Invoice Factoring in Edinburgh

lloyds bank commercial finance edinburghIt is common practice for small business owners to look for ways of speeding up their business’ cashflow and ultimately make things more financially stable for themselves.

Through the times of the COVID-19 pandemic this has become even more prominent in the minds of small and independent business owners.  If you complete some work for a client and don’t want to wait around for the money to come in, you can now be paid immediately.

Businesses located in Edinburgh, Midlothian can apply for invoice factoring today; a service which allows you to receive the vast majority of the total VAT inclusive value immediately. This can be a huge help to business owners that may be searching for a fast and effective way to inject some cash into your business, rather than waiting around for your pending invoices to finally be paid.

Invoice Factoring for Edinburgh based businesses

Invoice factoring is a way for Edinburgh based businesses to raise money by selling invoices to a factoring company at a discount. Factoring usually includes credit control, this is where the lender chases unpaid invoices up on your behalf. UK factoring companies help release cash from your debtor book. Here is everything you need to know about invoice factoring.

Features of Invoice Factoring

  • The lender will provide credit control services to keep your customers paying on time by sending regular statements of account, reminder letters and telephone calls as appropriate.
  • Outsourcing the credit control allows you to focus more on your business and not having to chase late-paying customers.
  • The lender handles collecting payment from your customers, so your customers will know you’re using a factoring provider.
  • The lender can provide credit checks on existing and potential customers.
  • Well suited to small or early-stage companies.

Benefits of Factoring

  • Factoring bridges the cash flow gap between paying suppliers and getting paid
  • Credit control expertise helps to reduce in-house overheads and improve collection times
  • More flexible than overdrafts and bank loans, as funding grows in line with sales ledger
  • Credit protection can safeguard against debtor insolvency or protracted default
  • Improved cash position can help you secure supplier discounts

Commercial Finance for Edinburgh Businesses 

If you are an Edinburgh-based business looking to raise commercial finance, Invoice Funding are ideally positioned to help you. As a business owner you have heard the words “commercial finance” uttered once or twice. But despite it being common jargon within the industry, it can still conjure up uncertainty for some business owners, unaware of the options available to them.

So firstly, a simple definition. Commercial finance is the term given to a huge range of business finance products that include both short and long-term solutions, offered by a provider external to the business. A business might seek commercial finance if they have reached a point where growth is imminent. Sometimes there is an obstacle in the way of attaining necessary growth – and that obstacle is funding.

Commercial finance in Edinburgh ensures that businesses, regardless of size, can thrive and hit their targets, rather than miss out purely because they have to wait to generate enough cash to re-invest for themselves. Commercial finance is essentially a way of providing working capital for businesses.

Better access to commercial finance has paved the way for small and medium-sized enterprises (SMEs) to flourish. Recently the commercial finance landscape has expanded, where as once there was just banks, alternative finance providers have businesses more options than ever before. 25% of small scale businesses have their loan applications rejected by banks but these new alternatives give fast access to businesses who would otherwise have to go without.

We are experts at helping owner managed businesses raise finance. Our strength lies in our experience and knowledge of the many different financial organisations that are available to businesses. We can help your application be successful by finding the right active provider of commercial finance and ensuring your application complies with their lending criteria.

How Can Invoice Finance help your Edinburgh Based Business?

There are a number reasons why businesses based in Edinburgh may look at using invoice factoring to improve their current situation. It maybe that you’re struggling to cover your running costs or that lengthy invoicing terms are restricting the amount of new work you can take on.

Due to the relationships with invoice finance lenders we have carefully nurtured with our years of experience, we are best placed to negotiate special rates and arrangements. This puts us in a position to secure more favourable terms and conditions with our panel of funding lenders than if you contacted them directly. Combining this with our market leading industry knowledge and insight, it means that Invoice Funding is the only name in Edinburgh you need to know when it comes to sourcing finance solutions.

If so then it may be worth considering invoice finance as a funding solutions for your Edinburgh business. This allows you to gain access to essential funds as soon as your invoices are sent out, giving you the capital you need to grow your business.

Would You Like To Know More About Asset based lending?

Invoice Funding are one of the UK’s largest Invoice Factoring & Invoice Discounting Brokers. We offer free of charge comparison services. We do not charge a fee for sourcing you the best Invoice Finance deal. As a leading factoring broker in Edinburgh we gain preferential rates from funders and lenders.

Business based in Edinburgh can learn more about Invoice Factoring & Invoice Discounting from our team of Financial Funding Solutions experts, feel free to place an enquiry online and one of the Invoice Factoring team will return your call.

Fund Your Business

Speed up your cash-flow today. Forget issues caused by slow-paying customers