A recent study showed that successful business finance applications plunged over the first quarter of this year indicating that banks are pulling the plug on lending to SME’s across the UK.
This, along with, a majority (61 per cent) of small firms being impacted by late payment of invoices over the first quarter of this year means that UK SME’s are facing a cashflow crisis.
A quarter (26 per cent) say the propensity for late payment is growing – close to one in ten (7 per cent) experienced late payment for the first time in Q1 of this year.
SME’s across the UK are being advised to assess their financial needs and ensure how much they need to survive an economic downturn. Stephen Pegge of UK Finance “It is better to think ahead and act now to get a financial buffer to last the next year or two. That way, if you are asked to provide any additional information to support your application, you will have time to do so. And your business – and the financial position of your customers – will probably look in better shape.”
To discuss the funding options available to your business. Please do not hesitate to contact us on lynnew@regencyfactors.com and we can arrange contact via Facetime, Zoom or WhatsApp to discuss funding “Face to Face”
what is invoice finance? invoice finance for recruitment, invoice finance for dummies, invoice finance for new business, invoice finance for startups, invoice finance with recourse, invoice finance meaning, invoice finance for small business, factoring example, invoice finance, invoice finance, invoice finance UK, how many businesses use invoice finance, why use invoice finance, why invoice finance, what is invoice finance, invoice finance and factoring, invoice finance and asset based lending, invoice finance agreement, invoice finance advantages, invoice finance arrangement, invoice finance alternative funding, invoice finance for new business, invoice finance blog, invoice finance bad credit, invoice finance benefits, invoice finance case study, invoice debtor finance, export invoice finance, easy invoice finance limited, invoice finance facts, invoice finance flowchart, invoice finance companies manchester
what is invoice finance? invoice finance for recruitment, invoice finance for dummies, invoice finance for new business, invoice finance for startups, invoice finance with recourse, invoice finance meaning, invoice finance for small business, factoring example, invoice finance, invoice finance, invoice finance UK, how many businesses use invoice finance, why use invoice finance, why invoice finance, what is invoice finance, invoice finance and factoring, invoice finance and asset based lending, invoice finance agreement, invoice finance advantages, invoice finance arrangement, invoice finance alternative funding, invoice finance for new business, invoice finance blog, invoice finance bad credit, invoice finance benefits, invoice finance case study, invoice debtor finance, export invoice finance, easy invoice finance limited, invoice finance facts, invoice finance flowchart, invoice finance companies manchester