Is your business in need of more cash?
HENRY HOWARD FINANCE can assist you by quickly
turning your invoices into cash, through Invoice Finance.
Invoice Finance is the collective name for a range of services designed to improve you business cash-flow. The process works by freeing up cash from your invoices as soon as they are issued. This service is ideal for businesses who sell to other businesses on credit terms.Invoice Finance avoids the need to increase overdraft facilities in line with business growth. The more your sales book grows, the more invoices can be turned into ready cash. Improved cash-flow can help you negotiate better terms or early payment discounts from suppliers. In addition, Invoice Finance can avoid the hidden costs associated with providing extended credit for your customers, or offering settlement discounts for prompt payment. There are two key types of Invoice Finance services:
Invoice Factoring (also known as debt factoring)
Factoring provides access to your expected cash payments by outsourcing your credit control and sales ledger to the factoring provider; freeing up your time as payments are collected from the customer on your behalf. With advances of up to 90% of the invoice value provided within 24 hours, the debt is collected and you will receive the balance (less any charges) once your customer pays.
Working in a similar way to invoice factoring, up to 90% of the invoice value is provided by the next working day. In this case, your business continues to manage the debt collection and credit control.
Both services can be provided on a disclosed or confidential basis.
To discuss your requirements further, simply complete the contact form and let us know. It doesn’t matter whether you’re a business or a private individual – we’re here to help!
Disclaimer: HENRY HOWARD FINANCE PLC Invoice Finance service is provided through finance partner, FRP Capital, the Finance, Insurance and Banking specialists.