Why Use An Invoice Finance Broker?
Using a reputable invoice finance broker should mean that you get the best possible pricing on a properly structured invoice finance facility.
Invoice finance is quite unusual when compared to other finance facilities. The offerings from different providers can differ dramatically both in terms of pricing and in terms of how much cash they generate.
As invoice finance brokers we are often asked “which is the best invoice finance company?” or “which is the cheapest?” There is no simple answer to those questions. It all depends on the unique requirement and characteristics of your business.
As invoice finance companies are all sales focussed many of them will claim to be the best and most suited to your requirement. This noise can just become confusing and you may end up signing with the best sales person rather than the business that is truly best placed to meet your needs.
In view of this a good invoice finance broker should aim to understand your business, what it does, how you raise invoices, who your customers are and what your funding requirement is. Then, by using know ledge of the invoice finance market they should be able to match you to suitable lenders within the market to meet your needs.
Both the structure of the facility should be considered and also the pricing.
With regards to structure things such as prepayment levels, overall facility limit, concentration limits, and export caps need consideration. We will do this for you.
When looking at pricing you need to look beyond headline rates and focus on total costs. We will do this for you.
Another really important consideration is personal security. What are the directors required to provide and what will trigger a call on that security. This will differ from lender to lender. We can explain this to you.
We believe in making life simple for clients. That is important to us. We don’t baffle people with buzzwords or jargon. When we started Funding Solutions in 2006 we created a strapline, “Making Business Finance Simple”. All good professional make their clients life simple and when you are considering using an invoice finance broker they same applies.
Our business grows on client recommendations and our Feefo reviews speak volumes about how we work. There is no hard sell from us. Just honest advice so that you can make an informed decision.