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• 24 Feb

  Caravan Body Repair Invoice Finance

  

  Caravan body repair invoice finance was recently arranged by FundInvoice for one of our customers. Finance against vehicle body repairs works by releasing the full value of invoices to insurance companies (minus the fee) as soon as the invoice is raised for the work (normally for bodywork following a crash or accident). This eliminates the need to wait for the insurance company to pay.

  Improving Cash Flow

  Using this type of facility greatly improves cash flow. Outstanding, unpaid sales invoices become a thing of the past and cash is generated as soon as the work is invoiced. See our free guide for more tips about How To Improve Cash Flow.

  Also, please see another case study about motorhome repair funding.

  Caravan Body Repair Invoice Finance

  This type of work operates in a similar way to car body repairs, for which we regularly help seek funding. Following a crash, the repairs are sanctioned by an insurance company. The repairer undertakes the work (which is signed off) and then raises the invoice to the insurer. Eventually, the insurer will approve the invoice for payment, but this can take some time. This finance service eliminates that waiting period by releasing the cash immediately.

  Using Multiple Invoice Finance Companies

  With traditional forms of invoice financing, the funder will take on all the invoices raised by their customer. However, this is not the case with vehicle body repair financing. This operates on a "selective" basis. This means that the customer gets to choose the invoices that they want to submit to be purchased - they don't have to submit all their invoices to sell. In addition to controlling the cost, this can enable the customer to use more than one invoice finance company.

  Using multiple invoice finance companies was something that this customer wanted to try. They were already using a service that they advised us was no longer operating, so they wanted to try two different alternative funders. This will give them the chance to experience both services and choose the one that is the best. Normally, the use of multiple providers is not something that is allowed, but with this type of selective invoice funding, each transaction stands on its own. Please contact us on 03330 113622 if you want more support finding caravan body repair invoice finance.

  By Glenn Blackman