After a week off which saw the most productive week of the year in terms of deal completions it was back to the office and the telephone.
Single invoice finance has been of main interest this week with two very different businesses obtaining offers within the space of three days. For one an invoice of just over £25,000 will generate funds of £17,500, for the other an invoice of £10,000 will generate around £7,750. In the latter case the business operates within professional services, with a debt not traditionally associated with invoice finance.
In both cases what appealed most was the lack of any long term contract and although the facilities are relatively expensive this is offset by the lack of any constricting contract.
On a larger scale a business with annual sales of £2,250,000, providing engineering services within the automotive sector has an offer of invoice discounting. The business has a sales ledger totalling £425,000 and the offer of invoice discounting should release approximately £295,000. The business has been funded by an overdraft up til now with a limit of £165,000 so in taking the proposed invoice finance facility the business will receive a material cash benefit.
Invoice Finance can provide a real cash boost to a business and the options now available bring real choice. With choice can sometimes come confusion which is where an independent, experienced broker, such as Factoring Partners can bring real value.
Our services are free – we are paid by funders for successful introductions – so there really is nothing to lose.
Pleasingly the election is not being used as a reason to defer any decision and this may be attributable to the seemingly inevitable post election state of limbo a hung parliament will bring. In the meantime our media is filled to the brim with politicians becoming less and less plausible and appealing.
Still, its Friday and old friends from the invoice finance world have appeared…………….