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”
A common concern surrounding Invoice Finance is that customers are going to be hounded or pestered for payments. At Skipton Business Finance, we’re passionate about credit control and have a wealth of experience in ensuring our client invoices are amongst the first to be paid each month. We believe that successful credit control is more about relationship building and understanding individual customer payment cycles. However, if you are worried about your customers being chased, you can opt for Invoice Discounting. With this product, you remain in control of collecting payments from your customers, as oppose to your funder doing it for you. This is a great option for businesses that prefer to be in control of how their invoices are collected and who are comfortable with their clients knowing of their involvement with an Invoice Finance provider.
“Everyone is going to know that I needed funding”
If you’d prefer your customers to not know about your Invoice Finance facility, that isn’t a problem. You can opt for a Confidential Invoice Finance facility. This means that your customers will not be aware that you have an Invoice Finance facility in place.
At Skipton Business Finance, we understand that not every business will feel comfortable disclosing the fact that they have an Invoice finance Facility. Our Confidential Invoice Discounting solution boasts all the benefits of an Invoice Factoring facility however you maintain responsibility of your business’s credit control. If you want our specialised team to chase customer payments for you, you can opt for our award-winning My White Label product. With this facility, every point of contact we have with your customers is undertaken professionally and confidentially using your company’s name, brand and logo at all times. Your customers will never be aware that you are working with us.
If you feel uncomfortable with the idea of disclosing your facility to your customers, don’t let this put you off from all great benefits that Invoice Finance can bring to your business. As mentioned above, there are a number of confidential options available for your business.
We have a number of Confidential Invoice Finance solutions that could help your business: