings of up to £10,000. See the above news page for details and full terms....
- 07 Sep
New Startups - What To Do If You Are Declined For An Overdraft Or Bank Loan
Everything you need to know about alternative finance, how to finance a new startup business with invoice finance when you have have been declined for a bank overdraft or bank loan: How To Finance A New Startup Business With Invoice Finance....
- 06 Sep
'Alternative Finance' - Positive Handle Or Ball And Chain?
This article was published about the use of the term "alternative finance" and the pros and cons of using it to label products such as crowd funding, peer to peer lending and invoice finance: 'Alternative Finance' - positive handle or ball and chain?.This was my comment:"I think its difficult to choose! On the one hand the tag "alternative finance" clearly identifies the sector as something apart...
- 05 Sep
Need Help Finding Invoice Finance Companies That Deal With RPO's Such As De Poel?
RPO problems? If you need help finding invoice finance companies that can deal with RPOs (Recruitment Process Outsourcing organisations), such as De Poel, FundInvoice can help: Invoice Finance Companies That Deal With RPO's, "Pay As Paid" Invoices & De Poel....
- 02 Sep
How To Get Your Customers To Finance Your New Business Start-up
Great article about how you can get your customer to finance your business start-up. Ideas such as advance payments or subscription based models: How to get your customers to finance your new business start-up | ByteStart.You can also use invoice finance to leverage your customers outstanding credit invoices. An invoice finance company will give you maybe 85% of the invoice value up front and you...
- 28 Aug
Beyond P2P - The next wave of innovation in business finance
Interesting article, about the next wave of innovation in the Peer to Peer lending arena, mentioning MarketInvoice: Funding Xchange: Beyond P2P - The next wave of innovation in business finance.My comment was as follows: "Delivering the "best available quotes" is definitely key, our extensive market research programme suggests that pricing is an important driver. The other issue though is...
- 09 Jul
Invoice Trading By MarketInvoice - New Article
Invoice Trading article which was kindly contributed to FundingVoice magazine by MarketInvoice: Invoice Trading By MarketInvoice.The article includes:...
- 24 Jun
Another 5 Star Review From An Invoice Finance Client
Another 5 star customer rating and review received from an invoice finance client of FundInvoice LLP who said:"I would rate your service 5 out of 5! After spending months trying to find the correct solution for my business, within a few days of speaking with Sean I was introduced to a company that offered me exactly what I need and at the right price, I wouldn't hesitate to recommend him".It goes...
- 17 Jun
How Green is Your Invoice Finance?
How green is your invoice finance deal? There are options that reduce the carbon footprint, by virtually eliminating paper, and hence reduce your environmental footprint: How Green is Your Invoice Finance?....
- 14 Jun
Single Fees At A Premium
Often invoice finance users are attracted to the idea of a single, predictable, flat fee (or fixed fee) rather than separate service charge and discount fees.However, in some cases single fee arrangements are charged at a premium to the regular charging structure.If the single fee arrangement is going to be charged at a premium, the client needs to think carefully about the benefits of taking...
- 31 May
35% Invoice Finance Cost Saving?
We have checked the average cost saving we have found for clients and prospects, looking to cut costs, over the last year. On average we could find a saving for 4 out of 5 prospects. The average saving found was 35% of the projected invoice finance costs (estimated service charge and discount charge, combined).If you want to save on your invoice finance costs challenge FundInvoice to Beat My...
- 11 May
Formula 1 Grand Prix Article
Sean Morrow has written an article explaining the formula 1, grand prix analogy that can be applied to sales and invoice finance companies within our market. Hopefully it will resonate with any readers that are racing fans: Schumacher Ferrari, Hamilton Mercedes Sales Analogy...
- 10 May
Unfair Invoice Finance Contract
One of our finance partners has introduced an innovative approach to their invoice finance contract periods. They are offering their customers a 28 day notice period to terminate the facility (a few providers no offer this) but at the same time committing to a 12 month contract with their client. This gives their customers the best of both worlds. The freedom and flexibility of knowing that they...
- 16 Apr
Quotes From More Existing Invoice Finance Users
Here are some more actual quotes from invoice finance users about why more businesses aren't getting the benefit of factoring and invoice discounting:Read the full set of actual quotes here: Quotes from factoring and invoice discounting users...
- 09 Apr
What Invoice Finance Users Think About Invoice Finance
This is another quote from our recent survey of existing invoice finance users. People considering using factoring or invoice discounting want to know what existing users think about invoice finance. Therefore, we asked them why they thought so few businesses use invoice finance in the UK. This is what one existing user of the products told us:"Not enough out there about it, never heard of it...
- 20 Mar
Finalists
OK, no gong but pleased to be finalists in the Business MoneyFacts Awards 2015??...
- 18 Mar
FundingVoice Magazine Next Edition
The next edition of FundingVoice magazine is about to be sent out. If you want to subscribe, its free, just go here: Subscribe Free To FundingVoice Magazine...
- 08 Mar
Invoice Finance At The Weekend Even On A Sunday
We have had an invoice finance enquiry over the weekend, received on a Sunday. Not a day of rest for us, as the prospect has been called back as requested.We don't stick to normal opening hours, lots of business owners don't get any free time in the week to deal with things like finance, so we will do our best to help you whenever you contact us!...
- 04 Dec
Invoice Finance Against Invoices To Argos
Argos was always synonymous with Christmas for us as children, our Christmas lists were pretty much a list of Argos reference numbers! Hence this is going to be a busy time for any businesses that are supplying Argos.If you are a supplier to Argos, looking to release the money that is tied up in outstanding sales invoices, FundInvoice can help. We have been contacted by funding partners that are...
- 06 Nov
Business MoneyFacts Asset Based Finance Broker Of The Year Application Submitted
I have just finished submitting our application to Business MoneyFacts for FundInvoice to be considered for the award of Asset Based Broker Of The Year 2015.Fingers crossed!...
- 18 Oct
Funding Above Credit Limits
A meeting the other day with an invoice finance company reminded me that a common issue for some clients is only being able to receive funding against invoices up to the credit limit on a particular debtor's account. Not all invoice finance companies work this way. There are alternative providers that will allow approvables funding above the credit limit on particular debtors....
- 30 Sep
Hitachi Capital Invoice Finance Letter Of Recommendation
It's always difficult to know who to trust when you deal with businesses through the web. FundInvoice wanted to make sure that potential customers had the ability to verify their credentials so that they know we are a bone fide organisation that have successfully helped customers that need invoice finance.To help build the trust of potential customers we have added a series of letters of...
- 09 Sep
Invoice Finance Without Being A Homeowner
Again we have been discussing another prospective invoice finance client that is not a homeowner. Several invoice finance companies now insist on client company directors being homeowners. Thankfully we have factors on our panel that do not insist in this. The whole approach to this is hard to understand. The key security should be the company's book debts, personal guarantee should only be seen...
- 04 Sep
Deed Of Priority For Chargeholders
Factoring and invoice discounting often work well when combined with other forms of lending. Often an invoice financier will seek to take a charge or debenture over their client's business in order to secure the book debts as their security. This can interfere with other lenders who also require a charge or debenture to secure their own forms of lending. In such situations a "deed of priority" is...
- 17 Aug
Need More Working Capital Than Your Invoice Finance Can Provide?
Not all invoice finance companies are created equal! If you need more working capital than your current provider is prepared to provide there may be other alternative lenders that can provide more. There are no universal rules or risk policies that apply to the funding levels that are provided by all factoring companies or invoice discounting companies. In fact, there are significant differences...
- 26 Jul
What Is A Recourse Period?
A "recourse period" is the time after which an invoice finance company will withdraw funding against an invoice if it has not been paid. This is only the case with a recourse style invoice finance facility. There are other options available. The alternative is a non-recourse, where you also receive protection against bad debts. In this case, there is no recourse period, the funding against an...
- 01 Jul
Benefits Of Supply Chain Finance
The principle benefit of arranging a supply chain finance facility for all your suppliers is that it enables your business to take a credit period from your suppliers, whilst they all get prepayments, from the supply chain finance company against their invoices. The finance is provided at preferential rates to your suppliers based on the strength of your business....
- 29 Jun
Supply Chain Finance
FundInvoice can also help large organisations, such as supermarkets, with numerous suppliers, find supply chain finance and reverse factoring. This is where invoice finance facilities are offered to a large organisation's suppliers in order to allow them access to funding at preferential rates on the strength of the large organisation. This type of supplier finance arrangement can improve the...
- 26 Jun
Invoice Finance For Non-Homeowners
There has been a rise in the number of invoice finance companies refusing to finance businesses where the directors are not homeowners. We have just come across such a lead and fortunately there are alternative invoice finance companies that do not require borrowers to be homeowners. If you are not a home owner and you want an invoice finance facility speak to Sean on: 03330 113622...
- 25 Jun
Factoring Recruitment RPOs
Recruitment businesses have always been prime candidates to use factoring. However, in recent times there has been a rise in the number of recruitment deals that involve RPOs. These are large recruitment purchasing organisations that then outsource the supply of temporary recruitment staff to smaller organisations. One issue that the involvement of RPOs can cause is the creation of problems for...
- 24 Jun
Zero Effort Invoice Finance Cost Savings
Do you want to save money on your invoice finance costs but don't have time to look around the market for quotes? FundInvoice offer a service that won't take you more than a few minutes to use. All they need are a few details of your current facility costs, the percentage that you want to save on those costs and they will do the rest for you - and they won't charge you to use their service. Call...
- 23 Jun
Factoring Insurance Company Invoices For Car Crash Repairs
The benefit of factoring car crash invoices raised to insurance companies is that it provides a very secure invoice for the factoring company as they are confirmed as payable by the car insurance company that are liable for the repair. This means that a car body shop can potentially access up to 100% (less charges) funding against those invoices. Hence bodyshop factoring can be an ideal way of...
- 03 Jun
Cheap Invoice Finance For Sub 100K Turnover Businesses
Cheap invoice finance for sub £100K turnover businesses is being offered by one of our funding partners. This links neatly with my comments about how a certain crowdfunder was receiving a lot of comments about how there were not funding options available to sub 100K turnover businesses.Our funding partner is offering a service fee starting from £199 (+ VAT where applicable) per month to...
- 29 May
New Article - Online Invoice Finance Quotations
New article on the site about Online Invoice Finance Quotations.Worth a read before you apply for an online quote as it covers some of the pitfalls that we have come across over the years such as quotes changing, choice overload and customers focusing only on price rather that the other service considerations that they often tend to come across once they have signed up....
- 20 May
Invoice Finance Without Personal Guarantees
Personal guarantees are often an aspect of financing that customers are unhappy with. Many invoice finance companies offer limited guarantees or even warranties rather than giving a PG and you can also get insurance for the risk associated with giving a personal guarantee - however there are some invoice finance companies who will offer facilities without requiring a personal guarantee.You should...
- 02 May
Need Help Paying VAT Tax To HMRC?
We have just paid our most recent VAT (Value Added Tax) bill to HMRC - its always painful! Keeping your value added tax up to date requires a business to keep the money it collects from sales VAT (after offsetting any deductible purchase tax) separate, and if you have dipped into that money for cash flow purposes you can end up with serious problems paying your next bill - especially as its often...
- 25 Apr
Crowdfunding, Small Businesses And Alternative Finance
I have been receiving online adverts from a certain well known crowdfunding platform via social media - they seem straightforward enough, funding for businesses with annual turnover of at least £100K using a proportion of a government investment via their platform. Out of interest I have been watching the comments the general public have posted on their advert and some are quite amazing.1)...
- 25 Mar
Asset Based Lending - Full utilisation of all a company's assets
I come across numerous SME companies who have either overdrafts and/or Invoice Finance facilities yet they are still looking for additional working capital to assist in growth or up coming projects. When speaking to them it becomes clear that in some cases they have company assets that are not being fully used or valued by their existing providers. Asset Based Lending (ABL) provides just such a...
- 20 Mar
New Article From Hitachi Capital Invoice Finance - Inspired Cashflow
Ready for the launch of our magazine, FundingVoice, Hitachi Capital Invoice Finance were kind enough to contribute an article about their new Inspired Cashflow product. You can read their article here:Hitachi Capital Proves There Is Still Room For Innovation Within The Business Finance Sector With The Launch Of Their New Inspired Cashflow ProductIf you would like to subscribe to FundingVoice...
- 17 Mar
What To Do If Your Bank Overdraft Is Removed Or Reduced
Article about what to do if the bank remove or reduce your overdraft. Don't panic! Alternative sources of finance are available: What To Do If Your Bank Overdraft Is Removed Or Reduced...
- 14 Mar
2.14 Invoice Finance Companies Used On Average
Our market research survey of 100 existing invoice finance users found that on average they had used 2.14 different invoice finance companies during their life as a client. We found that the fewest number of providers used by our sample was 2 and the highest reported was 4. Only 11% of our sample had used more than 2 providers making 2 the norm.I reported previously that the average usage of...
- 27 Feb
Have you been turned down for invoice finance as you are not a home owner?
We have recently seen a slightly concerning rise in the number of invoice finance, factoring and invoice discounting companies that are asking for clients to be home owners in order to receive funding from invoice finance. It would be understandable if a client was required to be a homeowner if the credit were particularly risky and the finance company were looking to this kind of additional...
- 03 Feb
Retailer Finance
There are a few finance companies that will fund retailers based on their historic or future takings. Retailer finance can include shops and businesses such as restaurants. In some cases the funding can be recovered from a percentage of future takings via the retailer's credit card machine....
- 06 Nov
How Does Invoice Finance Work? Infographic
Its always difficult to boil down invoice finance into something simple that people can understand. So to answer the question "How Does Invoice Finance Work?" we have produced a simple infographic which shows the process at an overview level.You can view it here: Infographic - How Does Invoice Finance Work?...
- 02 Nov
Free Business Finance Information Pack Available From FundInvoice
FundInvoice have a new free, business finance information pack, in PDF format which is now available to download: Free Business Finance Information Pack...
- 13 Sep
FundInvoice LLP Launched - New, Free Invoice Finance, Factoring & Invoice Finance Quotation Search Service
I have launched FundInvoice LLP, a new invoice finance brokerage, with my business partner Sean Morrow.FundInvoice will offer a free, independent quotation search service for invoice finance, factoring, invoice discounting, trade finance and asset finance offering a completely personal service.An exciting new project to get off the ground, the website is under construction but should be up and...
- 29 Aug
Deal Completed - Invoice Finance Costs Reduced By £350 Per Month
This is an example of the cost savings that can be achieved by moving between invoice finance companies.We were able to assist a client of a bank owned invoice finance company that were looking to save some money on their invoice finance costs.We found them a deal which will reduce their invoice finance costs by £350 each month, a saving equivalent to £4,200 per year, a good saving in the cost...
- 18 Aug
Deal Completed - Alternative Invoice Finance For A Larger Business
We have recently been able to help a larger business, turning over £8 million per annum, find an alternative invoice finance facility in order to deliver a cheaper facility that would also provide them with more funding than their existing facility. We were able to put them in contact with an independent invoice finance company that are owned and backed by a major banking organisation. This...
- 31 Jul
Breakdown Of Funding Sources Used By High Growth Businesses
In our recent survey of 100 fast growth businesses (20% or more pa) we asked the respondents to tell us which sources of funding they used. Some respondents used multiple sources of funding and in this set of results each source of funding used was recorded.Below is a breakdown of the funding sources used by a sample of randomly selected high growth businesses:Â ...
- 19 Jul
Deal Completed - Invoice Finance For A Packaging Company Growth
A small packaging company were recently found an invoice finance facility.The company wanted the invoice finance facility to support the future growth of their packaging business.Packaging is a straightforward sector for invoice finance companies to support. The simple nature of the product makes it highly suitable for financing.Invoice finance will support their future growth by releasing a...
- 18 Jul
New Business
New Business covers the industry roundtable discussion that I attended regarding alternative finance: Alternative Finance Roundtable...
- 15 Jul
Deal Completed - Invoice Finance To Fund Growth Beyond Overdraft Restrictions
This recent invoice finance deal completed was a cleaning solutions company that were looking for growth finance but their bank overdraft was restrictive and their bank were unwilling to increase their overdraft any further.We conducted a free, independent invoice finance quotation search for them and found them an invoice finance deal with an independent invoice finance provider that are part of...
- 02 May
Reducing Your Invoice Finance, Factoring Or Invoice Discounting Costs
A while back I published an article 6 Ways To Reduce Your Factoring Or Invoice Discounting Costs.I was looking through it just now and it rightly suggests that if you have a whole-turnover invoice finance agreement i.e. all your invoices are factored or discounted, and you don't have a constant need for funding in your business, you could save costs by switching to a selective style agreement....
- 19 Apr
What Are The Minimum Turnover Size Criteria For Invoice Finance?
Prospective clients often as us "What are the minimum turnover size criteria for invoice finance (factoring & invoice discounting)?". Unfortunately, the true answer seems to be widely misunderstood by small companies and small businesses, there really isn't a minimum turnover. We have recently spoken to a small business who were turning over £60,000 pa and they thought that they were too small...
- 18 Apr
Separating Your Invoice Finance From Your Overdraft Or Bank Loan
We have previously mentioned the consideration some clients have for not putting "all their eggs in one basket" by separating their invoice finance facility provider from their bank who provide an overdraft or term loan, for example in my article about How To Choose A Factoring Company.However, we have had an example of a prospective client that has experienced how this issue can damage the cash...
- 17 Apr
Deal Completed - Invoice Finance For New Start Carrier Business Overdraft Not Available
Another case study, this time for a small new start carrier business based in Yorkshire. This was a classic case of a new-start business that needed working capital but had been unable to secure the funding through their bank via an overdraft or loan. This is quite typical of a new start business as they often do not have the assets, trading history and hence financial accounts that a bank needs...
- 13 Apr
Invoice Finance For Payments Via Direct Debit & Credit Cards
A customer that we were working with recently reminded me that some invoice finance companies are now able to collect debtor payments via direct debit and credit cards from business customers. This facility is not widely available but in recent years the number of invoice finance companies that are able to cope with payments received via direct debit mandates or credit card payments has...
- 07 Apr
The Perfect Invoice Finance Product
Below is the profile of the perfect invoice finance product (from the customer's perspective) based on our experience and market research:1) Overdraft style finance product that grows with turnover (with invoice finance risk controls behind the scenes) - clients just want predictable levels of funding without any hassle and they want the funding to grow in line with increases in their sales. They...
- 04 Apr
Find Funding Or Finance For A Large Business, Large Company Or PLC
If you are a large business or large company we can help you find large amounts of finance or funding and we are aware that you will need that funding to be provided at fine rates that reflect the size of your business.We have dealt with businesses turning over up to £250 million per annum and all points in between. Our business finance quotation search service is still free even for large...
- 03 Apr
Invoice Finance Free Newsletter Available
Our latest free invoice finance newsletter is now available.This month we have alternatives if your overdraft is removed or reduced and case studies about cost saving achieved for clients....
- 07 Mar
New Article - What To Do If Your Bank Overdraft Is Removed Or Reduced
I have just published a new article on the site - WHAT TO DO IF YOUR OVERDRAFT IS REMOVED OR YOUR OVERDRAFT IS REDUCED.It explains how invoice finance can be an alternative to replace or supplement a bank overdraft....
- 26 Oct
Construction Sector Finance Research - Applications For Payment
We have recently conducted some research into the construction sector and its finance requirements which I am going to publish.Traditionally invoice finance companies didn't get involved with funding the construction sector but that has all changed. There are now a number of options for construction sector businesses where invoice finance companies have developed specialist funding services for...
- 10 Sep
How To Overcome Invoice Finance Funding Restrictions
We have been dealing with a prospect who has invoice finance from a provider that has imposed some heavy funding restrictions.The existing invoice finance company were only funding at a low percentage but they had also set their client a completely unrealistic target for debtor days with a reduction of 1% in their funding percentage for every day by which they exceeded the target! This had caused...
- 21 Jul
Business Development Manager Training Gap In Invoice Finance
Building on the recent theme of why the factoring industry isn't selling more invoice finance to new clients, I recently had an interesting discussion with a recruitment consultant that specialises in the commercial finance industry and has numerous vacant roles on his books for BDMs (Business Development Managers) the term used for sales people within the factoring industry.The recruitment...
