What is invoice finance?
Firstly, invoice finance (or ‘factoring’) is a valuable financial service that is used to grow businesses by releasing cash tied up in existing invoices or future payments. This solves problems with cash flow and late payments. You can read more about invoice finance here.
Here at Goodman Corporate Finance, we offer two core factoring options for clients:
- Business cash advance (cash is secured against future debit or credit card payments)
- Pay as you go factoring (cash is secured against unpaid customer invoices)
Is it the right option for me?
Most importantly, utilizing invoice finance can offer short term working capital when your business needs it most. In some instances, your money will be released immediately. The working capital released from this service can be used however you wish, e.g. for buying stock, furniture, advertising, or other marketing activities.
We now have a FREE handy PDF guide on factors you should know if you’re considering using this service – check it out here.
Read how invoice finance has helped Crusher Consumables release funds for additional stock and improve response times.
Advantages of this service:
- Quick – immediate cash with the pay as you go option – particularly useful for unexpected cash flow issues
- Cost-effective – no minimum fees or lengthy commitments
- Simple application process and more straightforward to put in place than other types of business credit
- Ideal solution for growing businesses as the available finance facilities grow in line with your turnover
- The more money you make, the more funds you’re able to release
- Invoice financing can ease problems associated with slow paying customers
We have recently been awarded ‘Highly Commended’ invoice finance broker of the year 2022. We are proud to have been awarded the 2021 Invoice Finance Broker of the Year Award by Business MoneyFacts after being Highly Commended in 2020.
If you would like to discuss this service in more detail, please contact a member of the Goodman Corporate Finance team. You can get in touch by calling 0333 3583502, emailing email@example.com or completing our contact form.