Invoice Finance Product Launched For Very Small Businesses
There seems to be mounting interest in smaller businesses at last amongst the invoice financiers. Over the last couple of years there has been little on offer to small businesses but suddenly there are a number of products coming onto the market specifically for them.
One such product has just been launched by a major bank that is one of our funding partners. The invoice finance product is specifically for businesses with annual turnover between £50,000 and £100,000 and its notable features are:
- 75% funding against invoices
- No discount charge
- Minimum service charge of £100 per month – which could be beneficial for seasonal businesses
The facility is dependent upon the business banking with the funder.
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September 20th, 2010 at 11:22 am
Hey Glen,
You forgot about the Spot Factoring Option. This is also aimed at SMEs but typically offers an 85% payount and no monthly administration fees. SMEs simply dip in an out as they need.
More information at http://www.cash101.co.uk and case studies at:
http://www.sales-101.co.uk/cash101/Case_Study_Luxmore.pdf
http://www.sales-101.co.uk/cash101/Case_Study_A1.pdf