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• 20 Aug

  

  

  Testimonial Following Acqusition Funding.

  Acquisition finance can be difficult to raise, this is a recent example of an acquisition that we were able to assist. We introduced them to an invoice finance company that were able to provide capital to assist with a business that they were acquiring.This is the great testimonial that we received from our client, the businessman that acquired the company.He rated our service 5 stars out of 5,...

  By Glenn Blackman
• 19 Aug

  

  

  What's Happening At Optimum Finance? We Spoke To Richard Pepler, CEO.

  I recently had the opportunity to catch up with Richard Pepler, the CEO of Optimum Finance, to discuss developments within the invoice finance sector, and the record results that their business has achieved recently.CONTACT OPTIMUM FINANCEGlenn: What is the new technology that you have just launched at Optimum Finance? Richard: The biggest product innovation that we have recently developed is an...

  By Glenn Blackman
• 15 Aug

  

  

  Is The UK Facing Another Recession?

  Is the UK approaching another recession? Yesterday evening I saw an article on Sky News suggesting that shares had slumped on bond market signals that had not been seen since the last financial crisis.The article reported that in the US, such inversions have preceded the last 9 recessions dating back to 1955.I also saw this graphic representation (from the BBC) of the link between yield curve...

  By Glenn Blackman
• 13 Aug

  

  

  Pre-Dunning

  Pre-dunning is the practice of contacting a debtor, to confirm that payment is due to be made, before the debt has fallen due. This can form part of your normal credit control process to chase in outstanding debts."Dunning" is the process of communicating with debtors regarding the collections of accounts receivable. "Pre Dunning" is when you communicate prior to the debt having fallen due.Whilst...

  By Glenn Blackman
• 12 Aug

  

  

  Factoring Can Improve Profitability

  Most people may assume that invoice factoring will come at a cost, and hence will reduce your profitability, however the opposite may be true.Using factoring may actually increase your profits and business' profitability. I noticed an interesting post the other day, suggesting that factoring can actually help your company become profitable, so I wanted to set out how that might work.This is...

  By Glenn Blackman
• 09 Aug

  

  

  How To Improve Your Business Cash Flow

  Three simple steps to improve the cash flow of your company are explained in this short explainer video:For further help improving the cash flow of your business, we have some additional resources that will be of interest.Firstly we have an article which explains 10 steps that you can take to increase cash flow.Secondly, if you are looking for a cash injection into your business, please see...

  By Glenn Blackman
• 07 Aug

  

  

  The Little Known Benefits Of Using An Invoice Finance Broker.

  There are some benefits of using an invoice finance broker that SMEs may not fully appreciate. I thought it might be helpful to outline them in a short post.A good invoice finance broker's knowledge of the market will be far more in-depth than any comparison site, or the knowledge that you could gain by searching the Internet yourself.SEE HOW MUCH WE CAN SAVE YOUFor example, whilst certain...

  By Glenn Blackman
• 05 Aug

  

  

  A Simple Explanation Of Asset Based Finance.

  We had a recent meeting with one of our funding partners, that position themselves as an asset based finance company. That means that they are able to fund against a variety of assets, including the book debts of companies.They gave a really simple explanation of asset based finance (sometimes called Asset Based Lending or ABL), which I thought summarised how it works perfectly.An asset finance...

  By Glenn Blackman
• 01 Aug

  

  

  The Price Of Delaying Moving Invoice Finance Companies

  A recent example of a cost saving that we have found for an invoice finance client, demonstrated just how great the cost can be of delaying moving between invoice finance companies. This particular client is currently paying a lot in fees, so the savings are great. However, even average users of receivables finance may be missing out on savings, if they delay moving providers. Every month that...

  By Glenn Blackman
• 31 Jul

  

  

  Funding Both Invoices And Applications For Payment In Construction

  Within the construction sector for both invoices and applications for payment are billing methodologies that are commonly used - hence suppliers can require funding against both.We have conducted research that has suggested that approximately 75% of construction sector businesses use applications for payment, with 25% raising standard credit invoices. It is not necessarily the case that a company...

  By Glenn Blackman
• 30 Jul

  

  

  Example Of Single Debtor Invoice Finance Pricing Selling To GRI

  We have dealt with a number of recruitment companies selling to GRI (formerly De Poel), and this is an example of a recent quote for a single debtor invoice finance deal, that we sourced for a client.REQUEST YOUR QUOTEThe client was turning over c. £500K per annum and only selling to GRI. The quote was for recourse factoring, that means they receive prepayments against invoices (in this case at...

  By Glenn Blackman
• 25 Jul

  

  

  An Example Of Factoring Pricing For A Temporary Staff Agency.

  This is another example of a price that we recently found for a temporary staff agency that were looking for recourse factoring.Factoring will provide them with both advances against their sales invoices, when they raise them, and a credit control service from the factoring company. This is often popular with temporary recruitment companies, as it frees up their time - away from chasing invoices...

  By Glenn Blackman
• 23 Jul

  

  

  100K Average Sales Outstanding Are Not Being Chased Up.

  According to new research on behalf of Lloyds Bank Commercial Banking, London based businesses are owed an average of £98,000 in outstanding customer invoices, and a third of UK businesses that were paid late in the last year, DID NOT chase up their outstanding payments.This research was reported by Business Money (10th July 2019), and it is unbelievable to think that London businesses could...

  By Glenn Blackman
• 22 Jul

  

  

  Scottish Company Factoring Arranged.

  We have just been able to help a car body repairer find an alternative factoring facility, due to the fact that they advised us that their well known factoring company no longer wishes to provide facilities to carbody crash repairers. They are also a Scottish registered company, which not every factoring company can support.I have mentioned before how different factoring companies will take...

  By Glenn Blackman
• 18 Jul

  

  30 Seconds On - Startup Funding For New Companies

  This is my latest explainer video in the series "30 Seconds On Finance".It explains how you can raise finance for a new start-up company, even if you have already been declined by a bank for a bank loan or an overdraft.With a new start-up company, often they have no assets, and no trading history. Hence banks are sometimes not keen to support them with traditional forms of finance, such as loans...

  By Glenn Blackman
• 17 Jul

  

  

  What Tools Does The UK Have To Fight Recession?

  There was an interesting piece in the Telegraph on the 15th of July 2019, saying that according to the Resolution Foundation, the U.K.'s recession fighting tools are already almost exhausted. This leaves the UK economy ill prepared to battle the next economic slump, when it arrives.The article goes on to describe how interest rates are already too low to be significantly cut, whilst the...

  By Glenn Blackman
• 16 Jul

  

  

  Update About The WCP Administration

  Working Capital Partners (now called WCP), the spot factoring and trade finance company, went into Administration back in May 2019, so I thought I would have a quick look at their site to see if there were any updates.As far as I can see, there is nothing changed on the site, and I have not heard any further rumours regarding a potential acquisition - let me know if you have.There are now some...

  By Glenn Blackman
• 15 Jul

  

  

  Replace Your Cancelled Invoice Finance Facility

  We have just been able to help a small steel fabrication business that were are using a selective invoice finance company, that wanted to cancel their invoice financing facility.The business deals with a number of construction sector customers, and hence a lot of their sales are billed via applications for payment, rather than invoices. The use of applications for payment, which is commonplace in...

  By Glenn Blackman
• 12 Jul

  

  

  Do You Need An Invoice Finance Sales Visit?

  Times have changed, when I worked for the invoice financing arm of Barclays, our sales people always visited new prospective clients, and these visits were the conduit to acquiring new business.The titles of the sales team vary between organisations, for example, "Business Development Manager", "Business Development Director" and "Sales Manager/Director" are often used interchangeably - but the...

  By Glenn Blackman
• 11 Jul

  

  

  Single Fee Factoring Typical Pricing.

  Single fee factoring is attractive to some customers because they like the idea of the predictability of charging. With a single fee arrangement, you know that there is just one charge that you have to pay, there are no complex discount margin calculations to be made – so you know what the costs are going to be at any time, an agreed percentage of your invoice value.As I explained in my...

  By Glenn Blackman