Invoice Discounting

ABFA report for 2010 reveals remarkable popularity of invoice finance

ABFA’s annual report for 2010 has revealed a huge growth in money issued for invoices through invoice finance facilities.

Across the invoice finance industry as a whole, over £200 billion worth of cash was funded in 2010, showing a rise of 22% since 2006.

Since 2006, the amount of cash funded through invoice discounting facilities has risen by £34.8 billion, to over £180 billion in total. Cash funded through factoring facilities for 2010 equaled almost £18 billion.

Invoice Finance now even more popular amongst SMEs and larger companies, reports ABFA

ABFA, the Asset Based Finance Association, today announced impressive growth figures for its members as invoice finance yet again saw a big rise in popularity.

Advances from ABFA members to clients grew by 12% year-on-year, with £15.7 billion being distributed.

There have now been 5 quarters of continued growth in the amount of advances issued as more and more businesses opt for invoice finance solutions such as invoice factoring and invoice discounting.

Invoice finance outperforms the market with 9% increase in advances

New figures released today from the Asset Based Finance Association show invoice finance is out-performing all other types of business lending.

Total advances from members have grown 9% year-on-year. The total funding available was £21.1bn yet only £14.8bn was utilised by clients, meaning there were £6.3bn of funds still available.