Invoice Finance is also known as invoice factoring and invoice discounting, invoice finance allows you to raise finance from unpaid invoices owed to you by your customers.
For many businesses, outstanding sales invoices are the largest asset with up to one quarter of an annual turnover remaining unpaid at any one time. This “locked up” cash can greatly impact the growth potential of a business and may sometimes force a business into insolvency.
Available to the majority of businesses who have credit sales to commercial buyers – including start ups – an invoice finance solution is not dependent on historical financial performance and therefore provides an easily accessible means of financing growth, particularly for new start businesses.
Invoice Finance enables you to confidentially raise funding from your unpaid invoices without waiting 30, 60 or 90 days to be paid by your customer. Invoice Finance and Discounting with Global Asset Finance delivers improved cash-flow, offers the option to protect your business from bad debt and supports you with quality service from a personal Relationship Manager – while you continue to take responsibility for credit control in-house.
How does Invoice Finance work?
With Invoice Finance, you raise an invoice to your customer on your own company stationery, send it to your customer and then present us a copy for payment. We give you up to 95% of the value of the invoice straight away. Your own credit controller secures payment from your customer, which is then paid in to your client account at Global Asset Finance. (Your customer has no idea that anyone else is involved.) Once the funds have cleared, we send you the balance owed, less our fee.
Invoice Finance is ideal if you have a monthly turnover from £5,000 to £10,000,000. We offer our services. Invoice Finance enables you to quickly inject capital into your business, without having to deal with banks or sacrifice equity.
The benefits of Invoice Finance include:
- Improved cash flow: you no longer have to wait up to 90 days to get paid
- It’s confidential – your customers will never know
- Up to 95% of invoice value available when you bill your customers
- The option to combine with Bad Debt Protection to minimise the risk
- Cleared funds can be in your account the day after you raise your invoice
- You retain control over your credit control function
- Fast access to finance
- The potential to raise even more money through our fantastic range of additional services.
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