- 03 Apr
Single Invoice Finance For A Fashion Designer
Glamorous is not how you might typically describe the world of invoice finance, but sometimes we can become involved with funding far more glamorous sectors, such as the case below, in the fashion design sector.
Funding A Fashion Designer
This was a case where we were able to assist a small fashion designer that was looking for funding against a single invoice initially. I have written recently about how late payments are affecting creative sectors, like fashion design.
The deal was complicated by the fact that they prime mover was in fact a foreign national living in the UK. This means that some of the well known UK funders are unlikely to want to finance such a business - therefore our client needed a specialist lender.
Single Invoice Finance
We were able to introduce this fashion design company to a selective invoice finance provider, that can offer them single invoice funding. By its very nature, it often involves a single debtor situation, where there is only one customer. Many funders will now allow these situations, so it is a niche type of finance that is needed - and not all funders will allow you to pick and choose the invoices to be funded.
This client opted for one of many types of invoice funding that are explained in our free guide.
Selective - Choose Invoices To Fund
The selective nature of the facility means that they are not locked into providing all their invoices for funding, and they can choose to use the facility whenever their cash flow requires an extra boost.
Factoring For Credit Control Help
In addition, they have a factoring style arrangement so that they will also receive a credit control service for their funded invoices. This means that they won't have to do the credit control and chasing themselves. This is sometimes called spot factoring.
The flexibility with type of arrangement is that the client can use the facility as and when they choose, without being locked into any minimum turnover levels. As the business grows, they may choose to make more use of the funding as it can be an ideal way to finance the growth of a company, where other forms of finance e.g. overdraft, do not grow in line with turnover.
- 25 Feb
The Price Of Single Invoice Finance
Comparing prices for single invoice finance is not quite as straightforward as you might expect. I have just been looking at an example of some costings sourced for a prospective customer and there are numerous different pricing systems being used by the different invoice finance companies that we have spoken to.It is always worth comparing selective quotes against other forms of invoice...
- 14 Feb
Using Early Payment Discounts To Improve Cash Flow
Recently, we received an enquiry from a prospective customer seeking selective invoice finance. They were having a temporary cash flow problem, but they had two invoices totalling £5K that they said they wanted to discount in order to access the cash tied up in those invoices, immediately.Selective invoice finance would seem to be the perfect solution, as there would be no obligation for them to...
- 20 Dec
Spot Invoice Finance
I had a conversation the other day, with a colleague who follows my blog posts on LinkedIn, and he said "you must get loads of business from LinkedIn?", not a lot I replied - in fact I can't remember the last time someone contacted me directly via LinkedIn. Then, coincidentally, a couple of days later, I receive a request for spot invoice finance via LinkedIn!The term "spot" is more commonly...
- 27 Mar
Short Term Invoice Finance
Many companies are not aware that you can use invoice finance on a short-term basis. There are facilities available that are of an ongoing nature, for long term use, but there are also short-term invoice finance facilities that allow you to use the service for as little time as you feel you need to.Invoice finance works by releasing a proportion of the value, of your credit sales invoices,...
- 11 Mar
Selective Debtor Finance From Scottish Pacific
UPDATE SINCE PUBLICATION: SCOTTISH PACIFIC BUSINESS FINANCE TO EXIT UK MARKETI have just had an email from Scottish Pacific Business Finance which was headed “Invoice finance with a difference“. The addition to their product offering is a selective debtor finance option.The way that the product works is that you are able to select debtors against which to receive funding and bad debt...
- 19 Feb
The Pros And Cons Of Selective Invoice Finance
Selective invoice finance (SIF) has a number of pros and cons when compared with a whole turnover (WT) facility.It should be noted that there are many similarities between both SIF and WT, for example, both types of facility deliver cash flow improvements, both have credit control, bad debt protection and confidentialty options.This is an explanation of the key differences....
- 14 Sep
Selective Invoice Finance For New Starts - No Minimums
Selective invoice finance for new starts can be the most flexible option when you first launch you new start businesses. When you launch your new start you are always going to be uncertain that it will take off and that you will achieve the level of turnover that you hope for, but you may still want the benefit of funding against your invoices before they are paid, to improve your cash flow....
- 03 Aug
Selective Invoice Finance Price
This is an example of a selective invoice finance price that we found for a customer recently.With this particular client, they already had a recourse factoring facility, but they wanted to take over handling the collections (credit control) themselves. Some companies prefer to handle the credit control themselves, others choose to outsource the function.They also only had a very small borrowing...
- 12 Jun
Selective Invoice Finance Fast
This is an example of just how we can get selective invoice finance fast for a client - we can ensure a fast turnaround for you if you need help quickly.In this particular case we were contacted by a car repair body shop that was looking for a selective invoice finance facility. They contacted us on a Sunday, we introduced one of our funding partners, that specialises in car body repair shops, on...