BBC Radio 4 - Today, reviews Invoice Finance
Listen to the case for using invoice finance broadcast on 23/08/10. Banks are still regarding SME’s as risk businesses and are often not able to give viable businesses overdraft facilities. In 2007 business lending was £20 billion now in 2010 the figure stands at £7.5 billion according to NACFB and buy to let lending has dropped from £10 billion in 2007 and now stands at £0.5 billion.
Link to the business news item.
Cash flow improvement through invoice finance
It may be stating the obvious, but the number one reason for using invoice finance is to generate immediate cash (up to 90% of invoice value) to pay wages, tax bills, suppliers etc.
This means happy employees, discounts from suppliers and, most importantly, a lot less stress for the business owner.
In addition, a business which is already trading (as opposed to a start-up) can release a lump sum cash injection from its current sales ledger. Start an application now