- 27 Nov
Clients Returning So We Must Be Doing Something Right
We hope that our clients will stay with us indefinitely, however occasionally a client will choose to leave the invoice finance company that we introduce them to, in favour of an alternative. However, that is not always the end of the story. Like boomerangs, sometimes they come back!GET A FREE INVOICE FINANCE QUOTEI was pleased to see a recent example of a client recontacting FundInvoice, after...
- 11 Oct
4M Of False Invoices Lands David Marsden A 10 Year Ban
A Government press release dated 8th October 2018 confirms that David Andrew Marsden (62 from Exeter) has provided a 10 year directors disqualification undertaking, that has been accepted by the Secretary of State.The undertaking is effective from 9th October 2018, and prohibits the individual from holding any Directorships. David Marsden was formerly the boss of First Capital Factors, the...
- 21 May
Working Capital Partners Go Into Administration
Working Capital Partners (WCP), the selective invoice finance and trade finance company, have gone into Administration. This appears to be as a result of a recent client fraud. Sad news about a long established firm, that first entered the market back in 2010.If you need alternative funding please contact Sean for help on: 03330 113622.Client fraud is one of the biggest challenges facing...
- 27 Aug
Updated Info Pack From FundInvoice
We have just updated our info pack, which is our version of a brochure outlining our services. Its in a PDF format and it details the business funding and invoice finance quote search and advice service that we offer at FundInvoice.You can download a copy of our brochure/info pack here: FundInvoice Info PackIt includes:If you would rather just speak to someone about what you need please call...
- 04 Sep
What Is Impacting The Factoring Industry
I recently received a kind invitation to moderate the SME Insights panel at the Alternatives & Receivables Finance Forum in London. I noticed that one of the organisers recently posted a question on social media, "What is impacting the factoring industry?". So I have set out my views on this question, below.The first clarification is to confirm that "factoring" is being used as a term to describe...
- 24 Aug
Invoice Finance Practices To Watch Out For
Whilst having a meeting with one of our funding partners, we started discussing practices that can mislead customers, that we have come across around the invoice finance industry. I thought it might be helpful to put up a list of these practices so that customers can watch out for them.I have posted before about the research we have conducted into the setting of minimum fees. Most of the whole...
- 12 Dec
FundInvoice Are Business Moneyfacts Awards Finalists 2019
We are delighted to announce that FundInvoice LLP have been confirmed as "Finalists" for "Best Invoice Finance Broker" in the 2019 Business Moneyfacts awards! This is the 5th year running that we have been confirmed as finalists for an award.We really need a testimonial from you so that we can win this award - if you are a customer, a prospect, a funder that we work with, or a reader of our blog...
- 01 Oct
Explaining Invoice Discounting And Factoring Charges
I wanted to share this really good example of how someone not familiar with invoice discounting and factoring quotations can end up misinterpreting the quotes, when they try to make a comparison - ending up "comparing apples with oranges".GET A FUNDING QUOTEIn this particular case the prospect had two quotes, one from a provider we had found for them (the cheaper quote) and one they had sourced...
- 01 Feb
January 2019 FundingVoice Magazine Is Online
The January 2019 edition of FundingVoice magazine is now available online.READ THIS AND OTHER BACK ISSUESThe first edition of 2019 has several articles more than normal - we always have so many different stories its hard to select just a handful.This time its a mixture of rumours and news from some well known invoice finance companies and some specific help for manufacturers and construction...
- 11 Feb
Sancus Finance Supply Chain Finance To Shutdown
Reports from StockMarketWire and Morningstar suggest that GLI Finance have taken the decision to shutdown their Supply Chain Finance division, Sancus Finance Ltd, as performance fell short of expectations, with a forecast operating loss of £1M.Performance was apparently impacted by a £1.1M exposure to a supply chain finance borrower, which recently went into Administration. The group prudently...
- 18 Sep
Bio For Glenn Blackman
I was recently asked for a short Bio to be used by the publishers that have asked me to help moderate one of the panels at the Alternative and Receivables Finance Forum. The bio is below in case others need it in the future.Glenn Blackman MBA is the Editor of FundingVoice magazine, a free monthly e-publication for SMEs, about business funding and business growth. He is a founding partner in...
- 29 Aug
Free Business Startup Guide
This is a free business startup guide that gives general advice about starting your own business. It's not comprehensive, and professional advice should always be sought from an accountant and/or solicitor.This guide takes you through a number of areas that you need to think about if you are starting your own business. It is based on our own experience of launching our own venture.GET BUSINESS...
- 24 Sep
Another 100% Invoice Funding Option
We have added another 100% invoice funding provider to our panel of invoice finance companies. This provider will provide 100% funding to a wide variety of industry sectors, but they are also willing to fund in the construction sector, and they have Scottish agreements to handle Scottish companies (which many others can't).I can't think of any other providers that are prepared to fund...
- 05 Nov
Invoice Discounting Service Charge Average Percentage
Invoice discounting service charge is often the term people use when referring to the "administration charge" made for invoice discounting services. It is the percentage of your turnover that you pay the funder to use the service.GET A QUOTE WITHOUT OBLIGATION (and no impact on your credit score).Read about how the costs are made up and what typical costs will be.To compare the fees between...
- 19 Aug
Invoice Finance Or Factoring With No Minimum Criteria
In the past, there were minimum size criteria applied to businesses that were seeking invoice finance or factoring. Different providers would set the minimum size criterion at different levels, but used to reflect a fairly substantial volume of turnover, in order to make a facility viable.This practice is no longer the norm in all cases, with the emergence of selective invoice finance. A...
- 25 Sep
Budget For Your Invoice Finance Charges
We had an enquiry recently for funding for a small recruitment startup that was expecting to turnover a few hundred thousand pounds sterling. We provided them with a quote for factoring, prepayments against invoices and a credit control outsourcing service.The quote we initially found was for an all inclusive fee of £3,800 + VAT per annum. Which is reasonable for a whole turnover facility that...
- 09 Oct
How To Set Up Your Business Startup
The first thing to say is that you will likely need the help of an accountant, and perhaps a solicitor to help with setting up your business. This article gives some general information based on our own experience, but your situation may vary.As I mentioned in the first part of this business startup guide, the key to a successful venture is having a product or service that is in sufficient...
- 10 Sep
100% Funding Against Invoices
100% invoice finance funding levels are now available to a variety of industry sectors.One of our funding partners deals with funding car body repair invoices to insurance companies, and they fund those invoices at 100% less a flat fee percentage for using their service (the fee is just a few percentage points of the invoice value). The debt is bad debt protected, so there is no recourse to our...
- 28 Aug
Partnership Invoice Finance Joins UK Finance
Partnership Invoice Finance have recently joined UK Finance, the trade association for the finance and banking industry. Great news for customers as this means that members agree to abide by a code of conduct that provides peace of mind to customers of members.Partnership Invoice Finance are an independent invoice finance company that are focused on delivering a high quality, flexible personal...
- 15 Nov
Telephone Debt Verification Removed From Take On Process
An interesting development from one of the invoice finance companies, who must remain anonymous for what will become obvious reasons.They have decided to remove the telephone debt verification procedure from their take on process, for new customers.Telephone debt verification is the process by which the invoice finance company will contact customers from the clients sales ledger, in order to...
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