Invoice Factoring Blog, 15th April 2016
Whilst this week has not exactly been overrun with enquiries those that have appeared have been in sectors not traditionally associated or liked by the invoice finance market.
Not too many years ago businesses that sold to other businesses were restricted within invoice finance by providers ignoring certain sectors that were perceived to be of a higher risk. Construction was an obvious one and then individual financiers had an idiosyncratic approach that sometimes precluded sectors favoured by others. By way of an example, one bank would not consider, for invoice finance, any business within the watch market.
Now, both with an increase in the number of funders and a more commercial and innovative approach to risk, invoice factoring businesses will consider virtually all categories of business. Domestic or export makes no difference and the nature of the debt created will be explored fully to find a way to raise finance.
But, and its a big but, not all financiers are the same and whilst many will say they will do something the reality can be very different. This is exactly where an independent broker can assist. With 30 years industry experience and nearly 20 years broking we do know which invoice financiers deliver on promises and which ones dont
Away from work there has been more coverage this week of businesses turning away Guide Dog owners because their dog was not welcome. This is against the law and undermines a Guide Dog owners confidence in a profound way. If you have a minute to spare the Guide Dogs for the Blind would like as many people as possible to sign their petition, www.guidedogs.org.uk/AccessPetition