Beacon Finance Blog
Most invoice finance companies will insist that you put all of your customers invoices through them, therefore even if you do not want to borrow against them you will pay a service fee. Beacon Finance have a number of lenders that are willing to allow you to pick and choose which of your customers you..
A question often posed to me is which is better for a business, an overdraft or invoice finance ? Despite what I read from others I have strong views on this and firmly believe there is no definitive answer. However, here’s my thoughts: The advantages of an overdraft:
For businesses with sales under £500,000 we always check to see whether we can offer a funding package where all the fees are bundled into a fixed percentage amount. We have had feedback multiple times from businesses that feel they have been overcharged and that they have encountered hidden fees..
Scaffolding is a sector many invoice factoring companies shy away from for the same reasons as other construction industries. Most lenders don’t like to work with businesses making application for payments or contracts with liquidated damages clauses but at Beacon Finance we can assist..
A common question I am asked is ‘Am I eligible for invoice finance?’ This is not as simple as ‘would I qualify for an overdraft’ but I’ll try explaining simply which businesses are more likely to be able to access this type of funding and what industries are best suited.
Historically it has been notoriously difficult to obtain invoice finance if you work in the construction sector. Lenders are not keen to take on contractual debt as in the event they have to collect the invoices during an insolvency process it can be complex and time consuming for them.