Flexible Recession Finance
In a recession a business can face reduced customer orders and customer failures which can put cash flow under pressure. If you already use an invoice finance facility such as factoring or invoice discounting it is wise to make sure that you are well placed with the sympathetic provider that will be prepared to be flexible if you suffer problems.
It is important to try and take action in advance to protect yourself against the risk of finding that the door is closed when you need help from your financier.
There are several aspects of an invoice financing facility on which you can seek flexibility from you provider:
- Prepayment level (also know as early payment level) - the percentage of the invoice value that you receive in advance may be enough for the present time but making a few additional percent available may make all the difference to you if things get difficult. Factors are likely to be much more flexible if you approach them for "in case of need" facilities before you need them.
- Concentration limits - these may be able to be relaxed to release further cash.
- Overall flexibility - different factors have different approaches to clients that have problems. We can tell you if you are with a provider that is likely to give you the level of flexibility that you need should you encounter problems.
- Pricing - by minimising the price of your facility you are reducing your outgoings if things get tough. Why not look around and check that your pricing is competitive within the market. We offer a free quotation search service with which you will have no obligation to do anything.
To make sure that you are in the right place with the maximum level of flexibility contact us for a free consultation:
Complete an: ONLINE QUOTATION SEARCH REQUEST
For more information about Factoring click here
For more information about Invoice Discounting click here
