The wrong invoice finance company

You can have a perfectly pleasant conversation and still end up with finance that doesn’t suit your business.

That’s something I want you to remember if you’re considering invoice finance.

The providers aren’t interchangeable. Your industry, your customers, how you invoice and how you want to access the money all matter.

Get the fit right and the facility can become a real asset. Get it wrong and something intended to make life easier can become another headache.

So look beyond the sales pitch.

How will it work day to day? What will it cost overall? What happens if a customer doesn’t pay? What security or personal guarantee are you being asked to give?

Any bad debt protection needs looking at properly too. Don’t assume it’s included or that it covers every unpaid invoice.

I arranged my first invoice finance case back in the ’90s. That’s a slightly alarming amount of time ago, but the experience and relationships built since then are useful when finding the right home for a business.

If you’re considering invoice finance, or wondering whether your current provider still suits you, give me a shout.

Let’s make sure the arrangement works as well in practice as it sounds in the meeting.

Mark Smillie
07710 466166