The Surging Popularity of Invoice Finance
Fiducia Commercial Network
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Unlock Growth Potential: Harness the Power of Invoice Finance for SMEs in Today's Economic Landscape
In an era where cash really is king for business sustainability and growth, SMEs must explore alternative funding avenues to take on new business opportunities, manage their cash flow and expand.
A funding tool adept at helping firms avoid making late payments, invoice finance is a vital lifeline for businesses looking to strengthen cash flow and fuel growth in the middle of economic uncertainty.
By accessing up to 90% of the value locked in customer invoices on the day that they issue them, businesses can bolster working capital, cover their fixed overheads and operating costs, and afford to quote for and take on new business opportunities where their costs will always be up front and well in advance of customers settling their invoices.
While not a new concept, invoice finance has stood the test of time, providing indispensable support to countless businesses over decades. By releasing working capital in unpaid invoices, this financial solution fills funding gaps in firms using the business that they have already done and not any additional security, leaving that free to be deployed if necessary for other purposes.
In the UK, invoice finance is a viable and cost effective alternative to conventional funding options such as bank loans and overdrafts, offering unparalleled flexibility and accessibility across diverse sectors, including manufacturing, wholesale, construction, recruitment, and professional services.
Forecasts indicate growth in take up of invoice finance throughout 2024 as SMEs look to stabilise their working capital and cash flow and grow even in the face of current economic headwinds.
With 32% of financial intermediaries suggesting invoice finance could be the most suitable choice for cash flow support this year, Fiducia Commercial Network’s broker members are well placed with access to a broad and diverse panel of invoice finance lenders and products to support clients, whatever challenges to operating and growth face them.
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