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• 18 Aug

  Defining Who Can Use Invoice Finance

  Qualification criteria are important to understand when you are seeking funding. This is a reminder of who can meet the acceptance criteria to use invoice finance. There is a form of receivables funding to suit just about every type of business.

  Industry Sectors And Trades

  Pretty much any industry sector has a form of receivables finance available.

  Important Trades For The Use Of Invoice Finance

  Certain sectors commonly use these products, these include the following important trade sectors:

  • Services - providers of services rather than products such as recruitment (which is a significant sector for this type of finance in itself)
  • Manufacturing - manufacturers that are creating products
  • Distribution - companies distributing products
  • Transportation - this can include haulage and courier-type services
  • Construction - trade related to the building sector
  • Retail - sales to individuals whilst not eligible for invoice finance often receive finance against their card sales
  • Other - many other sectors are also eligible

  So you will see that just about every sector is covered.

  Sector Specialists

  In addition to standard invoice finance services which deal with the majority of the above sectors, there is specialist construction finance for funding against either invoices or applications for payment (payment applications), and specialist retail finance which provides funding based on (and repaid via) your credit card receipts.

  One of the most common is payroll finance for recruiters.

  Sizes Of Business

  Similarly, there is no limitation on the size of the company that can qualify. Selective invoice finance (where you choose invoices to have funded) normally comes with no minimums whatsoever, so even the smallest companies can use it. Some funders will look at the largest companies - the biggest we have looked at was a £250M turnover organisation. There are some users of these services turning over more than £100M per annum.

  Additional Help

  If you want to see the type of funding that would suit your business, and to understand the costs please call us on 03330 113622 to discuss your requirements.

  By Glenn Blackman