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INVOICE
FINANCE

Is your business in need of a cash injection? Or do you and your staff spend your time chasing debts rather than increasing sales?  Invoice Finance could be the solution.

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Boss Asset Finance Invoice Finance

How does it work?

Invoice finance allows you to release cash that you have tied up in unpaid customer invoices and put it to good use working for you elsewhere in your business

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Types of Invoice Finance

Invoice Factoring

An Invoice Factoring deal could release up to 90% of your cash as soon as the invoices are raised, boosting your available cash flow immediately and releasing money for other uses. The factoring company then pursues the debt on your behalf professionally, which does not affect your business relationship with your client. Once payment is received, the remainder of your cash is released.

Advantages

  • Time Saving - Frees up valuable staff time for other tasks; no more chasing unpaid invoices!
  • Protects Relationships - Allowing an external company to enforce debts can improve relationships with your customers and speed up future invoice payments

Disadvantages

  • Costs – there are additional costs to the business by way of interest and charges which need to be recognised
  • Relationship – you need to be confident that the factoring company is courteous & diplomatic with your customers and advises you of all issues in a timely & efficient manner

Invoice Discounting

Invoice discounting works similarly to factoring in that up to 90% of the value of your invoices will be released immediately after they are raised. However, with discounting, the responsibility for collecting payments from your customers remains with you, and it is not done externally. This means no one is aware of your invoice finance arrangements, and you retain that relationship with your customer.

Advantages

  • Confidentiality- Keeps your finance arrangements private as debt collection methods remain the same as always, and no one is aware of the change.
  • Maintains Relationships - Some companies prefer the personal touch when collecting payments from their customers as it enables them to keep a close relationship and regular contact.

Disadvantages

  • Credit Terms – if you fail to collect debts within the agreed periods, the finance company may seek to recover the advance made on the debt.
  • Excess Dependency – too much reliance on Invoice Discounting can cause businesses to have reduced focus on their Credit Control procedures

WHAT OUR CLIENTS SAY

"We have used Trevor Jacobs from Boss Asset Finance for over 12 months. We have always found him helpful and professional and have no hesitation in recommending both himself and Boss Asset Finance to anybody."



Boss Asset Finance Partners Afford
Tony Dobson
Director, Afford Rent a Car
"We were recommended to use Boss Asset Finance when we first bought some welfare cabins from Boss Cabins. We dealt with Trevor Jacobs who offered a competitive rate. Since then we have used them many times and we are delighted with the service."


Boss Asset Finance Partners Welfare
Ryan Gratton
Director, Welfare Vans4Less
"When we required sound, friendly financial advice and support, the team at Boss Asset Finance provided a detailed and helpful service as well as securing a great finance deal for our new film production vehicle. This came at a time during COVID when we needed the right kind of professional support and service."
Boss Asset Finance Partners DCT8
David Keers-Trafford
Director, DCT8 Ltd

CHECK OUT OUR OTHER FINANCE OPTIONS

CONTACT US

We would love to hear from you. Find out if our specialised team can help your business with a bespoke finance solution to suit your exact needs. Give us a call, drop us an email or fill in the form below and we’ll get straight back to you.

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Telephone: 03300 948588

E-mail: info@bossassetfinance.co.uk

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OPENING HOURS

8am to 5pm, Monday to Friday
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Regulatory Disclosure

Boss Asset Finance Ltd (FRN 831485) is an Appointed Representative of Consumer Credit Compliance Limited who are authorised and regulated by the Financial Conduct Authority (FRN 631736).

The permissions of Consumer Credit Compliance Limited as a Principal firm allow Boss Asset Finance Ltd to undertake Credit Broking. Boss Asset Finance Ltd act as a credit broker not a lender and we may be paid a fee based on the total amount of credit provided, calculated as a percentage of the balance financed. You will not pay more as a result of our commission arrangements.

  • Boss Asset Finance Ltd
    BCS House, Pinfold Road,
    Bourne PE10 9HT
  • Company Reg No: 11687983
  • 03300 948588
  • info@bossassetfinance.co.uk
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