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• 23 Oct

  

  

  New Asset Based Lending Funding Company

  One of the most important features of the business finance search service that we offer is that we are continually adding new funding companies to our panel of funding partners. There are almost 100 different invoice finance companies operating in the UK at present.We do this to make sure that we can provide not only the cheapest invoice finance prices, but also the most flexible funding options...

  By Glenn Blackman
• 22 Oct

  

  

  Recruitment Outsourcing Without Issues

  I posted the other day about the issues that can be associated with some of the recruitment outsourcing companies who also provide funding. Interestingly, we have just had a conversation with a new outsourcing invoice finance company that are able to provide the full range of services from funding, to payroll management to accountBig services.Being able to access this kind of package of services...

  By Glenn Blackman
• 19 Oct

  

  

  Recruitment Acquisition Finance

  We are looking at a prospect that is seeking recruitment acquisition finance for a business that they are seeking to purchase. I highlight this as a reminder of how invoice finance can be used to fund company acquisitions.In this case it is a recruitment sector company, however the same approach can be applied to any sector.There are two possible ways in which you can structure this type of...

  By Glenn Blackman
• 18 Oct

  

  

  Invoice Finance Is Not An Alternative To Having A Viable Business

  I spotted a recent article published by TheBusinessDesk.com regarding the financial woes of a direct mail business called SDM. The business has apparently failed, despite having a 100% prepayment from an invoice finance facility. The article reminded me of how vital it is to have an underlying business that is viable, for invoice finance to help.In this particular case, the article alleges that...

  By Glenn Blackman
• 17 Oct

  

  

  Close Brothers Invoice Finance

  Voting has recently opened for the Business Moneyfacts Awards 2019. Close Brothers Invoice Finance, part of the FTSE 250 Close Brothers merchant bank, have been the winners of the award for the Best Factoring & invoice Discounting provider, for the last 5 consecutive years. In addition they have recently won Asset Based Lender of the Year 2018 at the Insider - Dealmakers Awards. Quite an...

  By Glenn Blackman
• 16 Oct

  

  

  Prepayments Against Invoices To NHS Trusts

  I saw an article about slow and late payments from NHS Trusts in HSJ online magazine (27/09/18). The article alleges that according to data obtained under a freedom of information request, 44 out of 135 acute trusts paid less than half of their invoices on time during a period between 2017 - 2018.These slow payments may be causing a significant cash flow problem for non NHS suppliers to NHS...

  By Glenn Blackman
• 15 Oct

  

  

  Credit Control For A Small Construction Estimating Business

  We have just completed a credit control only facility for an estimating business that handles:DISCUSS A CREDIT CONTROL QUOTEThis firm of estimators were originally with a large high street bank, who have an invoice finance arm, but as the bank have withdrawn their debtor protection this client needed to look for a new provider. The facility that they had received from the bank was factoring but...

  By Glenn Blackman
• 12 Oct

  

  

  Business Startup Guide To Funding

  A critical aspect of starting a new business is ensuring that you have sufficient money to trade. This could be to cover the initial startup costs e.g. purchasing equipment, and to cover ongoing costs e.g. staff wages and buying stock.DISCUSS YOUR FUNDING NEEDSA cash flow forecast is an essential part of the business plan for any new start company, it may be produced by your accountant with your...

  By Glenn Blackman
• 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...

  By Glenn Blackman
• 10 Oct

  

  

  Finding Prepayments Against Applications For Payment

  I wanted to find out how difficult it would be for a construction sector company to find prepayment finance against applications for payment.As I have seen previously with other searches, Google delivers quite an unhelpful set of results when one searches for say "construction finance against applications for payment". This might be a typical search term used by a construction sector customer...

  By Glenn Blackman
• 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...

  By Glenn Blackman
• 08 Oct

  

  

  Micro Company Finance

  Micro companies (often defined as having less than 10 employees) are the smallest of ventures, often just starting up. I had a conversation with a new selective invoice finance company that are going to target just micro companies, with a maximum level of funds in use of just £30K.This is not a segment of the invoice finance market that is being addressed by most funders. If anything, we have...

  By Glenn Blackman
• 05 Oct

  

  

  Marketing A Startup Business

  The production of a marketing plan is at the core of any new startup business, it is likely to be a standalone sub-plan within your overall business plan.How you are going to promote and market your products, or services, will determine the volume of sales that you achieve, and most likely the financial success of your business. You don’t have to do the marketing planning and delivery...

  By Glenn Blackman
• 04 Oct

  

  

  Can You Finance This New Startup?

  Are you a lender that could help finance this new startup?CONTACT USWe are trying to raise business finance of £75K (less might still be workable) for a new startup business that is acquiring the licence to operate the business of an existing company (that will no longer trade going forwards).The existing business has operated for several years, and its future trade will be taken over by the new...

  By Glenn Blackman
• 03 Oct

  

  

  How Invoice Finance Broker Commissions Work

  I have been on the subject of pricing misunderstandings for the last few days and another incident worth sharing occurred with a car body repairer that we were speaking to.SEE HOW MUCH WE CAN SAVE YOUCar body shops that invoice insurers for crash repairs are highly suited to factoring, the nature of the papertrail for each transaction means that the funders, though specialist, can offer very high...

  By Glenn Blackman
• 02 Oct

  

  

  Is Bad Debt Protection Included In Your Invoice Finance Quote

  Leading on from my previous post about explaining how to compare invoice finance quotes, and how customers often focus on minor components of the overall cost - rather than those that really make the major difference, I saw an example of confusion over whether or not bad debt protection is included in an invoice finance quote.The answer is that it depends on the provider.Some invoice finance...

  By Glenn Blackman
• 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...

  By Glenn Blackman
• 28 Sep

  

  

  Mike Vince Of MRVince Launches Sales Training For The Invoice Finance Sector

  Mike Vince, who many will recognise as the former Managing Director of Innovation Finance, has launched his own business - MRVince Limited. The business will provide sales training to the Business Development Managers within invoice finance companies. He has been a top performing sales person in his own right, as well as being a great sales team manager and a first class presenter.Mike is...

  By Glenn Blackman
• 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...

  By Glenn Blackman
• 26 Sep

  

  

  Funding Self Insure And Accident Management Company Invoices

  Whilst there are several car crash repair invoice finance companies, that will handle invoices to car insurance companies, not all of them will handle "self insured" invoices, or invoices to accident management companies (third parties that deal with accidents)."Self insure" and accident management company (AMC) claims are also able to be funded, under an invoice finance arrangement, by our...

  By Glenn Blackman