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• 16 Feb

  Does Your Invoice Finance Company Go The Extra Mile For You

  

  Flexibility is something that clients often look for, so I wanted to highlight a recent case where one of the providers on our panel went beyond what would normally be expected to help one of our clients. Does your invoice finance company go the extra mile for you?

  Cables, Connectors & Testers

  The client was an importer of cables, connectors and testers for the telecoms and optic fibre sector. They were a new start business so needed funding to get their venture up and running and to support future growth. Invoice finance was an obvious fit.

  Advance Of Funds Before Invoices

  We had introduced our client to a small independent invoice finance company that were prepared to support startups. Normally, an invoice finance company will provide a prepayment against credit invoices as they are raised, providing they are raised after the goods have been delivered.

  In this case, the client needed to pay for the goods that they were importing, so the funder provided an advance of funds before the goods were even shipped. This enabled the client to get their business off the ground.

  This is not common practice within our sector, particularly for when dealing with a new start company, so it speaks to the flexibility of the financier to take such a risk to support their client. It is almost like providing a trade finance facility.

  Going The Extra Mile

  I wouldn't want readers to assume that this deal can be replicated for everyone else, but I though it was worthy of sharing as it demonstrates how some invoice finance companies are prepared to go the extra mile to help and support their clients. This is not support that would have been offered by most funders and if I were in the client's shoes, I would be very grateful for that type of support and faith in my business. If your invoice finance company isn't going the extra mile for you then perhaps it's time to have a look around and find an alternative funder that will offer more flexibility.

  By Glenn Blackman