What is Manufacturing Invoice Finance in Birmingham?

You may be thinking “How does Manufacturing Invoice Finance in Birmingham work – and how can it be beneficial for my business? You simply sell your invoices, minus a small fee to an invoice financing company. The invoice finance company will carry out due diligence, and then advance up to 95% of the invoice, providing immediate cash flow for you to use for your Birmingham business needs. Whilst clawing back some of your free time as you don’t have to chase customer payments.

invoice factoring company

Key Features

Receive up to 95% of your sales invoice

With Invoice Finance in Birmingham, approval is quick and easy. In most cases you can get paid for your invoices in 24 hours

Improves personal wellbeing
Invoice Finance helps reduce payroll stress, giving you access to cash to meet weekly, or monthly payroll commitments.

Forward planning for success
Want to replenish stock? Invoice Finance Birmingham will mean no more waiting for your customers payments, allowing you to purchase supplies.

Supporting you and your business
The lender takes over the running of your credit control, a dedicated team of experienced professionals, who will manage your collections, reducing late payments and the risk of bad debts.

A manufacturing invoice financing company that grows with you
The last thing a growing business needs is to incur more debt. Invoice Finance Birmingham allows you to get the capital you need when you need it, and grows as your business grows, without takin on a loan.

Costs versus Benefits
When considering the cost of debt factoring, it is important to review the benefits invoice factoring provides to businesses. Remember to always consider your own business situation and goals.

business factoring

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How does Invoicing Financing Work?

Manufacturing businesses that are using invoice finance, do not have to wait for their customers to pay their invoices for them to pay suppliers, staff, and other overheads. Invoice Finance lenders will purchase your invoice and collect the payments from your customers. You do the work, sell the invoice, and typically get up to 95% of the invoice value immediately. Once they have received payment from your customer, they will send you the remaining balance, minus their fees and any other charges.

Asset based lending

Simple Guide:

1. You process the invoice to your clients
Provide your service or product, on your agreed terms.

2. Flexibility in the Invoices you sell
You can tailor your facility to gain funding from one invoice, multiple or your whole sales ledger. The Invoice Factoring Company will purchase the debt that has been agreed with you.

3. Receive up to 95% upfront
Most lenders will allow you to receive up to 95% of your invoice value

4. Cash Collection
The Invoice Finance company will manage credit control, and your customer pays the invoice factoring company directly

5. Receive final balance
Once payment has been received, the balance, minus and fees and charges will be made available to you.

Invoice Finance Costs

Manufacturing Invoice Finance for your Birmingham based business and the costs involved vary from business to business. It is important that you understand the Invoice Finance Costs associated with running an invoice financing facility.

Application / Commitment Cost

Some lenders will charge a fee to carry out due diligence, and some do not.

Service Fee

The Invoice Finance costs will include a Service Fee for the day to day administration of the facility charged as a percentage of the gross invoice value.

Is invoice finance the right solution for your Birmingham business?

Invoice finance is a viable funding solution for many business sectors including, Construction, Recruitment, Manufacturing and many more.

Business owners are great at making their product and providing their service. Cashflow will always be ‘king’, and with Invoice Finance Birmingham the pain, headache or worry about cash is taken away.

An invoice finance service (or debt factoring as some may call it) gives business owners, the opportunity to access cash from invoices but also the gift of time. The time you or your team spend managing your credit control. You can focus instead on achieving your business goals without the cashflow problems you were experiencing before invoice factoring.

Are you looking to unlock cash from your invoices? Manufacturing Invoice Finance Birmingham could the right funding solution for you.

Get in touch today, or call us on 01332 896 020.