Has your invoice finance company asked you to move on?
At Funding Solutions we often speak to invoice finance clients who have been told by their existing lender that they no longer wish to fund them. This can be for a variety of reasons but typically the business owner is left feeling hurt and angry. If you have been paying good money for a service and working hard to run your business it can’t be great to hear you are no longer wanted as a client.
The reasons for being asked to find alternative funding can vary dramatically. Lenders can change their criteria, your business profile may have changed, in some instances facilities or covenants may have been breached or the lender may have had a bad experience with another client in your sector.
In short there is usually no need to panic.
There is nearly always an alternative lender that we can set up a facility with. In many instances we are able to structure a facility that releases more cash and in a lot of cases we can reduce fees. The end result is that you end up with a lender that genuinely wants your business, a facility that is cheaper and works better and you wish you had moved a long time before.
If you are looking for a new invoice finance provider contact Funding Solutions today on 0845 251 4040.