Searching for and comparing invoice finance providers and rates can be a time-consuming process. Here’s a recent example of how we helped a client secure a valuable invoice financing facility in just 11 days.
Our client was in the difficult position of having had their funding pulled on their main customer. Their facility had been with a high-street bank, and they’d been using it for just over 10 years. It was critical that the customer concerned was funded to support the business’s cash flow and projects.
Within the same day of our first call with the client, we had 3 offers on the table for a like-for-like financing facility, without the funding restriction.
Based on our conversations and advice, the client chose to move from the bank to a smaller independent funder, as they liked the flexibility this new provider offered. The MD of the new funder even attended the client meeting to provide reassurance that there would not be any requirement to change the funding levels in the future.
Within 11 days of our first call, our client had moved funder and gained a larger funding limit than what they had in the first place with their high-street bank.
If you’re in a similar position, as specialist brokers we can advise you on switching invoice finance providers and secure the best deal for your business.
Whenever we introduce a client to a lender, the lender knows it’s likely that we’ve referred the client onto 2 or 3 other potential funders as well. This incentivises the lender to provide a competitive offer – without it, chances are they will not win the client’s business. And since we know what the market rates look like, lenders will often want to keep us as brokers as happy as possible in order to get repeat business from us. That means better terms/rates for our clients on their invoice financing.
Ultimately, we’re able to offer our clients cost savings that they couldn’t achieve themselves, even by going direct to the lenders.
It’s also worth a reminder that you don’t pay us a thing for our services – our costs are covered by a commission charged to the lenders.
In fact, a well-known high-street bank have told us in the past that they typically price facilities cheaper for clients introduced by a broker than those introduced by a bank manager. The reason for this is that a referral from a bank manager typically means a lack of competition and the client having no other offers to benchmark the fees against.
We’ve chosen to stick to our invoice finance niche. It’s where our expertise lies and it’s where we can add the most value to our clients, irrespective of the size of their business or the sector they operate in.
We specialise in a wide range of invoice finance products:
As a result, we’re best placed to advise you on which invoice financing option will best suit your specific business needs and circumstances. We’ll also save you valuable time in researching the right facility/providers. As in the example above, we can also introduce you directly to the key decision-makers, making the funding process as seamless as possible.
Gain access to 95% of funders in the marketplace
The invoice finance market is expanding all the time. While that keeps fees competitive, it also means finding the right financier can be an onerous task if you’re trying to do it solo.
Our contacts and networks mean we cut through all the jargon and the time-wasting and get our clients in front of suitable lenders asap, often within the same day. We can also introduce you to potential funders who simply can’t be found without our expert insight into the industry.
We’re on a mission to help businesses of all shapes and sizes unlock the benefits of invoice finance. We’re honest, transparent and straight-talking when it comes to finding the most suitable financing facility for your business. We especially enjoy helping startups and SMEs, as well as business owners who may be struggling to secure business finance.
Talk to one of our invoice financing experts today. Our advice is 100% impartial and 100% free.
Invoice Finance is a perfect way to help your business manage cashflow and to remove the headache of late payers. There are a number of ways that an invoice finance facility can be structured and it can be tailored to your preferences.
Why not try our “help me choose tool” to allow us to support you in making the right decision for your business in 4 easy steps?
