Who can benefit from Invoice and Asset Finance?
Capital | Consultancy | Corporate
Managing your cashflow well is essential for running a successful business. If you have recently been granted a CBILS loan, you could be using it to access asset or invoice finance-based funding for your business.
If you have ever found yourself waiting to get paid for the work you have already done, goods that you have sold or you have to chase late payments from customers Invoice finance is a great funding option for you.
Invoice finance is good for sectors, such as manufacturing, engineering and construction who have customers on long paying terms or often are late with payments. These can create cashflow gaps, while you are waiting for these invoices to be paid. With invoice finance, you can also take on extra funding without accumulating any debt. You can access funds up to 95% of your invoice value allowing you to carry on with your business without any cash flow issues. For more information and applications for invoice finance click here.
On the other hand, Asset financing is great for businesses who are looking to make purchases. Asset financing allows businesses to attain a variety of machinery and equipment that can be utilised for the growth of the business. In the end, you could own the machinery, if you use hire purchasing without any hidden end payments.
By using Asset finance you will not lose a large amount of working capital. Asset finance also allows you to finance assets up to 95% of their value and spear the costs over 1 to 5 years so you can stay on top of your cashflow. As a plus, VAT is also usually reclaimable and repayment interest can be offset against profit. You can also take advantage of the seasonal payments if your business has peak sales times. For more information and application for asset finance click here.
All in all, both Invoice and Asset finance can help with growth within your business. Ravens Wood Capital has direct access to over 27 lenders who are currently offering the best rates for businesses in the United Kindom. This means that you can be confident that we have the widest choice available to meet your needs. Apply today!