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10 things you need to know about invoice financing

November 30, 2016

 

Invoicing financing, also known as invoice factoring, or debt factoring, allows businesses to manage their cash flow, giving them the freedom to grow. An invoice finance company buys a business’ invoices and releases a percentage of the invoice (up to 90%) immediately. Invoice financing can be faster and more cost effective than a bank loan.

 

 

Here’s what you need to know about invoice financing:

 

  1. Invoice financing can give you access to funding on the day you provide your invoice, giving you up to 90% of the value of that invoice.

  2. Factoring companies will credit check potential customers, meaning you can work with companies who pay on time.

  3. Invoice finance can be confidential (known as invoice discounting), so clients don’t need to know you’re working with a factoring company and borrowing against their invoices.

  4. The factoring company will look after your sales ledger, and chase up any unpaid invoices, allowing you time to focus on other areas of your business.