Payment terms of 30 days plus are becoming increasingly common, and this can put a strain on your businesses cashflow. Whether you are a one-person band or outsource your content creation, slow payers will restrict you from taking your own wage or paying your suppliers.
Factoring will allow you to immediately receive up to 90% of any or all your current and future invoices. By receiving this 90% advance you will have the ability to manage your cashflow effectively pay your own bills on time! Invoice Finance could also encourage you to expand your business as an improved cashflow will give you the confidence to grow.
This is how it works:
Many funders in the market will avoid funding staged payments or milestone payments. The reason for this is if something further down the line in the same project goes wrong, your customer may decide to withhold payment for previous works. However, with a clear invoicing process you still will be eligible! By speaking to a specialist like us we can help you structure your invoicing process and gather quotes to show you how invoice finance can benefit your cashflow.
