Would you like to know how invoice finance works?
Watch this short animated video to help you better understand how this innovative alternative finance solution works and see how it could help your business.
Want to find out more about how invoice finance could impact your business? See how much cash you could unlock from your unpaid invoices with our free calculator.
Video transcript
Issuing invoices feels good. Getting paid feels even better. But for many businesses, the gap between the two can be painful and expensive in terms of overdraft and bank charges.
There is, however, a solution. It’s called invoice finance and it works very simply.
We pay you up to 90% of the value of each of your invoices on the day you issue them. That gives you instant access to the money you’re owed. Then, when the bill is paid, you get the balance less an agreed fee.
It really is that easy and is one of the UK’s fastest growing business finance solutions.
There are two approaches to invoice finance. Invoice discounting and factoring. Both work in exactly the same way, by releasing cash from the value of your invoices on the day you raise them. Both solutions fund your business based on your turnover, rather than your credit rating, allowing you to improve your cash flow and free up working capital to help you manage your business. Both are supported by a dedicated relationship manager who will work closely with you to ensure you’re getting the most from your facility.
The only difference is that with factoring, you get the additional support of a professional and friendly credit control and sales ledger management team to follow up on any outstanding invoices. This not only saves you time and money in terms of staff costs, but also helps to avoid awkward situations with customers who owe payment from previous orders but who you still wish to sell to.
With invoice finance, you can also opt to protect your exposure to customers not meeting their payment terms with our 100% bad debt protection product.
We are proud to have won a number of awards for our market-leading technology, IDealTM and have worked with organisations across all sectors, in all industries and markets, so understand the challenges you face that are specific to your industry.
As part of Close Brothers, a FTSE 250 company, we’re financially sound as well as very experienced. We have offices all over the UK and Ireland with local people who understand the challenges of running a business.
So, each time you raise an invoice you know there’s a smart way to get your money quickly.
