Invoice Factoring Is A Credible Bank Overdraft Alternative
Invoice factoring – which is from the stable of invoice finance products show further growth across the European Union with total turnover for the industry in 2010 being €986bn representing an increase of over 17% when compared to the 2009 figures.
This robust growth has taken place in a general environment of low economic growth (only 1.8% across the EU 27) and demonstrates the importance of the factoring and commercial finance industry in funding and supporting the development of business, both domestic and international.
Admittedly this growth is against the back drop of Banks have less appetite for their traditional bank lending facilities such as overdrafts. However, this reluctance to lend is requiring Business Owners to look at the alternatives and furthermore Directors are seeing that invoice finance is a very credible alternative.
An Invoice Factoring facility could be an ideal funding solution for any business that sells products or services to another trading business.
- Fund Sales Invoices up to 90%.
- Track Sales – your funding grows inline with your sales growth.
- Flexible Facility – draw down as and when you need the additional working capital.
- Similar Interest Rate Costs to an overdraft.
- Available to New Start Businesses.
- Flexible Terms – No extended tie in contracts.
If you are interested in a Risk Free invoice finance quote click here.
The above Research: Five countries made up 80% of the total EU market share: United Kingdom, France, Italy, Germany and Spain. The level of factoring penetration in terms of GDP increased from 6.5% to 8.0%
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