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We have 43 invoice finance providers waiting to compete for your business

Every business relies on cashflow – it’s what keeps the cogs moving. If cashflow is an issue for you, invoice finance can help. Why wait 90 days to get paid when we have providers who will pay 100% and advance in 20 hours.

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What is Invoice Finance?

Invoice financing is a form of asset-based borrowing that allows you to use your unpaid invoices as collateral to get paid.

✔You invoice for completed work

✔You decide whether you want a ‘one off’ or ongoing payment facility

✔You get paid up to 100% within 24 hours

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How can Invoice Finance Help?

✔You remain in control

✔Decisions to fund invoices are made quickly

✔The funding grows in line with the company turnover

✔Typically you get greater level of borrowing against the assets

 

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How Does Invoice Finance Work?

The concept is really very simple, rather than wait 30,60 or 90 days to get paid on invoiced work you obtain an advance of most of the invoice which allows you to focus on running your business. Once the invoice gets paid you receive the remaining balance of the invoice value, less any charges – 0.5-3% is not unusual but this will vary greatly dependent on the case.

Typically once accepted the invoice finance provider pays you between 85% up to 100% of the invoice value, usually within 24 hours.

There are different variations:

Factoring – If you select factoring, the provider chases your customers, takes responsibility for credit control and collects full payment from your customers.

Invoice Discounting – Sometimes called Discreet Invoicing because the customer may not know you are using invoice finance. The reason is simple. If you select invoice discounting, you retain full responsibility over the administration of your sales ledger and debtor collection. So you remain in full control.

Selective Invoice Finance – Sometimes called ‘Spot factoring’ this is the most ‘user friendly’ option. The reason is simple as you ‘select’ which invoices you want to use. So, no long term contracts and you remain completely in control.

 

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How does invoice finance work?

How to choose the best provider

How to Choose The Best Provider

Once you’ve decided invoice finance is the best fit for your business, your next job is to find the most suitable provider. Your relationship with an invoice finance provider will typically be over the longer term, so it pays to do your homework to make sure you get it right. Here, courtesy of Business Expert, is our essential guide to choosing your invoice finance provider.

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Factoring Vs. Discounting

Invoice factoring vs discounting

Factoring

Factoring is a short-term financing method where you effectively ‘sell’ your outstanding invoices to a third-party commercial finance company. The company will then be responsible for collecting payment.

Invoice discounting vs. factoring

Discounting

With invoice discounting, you maintain responsibility for your sales ledger, payment chasing, and invoice processing. As a result, your customers are unlikely to be aware of your relationship with the lender.

Benefits, Risks & Costs

Managing risk and reward can be a tricky business in itself. Statistically, you are at your most vulnerable as a start-up or young business. Inevitably, the key difference is that more experienced entrepreneurs are not afraid to seek – and pay for – professional help. When a company is younger it often does not have the cash to pay for advice so more vulnerable.

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Is Invoice financing for me?

If cash flow problems are keeping you up at night, you are far from alone. Statistics show that most small businesses experience a lack of working capital at one time or another. For a significant few, this it becomes a recurring problem. 18 percent of British businesses are plagued by regular cashflow problems – and 31 percent expect the problem to get worse in the next six months

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Meet the Providers 

ABFA Affiliate

Business Expert are proud affiliate members of The Asset Based Finance Association (ABFA) which represents around 90% of the UK invoice finance lenders and provides a Standards Framework for clients.