Close Invoice Finance has just confirmed that it is closing its Stockport office and relocating to Manchester.
The new office will be at 80 Morley Street Manchester. M2 3FX
Thursday, 26 November 2009
Tuesday, 24 November 2009
Close Invoice Finance To Advise Accountants
Invoice finance provider, Close Invoice Finance, has signed a three-year partnership agreement with the Institute of Chartered Accountants in England
Following a competitive two way pitch, the ICAEW chose Close Invoice Finance as their exclusive preferred supplier of invoice discounting and factoring services.
Close Invoice Finance will advise the Institute’s 132,000 members on next generation technology in invoice discounting, ways to mitigate business risk, and most importantly, securing funding in a challenging economic climate.
The partnership reflects a solid joint commitment to providing a reliable source of funding for SMEs at a time when traditional high street banks are making it increasingly difficult.
Monday, 23 November 2009
Santander Aquires Invoice Finance Company
Santander has announced it has purchased Liqiudity, a specialist factoring and invoice discounting provider. This acquisition adds to the range of services on the market through the bank’s twenty regional company banking centres, and offers a bespoke service, which complements Santander’s existing product offerings.
Steve Pateman, head of Santander Corporate and Industrial Banking said: “This is often another demonstration of Santander’s ambition to become the bank of choice for businesses. Liquidity could be a robust specialist business and this acquisition enables us to accelerate our plans to supply factoring and invoice discounting services to any or all UK clients. An instantaneous priority for the bank is to recruit experienced trade specialists, in order to increase the sturdy regional focus Liquidity achieved to the rest of the UK.
Cashflow is key for any business and has become increasingly necessary given the current economic environment. By broadening the range of services, that aid the cashflow desires of companies we will be ready to supply additional support to both existing and new customers.
Stay ahead of the game with news and comment from Enable Invoice Finance
Steve Pateman, head of Santander Corporate and Industrial Banking said: “This is often another demonstration of Santander’s ambition to become the bank of choice for businesses. Liquidity could be a robust specialist business and this acquisition enables us to accelerate our plans to supply factoring and invoice discounting services to any or all UK clients. An instantaneous priority for the bank is to recruit experienced trade specialists, in order to increase the sturdy regional focus Liquidity achieved to the rest of the UK.
Cashflow is key for any business and has become increasingly necessary given the current economic environment. By broadening the range of services, that aid the cashflow desires of companies we will be ready to supply additional support to both existing and new customers.
Stay ahead of the game with news and comment from Enable Invoice Finance
Wednesday, 18 November 2009
Absolute Invoice Finance, was Cattles, Has Been Taken Over By Aldermore Bank plc
Absolute Invoice Finance Limited has transferred to Aldermore Bank PLC, creating an invoice finance division for the bank that will trade as Absolute Invoice Finance.
Aldermore Bank PLC already provides other forms of asset based finance facilities to small and medium sized businesses so the transaction will mean your clients will gain access to a wider range of products from one trusted funder.
Aldermore is the new name in British banking, providing specialist financial solutions to savers and small to medium sized enterprises (SMEs) throughout the UK. It was borne out of the merger of Ruffler Bank PLC and Base Commercial Mortgages Ltd in May 2009. Aldermore is the first British bank to be wholly owned by a private equity firm, AnaCap Financial Partners LLP.
The transaction will give both companies tremendous advantages in the market. Absolute will benefit from access to a strong, guaranteed funding line enabling the company to finance a broader range of businesses and market a wider range of services to new and existing clients.
We will continue to trade as Absolute Invoice Finance, offering the same high standards of service we are synonymous with and I will remain your main point of contact.
Aldermore Bank PLC already provides other forms of asset based finance facilities to small and medium sized businesses so the transaction will mean your clients will gain access to a wider range of products from one trusted funder.
Aldermore is the new name in British banking, providing specialist financial solutions to savers and small to medium sized enterprises (SMEs) throughout the UK. It was borne out of the merger of Ruffler Bank PLC and Base Commercial Mortgages Ltd in May 2009. Aldermore is the first British bank to be wholly owned by a private equity firm, AnaCap Financial Partners LLP.
The transaction will give both companies tremendous advantages in the market. Absolute will benefit from access to a strong, guaranteed funding line enabling the company to finance a broader range of businesses and market a wider range of services to new and existing clients.
We will continue to trade as Absolute Invoice Finance, offering the same high standards of service we are synonymous with and I will remain your main point of contact.
Friday, 13 November 2009
Thursday, 12 November 2009
Invoice Finance Offers UK Business Cash Flow Solutions
With lack of working capital as a key factor in the majority of business failures, leading independent invoice finance broker Enable Finance Ltd is urging small businesses to address their finances now to avoid becoming another statistic.
Despite insolvency experts predicting a wave of business failures next year as evidence mounts that the UK is at the midpoint of a W shaped recession in which insolvencies peak after GDP stops shrinking, Enable Business Finance believes there are many options available to firms that could prevent them entering a Company Voluntary Arrangement (CVA) or going into liquidation.
Despite well intentioned efforts by the Government to increase the funding available to small and medium sized businesses including prop up measures such as tax deferments in their Time To Pay initiative. The fact of the matter is that while they may provide a temporary buffer against the storm, they are unlikely to be the lifeline that many need in order to survive. As such tax deferments are merely just postponing a cash flow problem today for tomorrow.
Small businesses need to take a closer look at their cash flow and review the funding options available rather than go down the road of no return. Invoice finance and other funding options such as asset based factoring or confidential invoice discounting can provide a long term viable solution to help businesses improve cash flow and thus their chances of survival through what are very challenging and tough economic trading conditions.
Invoice Finance facilities work by releasing cash tied up in your debtor ledger (e.g. your unpaid invoices) enabling businesses to meet those vital creditor payments such as PAYE and taxes, not to mention the more obvious supplier payments and of course, sufficient funds to meet salary and wage roll.
The Finance & Leasing Association (FLA) has recently announced that access to credit is still tight for most borrowers, and it’s clear that businesses need access to fast, flexible and effective cash flow solutions that positively impact upon the firm’s liquidity. Thus ensuring they are still trading and able to take advantage of the economic upturn when it comes.
Small to Medium sized business owners will find that the Asset based Lending industry has an open minded approach to funding their business with solutions such as invoice finance. Unlike traditional banks, which can be inflexible and often take a one size fits all approach, alternative funding providers typically take a much more in-depth view of a business and take into account the entire financial picture when making a funding decision.
The fact that the UK economy is not out of the woods yet; underlined by comments by the Governor of the Bank of England “The UK economy has "only just started" along its road to economic recovery” is further justification that business owners need to be adequately funded. Furthermore the Bank of England in its latest inflation report indicated it would be late 2011 before the UK economy recovered to the level it was at before the recession. This again further highlights the time scales involved.
Enable Finance Ltd are eager to talk with business owners and Directors about which alternative sources of funding are available to them and their specific business. It should also be worth noting that even if a Company is facing insolvency proceedings or have been threatened with a winding up petition. The specialist business finance advisors may still have a solution and indeed help clear up the impending creditor pressure.
Despite insolvency experts predicting a wave of business failures next year as evidence mounts that the UK is at the midpoint of a W shaped recession in which insolvencies peak after GDP stops shrinking, Enable Business Finance believes there are many options available to firms that could prevent them entering a Company Voluntary Arrangement (CVA) or going into liquidation.
Despite well intentioned efforts by the Government to increase the funding available to small and medium sized businesses including prop up measures such as tax deferments in their Time To Pay initiative. The fact of the matter is that while they may provide a temporary buffer against the storm, they are unlikely to be the lifeline that many need in order to survive. As such tax deferments are merely just postponing a cash flow problem today for tomorrow.
Small businesses need to take a closer look at their cash flow and review the funding options available rather than go down the road of no return. Invoice finance and other funding options such as asset based factoring or confidential invoice discounting can provide a long term viable solution to help businesses improve cash flow and thus their chances of survival through what are very challenging and tough economic trading conditions.
Invoice Finance facilities work by releasing cash tied up in your debtor ledger (e.g. your unpaid invoices) enabling businesses to meet those vital creditor payments such as PAYE and taxes, not to mention the more obvious supplier payments and of course, sufficient funds to meet salary and wage roll.
The Finance & Leasing Association (FLA) has recently announced that access to credit is still tight for most borrowers, and it’s clear that businesses need access to fast, flexible and effective cash flow solutions that positively impact upon the firm’s liquidity. Thus ensuring they are still trading and able to take advantage of the economic upturn when it comes.
Small to Medium sized business owners will find that the Asset based Lending industry has an open minded approach to funding their business with solutions such as invoice finance. Unlike traditional banks, which can be inflexible and often take a one size fits all approach, alternative funding providers typically take a much more in-depth view of a business and take into account the entire financial picture when making a funding decision.
The fact that the UK economy is not out of the woods yet; underlined by comments by the Governor of the Bank of England “The UK economy has "only just started" along its road to economic recovery” is further justification that business owners need to be adequately funded. Furthermore the Bank of England in its latest inflation report indicated it would be late 2011 before the UK economy recovered to the level it was at before the recession. This again further highlights the time scales involved.
Enable Finance Ltd are eager to talk with business owners and Directors about which alternative sources of funding are available to them and their specific business. It should also be worth noting that even if a Company is facing insolvency proceedings or have been threatened with a winding up petition. The specialist business finance advisors may still have a solution and indeed help clear up the impending creditor pressure.
Monday, 9 November 2009
What is Invoice Factoring And How Does It Work - See our slide show
One of the most popular questions our clients ask when they are considering invoice factoring is how does it work? Its often difficult to conceptualise so the Invoice Finance team at Enable Finance have made a brief and simple slide show in power point presentation to illustrate to our potential clients how invoice finance works and moreover what invoice factoring can do.
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