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What is Invoice Finance?
Businesses can often experience cash flow pressures when a large contract has been secured. The 60 -120 day payment terms that are common within contracts, versus the up-front costs and daily running of the business can apply pressure to cash flow. More and more businesses are turning to invoice financing as a means to alleviate this pressure.
Invoice Financing can be arranged completely confidentially, and your clients need not be aware of any third-party involvement.
Simply invoice your client with a commercial invoice, copying in your chosen finance provider. Your finance provider will then release an agreed % of the funds invoiced, up to 90%. Your finance provider therefore takes responsibility for the % owed by your clients. Once full payment from the client has been received by the finance provider within the agreed payment terms, you will receive the remainder (excluding any agreed fees and interest)
Invoice Financing brings with it many advantages;
– You are not confined by payment terms agreed with your clients, allowing money to enter your bank quicker.
– Immediate cash advances on existing invoices
– Fully confidential
– Immediate access to funds, usually within a 24 hour window
– Access up to 90% of invoiced payments
– Boost cash flow