Invoice Finance - Cash Flow Solutions for your Business
Invoice Finance is general term for money lent against a company’s unpaid invoices. There are two main products:
- Factoring
- Invoice Discounting
Factoring - is when a Factor or Bank gives your company money in advance and chases up your unpaid invoices on your behalf. It includes a full Sales Ledger management service.
Invoice Discounting - is when your company continues to carry out the collection of invoices from your customers. The bank or factor simply provides a discount of the invoiced amount.
Key Features
Invoice Finance offers a flexible form of finance which can grow with your business. If you use the Sales Ledger Management then you save all the time that you would have otherwise have spent chasing invoices, allowing you to spend more time focusing on growing your business. Bad debt protection is also available.
Who is it for?
Invoice Finance is for businesses who are seeking to improve or gain more flexibility in their cash flow. It can be used by a small start up company right up to multimillion pound turnover businesses.
Benefits
- Flexible borrowing rate - With Factoring, your facility can expand with your business order.
- More cash - Borrow more cash quicker, without having to wait a few days for it to transferred to you business account
- Invoices are followed up - For your convenience, your unpaid invoices are chased up saving you time
- Monthly statements - These are sent out to you to track and keep up to date with payments.
Next steps
- Contact any of our helpful factoring companies
- Discover options that meet closely to your business needs. You will need to have the required information on hand including your invoice structure
- You can compare your existing factor service quotes with our specialist providers
- Whenever you want, you can change factor providers and transfer your current factoring facility within the next 24 hours.
Manage your cash flow with Simply Business.
