Improve your cash flow with Touch Financial
Your unpaid invoices can be a valuable source of extra cash for your business. Invoice finance is a popular and flexible method of improving cash flow, suitable for firms of almost any size and at any stage, from start-up to being long-established.
To help Prompt Payer members get better access to free invoice finance advice and support, we've partnered with award-winning Touch Financial, the UK's largest invoice finance broker. Wherever you are in the UK, you're just a phone call away from Touch Financial's team of experts.
From their offices in the London Docklands financial district, Touch Financial can also help you with other measures to protect your business cash flow, including import and export finance and asset based lending.
How invoice factoring works
Invoice factoring improves both your cash flow and your credit control, allowing you to focus on running and growing your business.
It works like this:
1. You send an invoice to your customer, giving them credit terms.
2. Your invoice factoring funder pays you up to 90% of the invoice, often within 24 hours.
3. The funder takes responsibility for credit control for all the invoices they have paid you an advance against, including sending statements and other payment reminders.
4. Your customer pays the invoice to the funder.
5. The funder passes on the unpaid balance to you, after deducting their fees.
Because every business is different, no two invoice factoring arrangements are the same. That's why it's important to get advice from the experts at Touch Financial. Their years of experience in helping firms find the right financial solution means that they have the knowledge and contacts to help you.
How invoice discounting works
Invoice discounting can be the right solution for established businesses with robust credit control procedures, or who want to operate the facility without their customers being aware of it.
This is how invoice discounting works:
1. You send an invoice to your customer, with credit terms.
2. Your invoice discounting funder advances up to 90% of the invoice, often within 24 hours.
3. At the end of the agreed credit period, your customer pays their invoice in full.
4. The funder passes on the unpaid balance to you, after deducting their fees.
As with invoice factoring, you can choose between a recourse and a non-recourse finance agreement. A non-recourse facility includes credit insurance which further protects your cash flow, as you will not have to repay the funder should your customer be unable to settle their invoice.
Who can use invoice finance?
Invoice factoring and Invoice discounting are flexible cash flow solutions for firms who sell to other businesses on credit terms. Invoice finance can work for you whether your turnover is £50k or £100m, and it’s used by both new businesses and firms with a long trading history.
Every year, Touch Financial helps hundreds of business raise the finance they need to grow and succeed. You can benefit from their expertise, starting with a no obligation telephone consultation with one of their experts. Why not pick up the phone and give them a call on 0845 388 9725?
Or get an online quote for invoice factoring or invoice discounting right now. www.touchfinancial.co.uk