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• 18 Jun

  

  

  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...

  By Glenn Blackman
• 15 Jun

  

  

  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...

  By Glenn Blackman
• 14 Jun

  

  

  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...

  By Glenn Blackman
• 13 Jun

  

  

  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...

  By Glenn Blackman
• 09 Jun

  

  

  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...

  By Glenn Blackman
• 08 Jun

  

  

  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...

  By Glenn Blackman
• 04 Jun

  

  

  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...

  By Glenn Blackman
• 01 Jun

  

  

  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...

  By Glenn Blackman
• 31 May

  

  

  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...

  By Glenn Blackman
• 30 May

  

  

  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...

  By Glenn Blackman
• 29 May

  

  

  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...

  By Glenn Blackman
• 25 May

  

  

  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...

  By Glenn Blackman
• 24 May

  

  

  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....

  By Glenn Blackman
• 23 May

  

  

  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...

  By Glenn Blackman
• 22 May

  

  

  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...

  By Glenn Blackman
• 21 May

  

  

  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...

  By Glenn Blackman
• 18 May

  

  

  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...

  By Glenn Blackman
• 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...

  By Glenn Blackman
• 15 May

  

  

  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...

  By Glenn Blackman
• 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...

  By Glenn Blackman