Invoice Finance is still the fastest growng commercial financial product available. The ability to release cash against unpaid invoices can provide the financial freedom which the traditional banking products so often fails to deliver. The good news is that there are still many finance companies offering invoice finance and as such it is relatively easy to obtain funding. Which finance company is best for you depends on the your particular circumstances. XL Business Finance has experience in organising invoice finance for businesses turning over £70k to big PLC companies with turnover in excess of £30m. We have the expertise and knowledge to help guide you through the manydifferent options and match you with the most appropriate finance company.
As with any type of finance high street banks try to be all things to all men and in reality don’t often do the job as well as an independent finance company. An independent invoice finance company is not bank owned and obtains funding from private and independent sources. Therefore an independent invoice finance company tends to be a little bit more flexible and approachable than a high street finance company. However there are certain high street banks that are particularly good in niche areas. For example one high street bank is very good at doing international trade finance whereas another high street bank is very good at doing construction invoice finance. The point is that a good independent factoring broker can save a business time and money by recommending the most appropriate finance company.
Obviously there is other criteria which we take into consideration. The geographic location can be important but not paramount. Te length of time the business has been trading. The profitability of the business. The quality of the debtor book to be funded and whether there is any adverse credit all need to be taken into consideration. And the good part is that our service is totally free of charge. It doesn’t cots you a penny to be put in touch with the most appropriate invoice finance company.
