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Manufacturing Finance
Manufacturing Finance
At Grow Funding we have arranged Invoice Finance facilities with many UK manufactures, it is the best financial solution that allows a large injection of cash flow fast. The Cash flow enables manufacturers to invest their money where they need it to be. Some buy new, much needed machinery and others invest it into additional staff and materials. Say goodbye to those invoice that have 30/60 and even 120 days to pay! And start receiving the money within 24 hours of sending out the invoice. If you are a large manufacture, turning over £100,000 + VAT per year and have your own credit control team, you can continue to use the same team. However, if you would like the lender to take control of this on your behalf, let them. They have an experienced credit control team awaiting to help. who knows this may even save you time and money?
Our current manufacturing clients have told us they have taken on larger jobs because they had the cash flow to allow that.
Some manufacturers have purchased new and additional machinery.
The best bit about using invoice finance, is you don’t need to secure it against property or other assets as it simply is a cash advanced solution. Invoice finance is a great flexible funding facility allowing you to receive up to four times more than a bank loan or overdraft. An optional funding solution for new and pre-owned machinery purchases is asset finance.
Want to know more? Contact Grow Funding today? Our friendly team is waiting to help you.
Other financial solutions that could be considered are our secured and unsecured business loans.
Asset finance is a type of lending that enables you to access business assets such as equipment, machinery and vehicles without having to buy them upfront. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender.
Business asset finance is typically attractive to businesses who want to put their growth plans into action but don’t necessarily have the ready cash, or business owners who would rather spread large costs over a longer period.
Short-term asset finance also enables businesses to remain competitive by making it easier for them to access the latest technology. Asset finance is a broad category that relates to valuable items in your business.
Here is one of our case studies of asset-based invoice finance –
Case Study - Feb - 2019
Invoice factoring for Essex based building company
This company had been awarded a large value contract with a London borough council to install new kitchens and bathrooms into their residential council properties. With limited funds in the bank to cover the cost of labour and materials, Grow Funding arranged a suitable Invoice factoring facility to allow the business to release cash tied up in their outstanding invoices. This means going forward at the point of them giving the invoice to the council they can factor the invoice to provide them with cash in the bank to cover their cash flow needs. An initial facility size of £165,000 was set up with view to this growing over time.
The Advantages:
• Credit insurance to protect you against bad debtors
• The funds are secured and valued against your assets
• Funds can be used for any business needs
• There is the possibility of being flexible in comparison to loans and overdrafts
Grow Funding ltd - 70 Goring Road - Goring by sea- Worthing - West Sussex - BN12 4AB
01903 660091
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