PLEASE NOTE THAT THE CBILS & BBLS is now closed to new applications
Invoice Finance is generally used by businesses to bridge a cashflow gap and to allow the smooth running of a business, without the worry of late customer payments. Business owners can often feel nervous when thinking about having an Invoice Finance facility due to the following common misconceptions surrounding the funding option.
“You’re going to hound my customers for payments”
Are you looking for an Invoice Finance solution but are unsure on whether Invoice Factoring or Invoice Discounting is the best option for your business? Are you worried you will miss out on the benefits of one solution if you decide to go for the other? Here’s our quick guide to the key similarities and differences to help you decide.
The similarities…
Consistent cashflow
Invoice Finance is a funding option that can be suitable for an array of businesses, whether they be big or small, new or long-established and varying in sector. One assumption about Invoice Finance is that is more suitable for new start-up businesses but there are actually a whole range of reasons as to why Invoice Finance can be perfect for mature businesses too.
Invoice Finance for mature businesses
Invoice Finance is generally used by businesses to bridge a cashflow gap and to allow the smooth running of a business without the worry of late customer payments. Business owners can often feel nervous when thinking about having an Invoice Finance facility due to the following common misconceptions surrounding the funding option.
“They’re going to hound my customers for payments”
Businesses within the haulage sector have experienced a significant change in demand over the last 12 months, whether it has been increased demand when supermarkets were in need or a decrease in required services as businesses ceased to trade. Invoice Finance can be very beneficial for businesses within the haulage and logistics sector. It allows businesses to benefit from extra monthly funds to invest in vehicles, keep on top of fuel and tax payments, as well as making sure employees are paid on time.