Enable Finance announced the launch of their Invoice Finance Service for UK businesses. Located in Sheffield, South Yorkshire, Enable Finance are Licensed Finance and Credit Brokers who provide a range of business financial services.
For further information on how invoice finance could work for your business click on the following link to learn more.
In a fast-paced and rapidly changing business world, and with uncertainty over the commercial impact of the UK exiting from the European Union (‘Brexit’), business owners often feel stretched and stressed. Accessing invoice funds owing and managing cashflow better is one way that a business owner can ease that stress.
Invoice Finance is a way for a business to improve cash flow with short-term borrowing secured against the funds owing to them on sales invoices. With the launch of the Invoice Finance Service, Enable Finance state that up to 95% of each invoice amount is released from the day it is issued.
Other potential benefits to UK businesses are: credit control and collections are outsourced, it is a revolving credit facility, available for companies who trade internationally, and it can include bad debt protection and credit insurance.
With the launch of the Invoice Finance Service, Enable Finance explained that both invoice factoring and discounting is covered, and it involves an invoice factoring company managing the sales ledger and providing credit control and collection services in relation to outstanding debts.
The business sends all invoices to the factoring company who advance most of the funds back to the business, and collect directly from customers to recoup the funds advanced, less a service charge, which can be between 0.15% and 2% of sales revenue, depending on the services provided and size of turnover.
The 31st of January 2020 will see Brexit finally happen and the impact of any changes will start to be realised, now is a good time to think about how your cash flow will stand up. Enable Finance states that ‘cash is still king’ when it comes to operating a successful business and with the launch of this service, UK businesses can ‘unlock’ more funds to build their business in these uncertain times.
Click on the URL above to find out more about this Invoice Finance Service for UK businesses.
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