- 0330 113 8133
- 07529 692234
- info@ukbfinance.co.uk
- 9 Little Park Street, Coventry, West Midlands, CV1 2UR
Many businesses understand invoice factoring but might be unaware of invoice discounting. Invoice discounting is the process by which a business invoices another business (B2B) for work they have completed.
Once they invoice out the invoice financier will advance typically up to 90% of the value of the invoice. The business will be responsible for collecting payment from the customer. They still administer credit control and commonly a business must upload an amount the invoice was for onto an online portal. Not having to send copy invoices to the finance company and retain credit control. Invoice discounting is reserved for the higher turnover level businesses with typically over 12 months of trading history and turnover levels in excess of £300,000.
Many businesses think of it as a short-term loan or cash advance against outstanding invoices with the security of the funding.
Invoice Discounting
There are benefits to each type of invoice finance facility depending on the requirements. The main benefits of invoice discounting are, that more control is kept by the business and can retain customer relations when collecting payments. Secondly, the workload is less for the business and when used correctly can really benefit cash flow.
Factoring
The benefits of factoring can be reduced workload in relation to credit control, as the invoice financier can collect the payments. Furthermore, factoring can be used to support SMEs across the UK with business growth and obtaining a positive cash-flow position. Especially for new start businesses that need access to commercial finance.
We take you through the funding journey to ensure you get the best commercial finance possible. Ensuring you get the funds you need to grow your business and boost cash flow.
Our team has done this thousands of times before and knows that it works for each and every client.
We take you through the funding journey to ensure you get the best commercial finance possible. Ensuring you get the funds you need to grow your business and boost cash flow.
Our team has done this thousands of times before and knows that it works for each and every client.
We are a credit broker not a lender. UK Business and finance solutions Limited , registered at 9 Little
Park Street, Coventry, West Midlands, CV1 2UR. Company Register number is 11005876 . We are registered with the ICO, ZA336227 and you can check via www.ico.org.uk. We will receive commissions that will vary depending on the lender, product, or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.
The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based within the UK.
If you wish to register a complaint please contact us at info@ukbfinance.co.uk or write to us at: 9 Little Park Street, Coventry, West
Midlands, CV1 2UR
Uk Business and Finance Ltd is a credit broker and not a lender. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: percentage of the amount you borrow. Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey.
