In a recent article published by UK Finance shows that activity in the invoice finance and asset-based lending sector has hit record levels, with advances up 13% year-on-year to just over £22bn, the highest advances figure ever recorded.
This means that sales supported by invoice finance and asset-based lending were a staggering £214bn for the first three quarters of 2017. The report found that clients who exported were “particularly strong,” with sales from these clients up 33% in the year-to-date.
Although, the report goes on to say, “There is an increasing understanding amongst businesses of how invoice finance and asset-based lending can support them as they grow”, this is often not the experience of Pinpoint Finance. We still continue to experience business owners and their advisers having a negative approach to such a funding option for their business. Invoice Finance can be an effective way to fund a growing business, releasing cash flow from existing debtors to aid growth or other ventures.
At Pinpoint Finance, we take time to explain how invoice finance really works, how it can benefit your business and eliminate many of the myths that surround the product. If you or a client are thinking about Invoice Finance for 2018, we would be delighted to hear from you. If you just need more information about the product and how it works or wish to review your existing arrangements, contact Keith Humphreys on 01904 866 100 and arrange an appointment.