Not a day goes by without more bad news
about the global downturn, and the harsh reality
for many SMEs is that they are facing one of the
toughest trading years on record.
So, with the effect of late payments, and the likelihood of one
of
your customers going into liquidation growing, the question is
‘What
havoc is this likely to have on your own cash flow?’
Whilst we cannot find customers for your products or services, we
can offer a simple strategy to help you avoid falling victim of this
recession:
1. Managing your business through troubled times
2. Invoice Finance and how it works
3. Why Close Invoice Finance?
4. Products and services
5. Bad Debt Protection
6. Credibility
7. Other companies in the Close Brothers Group
Click the links to find out more.
Why not talk to our team and find out how we can help you
Call us now on 0800 220 257
or request a call back
With banks reducing overdrafts and closing their doors to new lending, it’s easy
to understand why many SMEs are turning to alternative ways to fund their
businesses – and none better than Invoice Finance.
We believe the most sensible strategy for the SMEs, particularly in the current
climate, is the combined use of Invoice Finance allied with the security of bad
debt protection.
Whilst Invoice Finance will provide your business with the day-to-day working
capital it needs – and provide it responsibly, directly aligned with your sales
- it is bad debt protection that provides SMEs with the real reassurance they
need in these uncertain times; the reassurance to know that they are protected
from the impact bad debt can cause.
To find out more about Invoice Finance with bad debt protection
Call us now on 0800 220 257
or request a call back
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Invoice Finance, the generic term for factoring and invoice discounting, is a
straightforward and effective way of turning your invoices into immediate cash -
quickly and easily - providing funding directly in line with your sales.
As you raise each new invoice, the cash available to you goes up in equal
proportion, without any need to negotiate new overdraft levels or loan increases
with your bank manager.
Doesn’t this sound far more sensible than waiting 88 days for your money?
To find out more about Invoice Finance
Call us now on 0800 220 257
or request a call back
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Here are a few very good reasons why we feel you should choose Close Invoice
Finance as your finance partner.
- Part of the Close Brothers Group, a respected and reliable City merchant bank,
whose recent first half results, prudent lending strategy and strong capital
base place us “in a club of one”, according to The Times (11.03.09).
- We consistently achieve above 90% in independent customer satisfaction
surveys…and take pride in providing our customers with a level of service our
competitors’ can only dream of.
- Voted Best Factoring and Invoice Discounting Provider at the Business Moneyfacts Awards for the last four consecutive years, confirming us as the
leading ‘independent supplier of choice’. It is these high standards of
excellence, which earned us this position that we intend to sustain.
- Innovative products, which are at the core of our service.
IDeal™, Factoring,
and Bad Debt Protection are just some of the great products you can choose
from…
To find out more about Close Invoice Finance
Call us now on 0800 220 257
or request a call back
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Factoring
Factoring is a comprehensive funding and credit management facility directly
linked to your outstanding sales invoices.
Flexible levels of cash or working capital finance can be drawn down as and when
you need it, in line with the value of goods or services that you have invoiced.
Additionally, a comprehensive and expert sales ledger management service will
remove the burden of securing payment from debtors, giving you the freedom to
concentrate on the day to day running of your business.
Factoring is suited to most established businesses with UK sales, on normal
credit terms, up to a turnover of £30 million, looking for flexible extra
funding and specialist business expertise.
The benefits:
- No more cash flow headaches, or uncomfortable conversations with your bank
manager
- Allows you to concentrate on developing your own business
- Gives your customers the credit terms they expect, while you
enjoy ‘cash on delivery’ from your sales ledger
- Generates considerable savings in administration costs
- The flexibility that allows you to negotiate attractive supplier discounts
- Can improve your average customer payment period
To find out more about Factoring
Call us now on 0800 220 257
or request a call back
Invoice Discounting
Invoice Discounting is a comprehensive funding facility similar to factoring, in
that it is designed specifically to release the cash tied up in your sales
ledger. However, unlike factoring, it allows you to remain in full control of
your sales ledger, credit control and collection activities.
What’s more you have the option to keep our facilities confidential from your
customers if you wish.
Invoice Discounting is most suited to companies selling goods and services on
normal credit terms that have effective credit management operations in house
and have demonstrated reasonable profitability over a consistent period of time.
Why not check out how much funding you could release by using our
Invoice Finance Calculator.
The benefits:
- No more cash flow headaches, or uncomfortable conversations with your bank
manager
- Immediate access to increased funding as soon as you secure additional sales
- Extra security of a healthy cash flow can often enable you to negotiate
supplier discounts
- You retain complete responsibility and control of your sales ledger and
customer relationships
To find out more about Invoice Discounting
Call us now on 0800 220 257
or request a call back
IDeal™
IDeal™ is our unique award-winning‚ ‘bells and whistles’ invoice discounting solution –
the ultimate web-based software system that integrates seamlessly with most
accounting packages to provide real time account reconciliation.
Our extractor placed on your accounting system shares all your invoicing and
customer payment transactions with us in real time, meaning that the Close
accounts are always fully reconciled to yours, so we can release cash as soon as
you raise an invoice.
Also, because we can view your accounts in real time without having to wait
until the month end like all our competitors, we can take a more informed stance
towards risk. This typically results in clients of Close receiving up to 15%
higher funding levels than through conventional facilities.
The benefits:
- Reduced paper work with no need for invoice listings or lengthy month-end
reconciliations
- No more cash flow headaches or uncomfortable conversations with your bank
manager - you can draw down higher amounts of cash as your business grows
- Significant savings in administration costs
- Access to up to 15% more funding than offered by conventional providers
- Your cash flow can work for you, giving you the freedom and flexibility to
negotiate attractive supplier discounts
- You keep complete control of your sales ledger and all your customer
relationships
We also have a ‘protected’ version of IDeal™ which has all the above benefits,
plus 100% bad debt protection included as standard.
Why not check out how much funding you could release by using our
Invoice Finance Calculator.
To find out more about IDeal™ or the protected version of IDeal™
Call us now on 0800 220 257
or request a call back
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All our products, including our award-winning online invoice discounting
product, IDeal™ are offered with ‘Bad Debt Protection’
We cannot stress the importance of this service, because all too often, when a
company fails, there is a knock-on effect and other companies (to whom they owe
money) fail with them.
Bad Debt Protection removes this risk.
For an additional fee, we will provide you with a credit management service
and analyse your customers. Then, should any of your indemnified customers go into liquidation owing
you money, you can rest assured their invoices will be paid in full (or to the
indemnified level you have taken out on your policy).
Now we think bad debt protection is a precaution well worth taking! In fact, it
is a precaution we are thoroughly recommending to all our existing clients.
To find out more about Bad Debt Protection
Call us now on 0800 220 257
or request a call back
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The liquidity, strength and resilience of our parent company
Being part of the Close Brothers Group only increases our credibility; a FTSE
250 City merchant bank which, thanks to a prudent lending strategy and no
exposure to US sub prime debt has retained a strong capital base and solid
liquidity, even in today’s current climate.
To find out more about our credentials
Call us now on 0800 220 257
or request a call back
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If you are looking for additional, or alternative ways to fund your business and
we can’t help, then one of our sister companies within the Group probably can!
So visit www.closebrothers.co.uk for more information.
However, given the circumstances we are currently facing, the most appropriate
of our sister companies is likely to be Close Asset Finance who provide finance
for capital assets such as vehicles, engineering machinery and construction
equipment – or can even provide funding against your existing company assets.
To find out more about the Close Brothers Group
Call us now on 0800 220 257
or request a call back
Next Step - If you’d like a no obligation quote, or wish to discuss any of our products in more detail, please contact us on
0800 220 257 quoting ref. DOM05W
or to request a call back from one of our experienced sales team
please use our
Contact Form.
