No matter the industry a business is based in, or the current economic environment, there will always be unexpected pressures on businesses financially. At GRENKE we see the immense pressure being placed on the cash held within businesses.
Businesses are reaching the end of their 12-month interest free and payment free period that was offered under CBILS.
As the countdown begins and with the income potential not set to be fully unlocked until 21 June 2021 some businesses will have to consider some alternative funding solutions. 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 payment delays that could be the tipping point for your business.
Invoice finance will have a significant role to play throughout the pandemic recovery as revolving credit facilities could bring savings in comparison to other commercial funding solutions and will be a welcome addition to vital working capital. There is no tangible and beneficial revolving facilities on a par with invoice finance in terms of a proven ability to be flexible and support businesses in a fragile and recovering environment.
GRENKE offers modular products which enables us to support our clients every need. Whether new to invoice finance, or well established or looking at an exit strategy.
Couple of key benefits include:
- No additional fees for facility startup, renewal or audit – transparent pricing
- Dedicated account manager and collections team to support relationship
- Up to 90% advance of invoice value within 24 hours.
Get more information about a suitable factoring product for your business. We are in this together and with GRENKE’s support, we can support yout business through the post pandemic recovery.