Invoice Financing for Engineering - Get Funding Now
Invoice financing is an effective solution allowing engineering SMEs to enhance cash flow by borrowing against issued invoices. It is particularly beneficial when timely payments from clients are unpredictable. By utilising invoice financing, these businesses can tap into the value of pending invoices ensuring smooth operations and facilitating growth.
- Quick and easy application process
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of Invoice Financing for Engineering?
The key benefits of invoice financing include accelerated cash flow, balanced debt-free finances, and the ability to grow without waiting for client payments. SMEs typically can access from £5,000 to £5 million with decisions made rapidly, often within 24 to 48 hours. Asset finance can also be an advantageous supplement for acquiring needed equipment, supporting expansion.
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Providers
What are the different types of Invoice Financing for Engineering?
Invoice Factoring
Invoice factoring suits businesses with B2B invoices and at least £50,000 turnover. Available amounts range from £10,000 to £500,000. Typical lending terms span from 1 to 12 months. Learn about invoice factoring.
Invoice Discounting
Invoice discounting is for established firms with robust credit controls. Loans here can extend from £50,000 to £1 million. Terms are set from 1 to 12 months. Discover more.
Selective Invoice Finance
Selective invoice finance assists firms needing funding for specific invoices. Loan amounts cover £5,000 to £300,000 with flexible terms up to 3 months. Find out how.
What is Invoice Financing for Engineering?
Application Process & Decision Timescales
Applying for invoice financing involves sharing business and client details, alongside your financial history. Decisions are usually made within 48 hours, post which funds are available in less than 24 hours. Explore how to apply effectively.
Regulatory and Compliance Requirements
Invoice finance providers must comply with FCA regulations, ensuring operational transparency and proper disclosures. It's crucial for customers to engage with FCA-authorized providers. Discover regulatory details on our page.
Borrowing Capacity and Rate Considerations
With borrowing capacities ranging from £5,000 to £5 million, SMEs have flexible options. Rates for invoice factoring span 1% to 5% annum, while discounting starts at 0.25% above base. Our finance calculator can help project potential costs.
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