Invoice Factoring

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.

Can Invoice Finance Work for Your Business?

Cashflow is the heartbeat of any business and the way you fund your business is a big decision and one that can be catastrophic if you get it wrong.

With many High Street Banks having tightened their credit policies and being unwilling or unable to support many small and medium sized businesses through these difficult times, it’s not surprising that more and more businesses are turning to alternative sources of finance.

Q&A with Bill the Invoice

We talk to Bill The Invoice, Skipton Business Finance's well-known mascot in the haulage industry, to find out more about the growing popularity of Invoice Finance in the logistics sector.

Businesses increasingly turning to invoice finance, reports Bank of England

Asset-based finance is fast becoming a favourite of SMEs in search of credit, a Bank of England report has found, as businesses increasingly turn their backs on inflexible bank overdrafts.

Alternatives for financing working capital that are available in place of overdrafts, such as factoring and invoice discounting services, are being seen as particularly useful to small firms, who fear banks will cut overdrafts or increase rates.