• 23 May

    List of Pet Hates Regarding Invoice Finance

    We interviewed a sample of 100 SMEs and asked them to set aside any issues about cost and tell us what they disliked about invoice finance (factoring & invoice discounting) - their "pet hates". The purpose was to set out a list of issues that the individual providers might like to consider addressing. Whilst the list reflects their opinions and issues, it is clear that there are facilities on the market that address most of these issues however, most prospective clients don't know about them.

    Their answers were as follows:

    • Funding limits 20%
    • Audit 18%
    • Unapproved invoices 17%
    • Paperwork 13%
    • Personal guarantees 12%
    • Electronic payments taking 5 days 7%
    • Upsets some customers 5%
    • Time from invoice to funds 3%
    • Credit limits 3%
    • Lack of communication 2%

    By Glenn Blackman

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Examples of funders we work with:

igf
metro bank sme finance
pulse cashflow finance
berkeley
investeccapitalsolutions
acg