Get Quick Funds with Invoice Finance Services

Convert your account receivables into cash!

Invoice financing services are fast becoming a popular choice for small and medium businesses to acquire the much-needed funds. Invoice finance service allow small businesses to acquire loans based on outstanding invoices as collateral. Businesses can get up to 95% of the value of their invoice within 24 hours. Contact our invoice financing company and get quick cash flows to keep your business going.

What Is Invoice Financing?

The term invoice financing is pretty much self-explanatory. This is a type of financial instrument that lets small businesses and SMEs raise money based on their outstanding invoices. These businesses can sell their pending invoices to an invoice financing company. The company will provide the business with a sum that is lower than the actual cash value of the invoice. 

An invoice finance service provider usually advances 90% of the invoice’s value. Once the customer makes the payment, the company will release the remaining amount, minus their fees and any extra charges. Invoice finance services not only provide a business with the necessary cash flows but also relieve them of the headache of collecting customer payments.

invoice financing services - Growth Finance

An invoice financing company also undertakes the responsibility of maintaining the entire sales ledger, sending reminders to the customers and collecting payments from them. There are two major types of invoice financing services.

  • Invoice Factoring

Invoice factoring is a popular small business invoice finance method. A business hands over its entire sales ledger to a factor, who, on behalf of the business owner, collects payment from the customers. The factor will lend up to 90% of the value of the invoice. After the payment has been collected from the customers, the factor will pay the remaining value after deducting their charges.

  • Invoice Discounting

Invoice discounting works similarly to invoice financing services. The only difference is that here the business is in control of collecting customer payments. It does not involve any third parties to collect its account receivables.

How Does Invoice Finance Work?

  • Invoice Your Clients

Sell products or services to your customers. Issue them invoices with 30 or 90-day payment terms.

  • Choose The Invoice You Want To Sell

After you generate multiple invoices, you can decide whether to sell a single invoice, multiple invoices, or the entire sales ledger. The invoice financing business provider will buy them.

  • Receive Up To 90% Upfront

Receive up to 90% of the value of your account receivable within 24 hours.

  • Payment By The Customer

Once the payments become due, the customers will pay the invoice finance services provider. Either you can retain control of collecting payments or delegate it to the invoice financing business.

  • Receive The Remaining Balance

The invoice finance service provider will pay the remaining sum, minus the agreed fees.

Why Get Small Business Invoice Finance?

  • Improved Cash Flow

Businesses can receive funds quickly by selling their outstanding invoices, allowing them to cover various expenses.

  • Quick Funds

Businesses can access funds within 24 hours, compared to the longer processing times associated with conventional loans.

  • Maintain Control

Invoice financing often allows businesses to maintain control over their accounts receivable and customer relationships.

  • Creditworthiness Not a Barrier:

Approval for invoice financing is often based on the creditworthiness of the invoiced customers rather than the business seeking financing.

Partner With Growth-Finance For A Small Business Invoice Finance

Growth Finance is proud to support SMEs in the UK with our invoice financing business. We are also a prominent hire purchase finance company in the UK. We provide a hassle-free and quick process for buying your accounts receivable and advancing cash on their behalf. Connect with us today to get up to 90% value of your invoices and an expert service to collect accounts receivable.

For more queries related to our invoice finance services, connect with us today!

Frequently Asked Questions

Invoice financing, also known as accounts receivable financing, is a financial solution that allows businesses to convert their outstanding invoices into immediate cash. It provides a quick and flexible way to improve cash flow by receiving funds before customers pay their invoices.
Invoice financing is beneficial for businesses of various sizes and industries. It is particularly helpful for those with a steady stream of invoiced sales, such as B2B companies. Startups, small businesses, and growing enterprises can all use invoice financing to manage cash flow effectively.
The time it takes to receive funds can vary, but invoice financing generally offers a faster funding option compared to traditional loans. Depending on the provider and the specific terms, businesses can often access funds within a few days of submitting their invoices.
Yes, in many cases, businesses have the flexibility to choose which invoices to finance. This allows them to tailor the financing arrangement based on their immediate cash flow needs.
It depends on the type of invoice financing. Invoice discounting is typically confidential, meaning your customers may not be aware of the financing arrangement. Invoice factoring, on the other hand, may involve the financing company collecting payments directly from your customers.