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• 15 Feb

  UK Cashflow Services Alternatives For Car Body Repairers

  

  Repairers of car bodies often turn to invoice finance to bridge the gap between completing car crash repairs and getting paid by the insurance company. We have recently received a few enquiries that were looking for UK Cashflow Services alternatives.

  We have been able to point these companies in the direction of alternative invoice finance companies that deal with car repair body shops.

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  UK Cashflow Services Alternatives

  We have not been able to confirm the reasons why we have had a number of enquiries from customers that were previously dealing with UK Cashflow Services, however, we are active within the car crash repair sector so we have been pleased to help. Therefore, we have been able to assist them by introducing them to new funders that specialise in the sector.

  Car Crash Body Repair Invoices To Insurance Companies

  There are only a small number of UK specialists in funding car crash body repair invoices. Typically, garages, motor factors and body shops are raising invoices to insurance companies, which tend to be eligible debtors. The issue for the repairer is that there can be a long gap between completing the repair and getting payment from the insurer.

  Funding The Credit Gap

  This is where receivables finance comes in. It releases money against those invoices as soon as they are raised. This can dramatically improve the cash flow of the garage or shop.

  The way that receivables finance works within the sector is as follows. The funder will provide 100% against the value of the invoice, less a small fee for using the service. This means there is no waiting for residual payments once invoices are paid. The shop sells the invoice outright.

  This method of operation is slightly different from that of mainstream financiers, hence there tend to be specialists that deal with funding the car body repair sector. Call 03330 113622 if you need UK Cashflow Services alternatives.

  By Glenn Blackman