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.
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