Businesses need to respond quickly to the ever changing demands Covid-19 have created. At GRENKE we see the immense pressure being placed on business and their finances, especially when cash flow is limited, seasonal or reliant on consistent foot traffic.
The government have introduced support packages to many businesses facing increased costs and financial disruptions due to COVID-19. With the outlined government support, is there an allowance for your business? Is this enough to pay your bills, staff and other costs in the interim?
If the answer is a resounding no... Invoice Finance (factoring) may be the solution to give your company the flexibility and breathing space it needs.
What is Invoice Financing?
Invoice financing is a type of debtor finance where you sell your accounts receivable (invoices) for immediate cash.
Our factoring team are on hand to support businesses affected by COVID-19. We take on your invoices and the collection process (factoring receivables) and release the funds directly to you. Alleviating the pressure and removing the invoice delays that could be the tipping point for your business.
If there is no government funding package in place for your business, factoring could change your cash flow situation in a matter of 24 hours. This could give you the flexibility to respond to the ever changing business environment inflicted by COVID-19.
Get more information about a suitable factoring product for your business. We are in this together and with GRENKE’s support, we can make it through the turbulent times ahead.