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How Invoice Finance Can Help Your Business

November 2020

In the current global climate that we find ourselves in, there is no time as relevant as now to consider Invoice Finance.

Invoice Finance is a straightforward type of funding that improves cashflow within your business. We work with a range of providers to deliver you funds when your customers do not pay in a timely manner, so you can continue to manage your business. Our experts here at Aston Shaw can release up to 90% of your unpaid invoices.

So how does it work?

We work hard with our extensive range of providers to find you the best deal for your business. Once we have negotiated the best possible agreement, the provider will then give you an agreed percentage of your invoice in advance. The debtor (the invoice recipient) will then pay our provider the full cost of the invoice. Once they have been paid by your debtor, they will send the remaining balance back to you. We work tirelessly to find you the best deal so that you can save time and resources.

Invoice Finance therefore collects the payments on your behalf managed by our range’s team of experts, allowing you to focus on your business, since this means that you will no longer need to wait weeks for the money from your invoice. You can then prioritise paying your staff, purchase supplies, HMRC or any other outstanding business costs, as your money will be readily available.

Here is an explanation of how our Invoice Factoring works:

Without Invoice Finance, you are relying on customers to pay you in good time, and this money could be tied up for weeks. Not only can this service save your business time, it also gives you a peace of mind. With Invoice Finance, there is no longer a necessity to spend time chasing your customers for money that they owe you.; it allows you early access to cash that you are owed. Furthermore, since funding is based on your sales invoices, the more you invoice, the more cash is available. This makes it ever more convenient and beneficial for you to allow our providers to manage your finances, and is a cost-effective alternative to a bank overdraft.

Since Invoice Finance is an umbrella term, there are different services available depending on your business circumstances. Here are the Invoice Finance services we offer:

Invoice Finance TypeDescription
Invoice FactoringUse your existing debtor book to provide working capital. Your customers will be aware of the lender’s involvement and the lender will operate your credit control on behalf of your company.
Invoice DiscountingIf you already have a solid financial system in place, then invoice discounting can confidentially provide working capital against your invoices without the need for the lender to operate your credit control. This means that your customers will not be aware of your chosen funding method.
CHOCCSYou maintain the relationship with your customer and manage your own credit control. However, the lender’s involvement is not confidential in this process.
Payroll FinanceThis is for recruitment companies who place temporary and/or permanent staff. We have lenders who can release cash whilst paying the temporary staff, and handle credit control whilst maintaining payments to HMRC.
Trade FinanceWe can provide a comprehensive funding package for UK importers who require up-front funding against secured orders. This can be used in conjunction with other invoice finance facilities.

To find out more about our Invoice Services or to find out more about how we can help, get in touch with us. Your company’s success and security are paramount to us.

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