When you operate a business, there is always some stress involved and one of the most stressful situations is making sure that you have enough cash flow at all times. If you’re experiencing cash flow problems and are having problems getting your debtors to pay their bills, there is now a viable solution. Invoice finance is a process whereby companies take over your invoicing and lend you money based on what you’re scheduled to receive from your debtors. They make the process easy on your part because they take over the collection process itself and all you have to do is determine what you’re going to do with the money. Moreover, the money can be used for virtually anything including adding staff, renovating your building, or covering payroll, giving you some peace of mind because you’ll know that you are able to cover your bills for a while.
Making it Simple on Your Part
Cash flow finance, as it is sometimes called, provides you with up to 80% of the value of your invoices and the other 20% is made available when the debtor pays the invoice in full. Best of all, you don’t have to beg your customers for the money they owe you because the companies that provide these funds to you take over the task of collecting the funds that are owed to you. This method is a simple, fast way to get the working capital finance you need and the companies that provide this service work hard to make it as simple and convenient as possible on your part. At your first consultation, they go over all the details and answer all your questions, which means that before anything is signed, you’ll have the information you need to determine if this option is right for you.
Let Them Do the Hard Part
Getting the cash flow you need is simpler than you think, and the fees these companies charge are similar, and sometimes lower, than fees charged by a bank for overdraft protection. Furthermore, that fee is extremely low, usually less than five percent, and is based on the level of turnover that is provided. The entire process is fast, simple, and very inexpensive and because you are likely to be too busy to do this job yourself, it is good to know that there are companies that will. Let’s face it; on a day-to-day basis, you have a lot on your plate so you shouldn’t have to spend a lot of time worrying about your cash flow. With the invoice finance process, you won’t have to worry because it provides you with a way to get cash and enables you to move onto other things such as growing your business and making sure that you have the funds to make that happen.