Who qualifies for invoice financing?

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Companies possessing the following characteristics can take advantage of invoice financing:

1. Projected turnover of over £50,000 for the next 12 months. It doesn't matter if your company is a start up or has existed for 10 years, if your projected turnover for the next 12 months is greater than £50,000 it qualifies.
   
   
2. Your business normally sells its goods or services on credit terms. If you are paid cash for your goods or services you will not have invoices to finance.
   
   
3. Your business must invoice clients after the goods are delivered or the service is performed. If you invoice your clients prior to performing the service or delivering the goods you invoices will not qualify for financing.
   
   
4. Your clients must be other businesses.

Why should you use invoice financing?

There are several reasons that companies use invoice financing, the following are just a few:

1. If your business needs fund to finance an increasing level of turnover
   
   
2. If your cash flow is suffering by inefficient debt collection methods.
   
   
3. Your business needs a cash flow or administrative solution to overcome the strains caused by fluctuating seasonal demand
   
   
4. A business wishing to concentrate on sales and allow their sales ledger administration to be handled in a professional manner.

Click here for quotes from over 15 invoice financiers.