Daniel Bowsher, Author at Invoice Finance Connect

Bad Debt Protection https://invoicefinanceconnect.co.uk/wp-content/uploads/2018/03/bad-debt-protection.jpg 800 533 Invoice Finance Connect Invoice Finance Connect //invoicefinanceconnect.co.uk/wp-content/uploads/2016/03/Invoice-Finance-Connect-Logo-WORDS-1.png 25th February 2018 26th March 2018

Bad Debt Protection

HAVE YOU THOUGHT ABOUT PROTECTING YOUR SALES LEDGER?

There will always be the odd occasion where a payment doesn’t arrive on time no matter how strong your credit control policies are. This can be due to a number of reasons which are out of your control.

Bad debt cover offers businesses protection from the risk of bad debts and in turn offers a business owner peace of mind if the unfortunate event arrives where a debtor fails to pay or goes in to liquidation.

There are many different credit insurance options available which can be tailored to your business’s needs. Maybe you need protection against your entire debtor book, single debtors or key customers who have bad credit history or they may have placed an order which carries a high value.

International cover is also an option for companies who trade with overseas customers.

Bad debt protection can be bolted on to an existing invoice finance facility and is a welcome addition as it provides the lender with additional comfort when they review their risk.

If you feel that debtor protection could help your business and would like more information, please contact us on 01635 283089 or email info@invoicefinanceconnect.co.uk to discuss your options.

Alternative Business Finance https://invoicefinanceconnect.co.uk/wp-content/uploads/2018/03/alternative-business-finance.jpg 800 533 Invoice Finance Connect Invoice Finance Connect //invoicefinanceconnect.co.uk/wp-content/uploads/2016/03/Invoice-Finance-Connect-Logo-WORDS-1.png 31st January 2018 26th March 2018

Alternative Business Finance

There are many alternatives to a traditional business overdraft, but the most suitable alternative will depend upon what you actually want the funding for. Here are the different options that are available:

Invoice Finance

The mainstream products under the Invoice Finance umbrella are invoice discounting, invoice factoring and single invoice/single debtor finance. All of these facilities allow you to borrow against the invoices that are yet to be paid by your customers. Typically, lenders will advance up to 90% of the gross invoice value to you the day after the invoice is raised. This type of funding is more flexible than a bank overdraft as it grows in line with the growth achieved by the business.

Supply Chain Funding or Trade Finance

These products are similar in many ways, they allow you to access cash to pay suppliers. They can be an ideal solution for importers and wholesalers depending on when in your trade cycle you need to access cash. We can talk you through these options.

Supply chain funding is not as well known as other mainstream funding mechanisms, however it can work well for the right business. It is also an unsecured facility, rather than being debenture or director guarantee lead.

Asset Finance

Asset Finance is a great solution if you are looking at a capital expenditure. This product allows you to spread the cost of the purchase over the life of the asset. There are different asset finance options available:

Hire Purchase
Finance Lease
Operating Lease

We can discuss which option your business would benefit from the most.

Asset Refinance

This facility gives you the option to refinance an asset that is already owned by the business. This option can help inject cash into the business or to help reduce costs elsewhere.

Business Loans

There are a variety of Business Loans, some are secured loans and others are unsecured loans. There are numerous peer to peer loan providers who have a more efficient process compared to the high street banks, however the cost of funding is higher.

We can find the right funding solution for your business, please contact us on 01635 283089 or email us at info@invoicefinanceconnect.co.uk for more information.