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5 Reasons Why Invoice Finance is more Effective than an Overdraft

It’s difficult to find a finance option that suits your business. Is invoice finance better than an overdraft? Which one suits my business goals? How effective is invoice finance? The search for answers is over…


Tailored to your short term or long term needs

There are many options when choosing invoice finance that will fit your needs, where as an overdraft only has 1 option. We can offer a variety of choices that will suit your business goals:

Long Term:

Invoice Finance: will provide up to 90% of your invoice value within 24 hours

Confidential Invoice Discounting: is similar to invoice finance but all of its confidential

Short Term:

Selective Invoice Finance: this is available on 1 invoice or a batch of invoices, with this option you choose which invoices you would like to factor

Separate from your bank

Invoice Finance doesn’t rely on your bank and is separate from your bank’s arrangements, which makes it a cost-effective alternative. You could be refused an overdraft from your bank or an increase to an existing overdraft, this is where Invoice Finance comes in handy!

Funding will grow with your sales turnover

As your sales turnover increases, so will your funding availability. An overdraft will not do this. An invoice finance company will advance the money that is already owed to you and you won’t need to worry how you repay your balance, this will be repaid once your customer settles the invoice.  

Tailored Credit Control

Some Invoice Finance providers will offer well-tailored Credit Control. With this option, a team will be working for you to collect payments from your customers while you concentrate on other activities to help grow your business.

Bad Debt Protection (BDP)

Factoring providers will offer bad debt protection, which means if one of your customers fails to pay a debt or becomes insolvent, the factoring provider will credit you the amount the debt is or the approved credit limit. With this option, it will give you a piece of mind as it protects your business against the risk of your customers falling insolvent.

Added: 08 Mar 2019 14:37

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