Simply releases the cash from your unpaid invoices. This can be ideal for lower volumes of invoices or where you have plenty of resource to manage your sales ledger. For added comfort, most funders will offer protection against bad debts.
In addition to invoice discounting, this provides more support with a full sales ledger administration service including credit control and chasing your customers for payment. If necessary, this can be done confidentially, so your customers will not be aware you have outsourced this. It is designed to grow with your turnover and could be the best solution if you have a high volume of invoices and don’t have enough time to manage them.
As we come out of the pandemic, this type of finance will be increasingly useful. For example, you could use it to support your customers and build long-term loyalty, by giving them longer to pay, without impacting your cashflow.
We have personal relationships at a senior level with every major funder in the UK so are very well placed to find the right solution and funding partner for your unique circumstances.
Many businesses throughout Scotland have recently been recategorised by the bank as a result of taking on debt during the pandemic and we’re supporting lots of these with funding.
You might find invoice finance specific to Trades and Stocks beneficial and here’s some information on those:
If your current funding or existing invoice facility is at risk of being withdrawn, contact us to discuss your funding options to help boost your business recovery.
Find out if we can help your business with Invoice Finance