Single invoice finance can improve your cash flow and free up much-needed working capital by giving you up to 90% of the value of a single invoice – with the remainder paid, minus a small fee, as soon as payment is received from the customer. As a result, companies have access to these funds within days, rather than months – giving their business the finance that it needs to operate efficiently and grow steadily over time.
What is Single Invoice Finance?
Single Invoice Finance is an innovative addition to the alternative funding market. It works on the premise that small businesses often need access to short term cash without waiting 30-120 days for payment.
Single Invoice Finance gives businesses the power to quickly raise cash against any single invoice of their choosing, as frequently or infrequently as they would like, with no long term contractual obligation. The flexible, short term nature of this facility is particularly well suited to more seasonal business that may not generate the same amount of revenue all year round. Similarly, it works well for businesses that have one-off customers or generate large one-off orders.
Who can use Single Invoice Finance?
Single Invoice Finance can be used for most businesses that need to quickly raise cash.
It reassures business owners as it can be used ‘as and when’ without the hassle of completing time consuming paper work that may come with a contract. Should a business find themselves using single invoice finance increasingly often, it may be advisable to make a switch to a more long term invoice financing option , as this form of funding is slightly more expensive than a contractual invoice finance facility.
NGI Finance works with lenders who have been in the Sales Invoice Finance for many years, providing invoice finance services for all types of businesses and who help businesses boost cash flow and increase working capital.
How NGI helped a company ease their cash flow
We were referred to a London based marketing agency who required funding to complete a share purchase. Their main client was a global sports brand. The owner didn’t want to enter into a long term factoring facility or overdraft with expensive fees and debentures being registered against the business. NGI worked with a single invoice provider to raise £240,000 in 5 days, without any formal security being taken.
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