Invoice financing is a form of cash flow finance which can release up to 90 % of your unpaid invoices. It can take form in a variety of different variations. There are basically 3 0r 4 core products and the 50 or so finance companies offering invoice financing provide slight variation on each of the core products. Invoice financing can take form as factoring , invoice discounting , confidential invoice discounting and confidential factoring. Invoice finance has beenone of the fastest growing areas of finance in recent years and even in the current economic climate and credit crunch there are still many finance companies offering such products. At one time invoice finance was seen as a lend of last resort. This stigma has just about disappeared especially when you consider the risk of using a bank overdraft which have always been repyable on demand. Invoice financing will provide a more secure form of funding that potentially can grow as your business does. XL Business Finance has been helping and advising businesses for nearly ten years and placing them with the most appropraite finance company.
Which finance company is best for you depends upon a number of different factors. Firstly do you require factoring or invoice discounting. The finance companies which are good at factoring are not necessarily the best at invoice discounting and visa versa. Factoring as much as providing cash flow is also about credit control and providing a debt collection service. Certain finance companies are geared up to chase customers debtors better than others. Also your geographic location must be a consideration. There are a number of smaller privately owned factoring companies dotted around the country. These finance companies can provide a most excellent service however they tend to stick to reasonably locall based companies. There might be one of these companies close to you. It is worth getting us to check it out for you.
Tags: invoice finance, invoice financing
