Comparison Between Sources Of Funding Support
Most businesses get funding help, about which invoice finance provider to use, from their bank or their accountant. However, this can be very limited, and far from independent in some cases. We have put together the following comparison of sources of funding support to show you how these options compare with our support service at FundInvoice. This comparison draws on our accountants research where we interviewed over 70 accountants about their connections with invoice financiers and their approach to introducing clients to funders.
Sources of Funding Advice
|
|
BANKS |
ACCOUNTANTS |
 |
| INDEPENDENT HELP? | No - they offer their own products only. |
No, our research suggests that accountants deal with just 2 invoice finance companies on average. |
Yes, access to the entire invoice finance market - completely independent. |
| HOW DO THEY CHOOSE PROVIDERS? |
Offer their own products only. |
Offer the products of the limited number of options they have available. |
Have conducted service quality research comparisons & mystery shopper pricing comparisons. |
| CHEAPEST PRICING? | Offer their own products which can be well priced. |
Pricing they can access will be driven by which providers they have connections to. |
Cheapest pricing can be found by a quote search across the market. |
| FLEXIBLE RISK APPROACH? |
Driven by their own risk policy. |
Driven by the risk appetite of the providers that they deal with. |
Access to the entire market means that options can be found even for high risk customers. |
| ACCESS TO SPECIAL OFFERS? |
Only their own. | Only those from the providers they deal with. |
Full access to special offers across the market. |
| COST TO HELP? | Normally free. | May be included within annual charges but could be billed in some cases. |
Free support service. |
