Here at Calverton Finance, we know all too well the damaging effects late paying customers have on SMEs.
Fact: Last year, the average payment took over 57 days to be made.
Like a deadly virus, they sap out all the cashflow and working capital from a business, leaving it to shrivel up and, at worse die.
Fact: Over 1,000 businesses last year went into insolvency as a direct result of late payers! Yet again, we hear in the press the destructive impact customers who pay late have on businesses; we reported on this over a year ago.
Fact: 25% of SMEs are owed over £40k
SMEs are the backbone of the UK economy. It’s vital they are supported and respected in order to grow and sustain a huge part of the country’s financial system. One way of doing this is through cashflow management solutions, such as invoice finance, also known as invoice factoring.
FACT: Businesses with our invoice finance grew quicker than those without financing!
That’s why, over 44,000 SMEs use invoice finance. This is the most popular form of alternative finance in the UK, and sees companies, such as yours, get paid immediately on their issued invoices.
Our Invoice Finance Process
- Each issued invoice is paid – up to 90% of its value – within 24 hours (balance paid after invoice payment)
- Credit control is managed by the invoice finance provider, leaving businesses to concentrate on their own operations, and without the need to employ dedicated personnel. It really is that simple
- Don’t want your customers to know your finance arrangements? Choose confidential invoice discounting
- Only have periodic invoices to factor? Choose selective invoice finance
What’s more, there are no hoops to jump through. You don’t need secured assets. It’s jargon free. And takes just days to set up.
To grow your business, to improve turnover with financial stability, call our expert team today on 01908 268888 or go online and see, in less than 5 minutes, your In Principal Approval.