Invoice finance allows you to release funds tied up in outstanding invoices. It comes in several forms including invoice financing and invoice discounting.
Invoice finance allows you to quickly release funds tied up in outstanding invoices. This can be an ideal way to assist with cash flow, ensuring suppliers, employees and other bills are paid on time without being held up due to late payers. Invoice finance comes in various forms:
- Construction Invoice Factoring – Specifically aimed at those in the construction industry. Allows for projects to be kick-started into action while awaiting the first payment being made. This can ensure necessary supplies are purchased and staff paid, so that the job can begin.
- Invoice Factoring - Enables you to access the value of outstanding customer invoices before they are paid. When a business uses invoice factoring, they benefit through an immediate boost to cash flow, while at the same time eliminating the need to chase outstanding invoices, saving you valuable time.
- Invoice Discounting – This works in a similar way to Invoice Factoring, except here you maintain full control over the collection of the outstanding amounts.
- Spot /Selective/ Singular Factoring- All names for the same product. This allows you to access the value of a specific invoice rather than your entire ledger.