Invoice Finance - Factoring Discounting

Asset Based Lending: Lender of the Year

2011-12-22T03:42:00.000-08:00

Leumi ABL scoops Asset Based Lender of the Year - UK’ for the third successive year in ACQ Magazine’s Country Awards for Achievement 2011.

Here are some of their Deal Highlights:

BIMBO of Ash and Lacy Building Systems - total ABL package of £6.85m, comprising a £5.75m invoice discounting facility, £0.75m stock finance plus £0.35m plant finance.
MBI of Dawson Home Group – an eight-figure ABL deal, consisting of an invoice finance facility and stock finance.
Refinancing of Stehlin Hostag Ink UK - £3.5m invoice discounting facility.
Lambson Building Products Limited - Increasing numbers of opportunities are benefiting from Leumi ABL’s ability to put in place a jointly structured funding facility with Bank Leumi (UK) plc. In this deal we worked together to provide a total funding facility of £9.44m.

For more information on how Asset Based Lending could help your company achieve the growth it deserves please contact Enable Corporate Strategies or follow the links to find out more.

Credit Card Factoring, Loan advance against Future PDQ transactions

2011-12-19T05:10:00.000-08:00

Enable Corporate Strategies is pleased to announce a new lending facility designed specifically for retailers or businesses that take payment for goods or services via credit card processing machines and PDQ terminals.

The business loan facility is the quick and easy way for your businesses to obtain funding based on their future Credit or Debit card sales without having to change their existing PDQ provider.

Typical Business Loan Criteria

Company needs to have been operating for 12 months
Need to show 12 months card processing statements
Must have more than 1 year left on lease
Must be in good standing with their credit card company

If you are interested in finding out more about this technically unsecured business loan please call Phillip Evans on 0797 0500425 or apply online at Enable Corporate Strategies.

Business Loans Video From Enable Finance

2011-10-27T09:07:00.000-07:00

Here is a great business finance and loans video for just a quick overview of some the business loans and commercial finance solutions available from enable finance

The video covers:

Invoice Finance
Asset Finance
Commercial Mortgages
Leasing

I hope you like it... please feel free to leave a comment below.

Bank Leumi Buys Coface Clients

2011-10-25T08:39:00.000-07:00

In a deal completed on 11^th October 2011, Leumi ABL Limited, the asset based lending subsidiary of Bank Leumi (UK) plc, has acquired a portfolio of clients from Coface.

Commenting on the acquisition, Paul Hird, CEO of Leumi ABL, said: “This is another exciting development for the Leumi ABL team and builds on our very successful growth to date. We very much look forward to welcoming the Coface clients who will be joining us.”

Phil Woodward, Managing Director of Leumi ABL, added: “This deal continues our growth strategy and follows our purchase two years ago of the Charterhouse Commercial Finance client book. Since launching Leumi ABL five years ago, we’re proud to have built a strong reputation in the mid tier deal making arena. We are very pleased to be able to extend our offering to assist the growth of these additional clients, whilst offering the flexibility, speedy decision making and personal approach for which we are known. As with our existing clients, Leumi ABL’s full asset based lending capability will be available to support these new clients as their business needs evolve.”

What is Asset Based Finance? its an alternative way to fund your business growth using assets such as stock, plant and machinery and sales ledger to leverage cash back into the business.

Martin Risman, formerly of Coface, has recently joined Leumi ABL as Regional Sales Director where his new role will involve overseeing the successful integration of the new clients within the Leumi ABL team and providing ongoing client relationship management from the Brighton-based head office.

Xavier Denecker, Managing Director of Coface in the UK and Ireland, said: "Coface is discontinuing its receivables finance activity in the UK to focus on its core business, trade credit insurance. We are confident that our receivables finance clients will find at Leumi ABL the business understanding and quality of service they appreciated at Coface. We look forward to developing with Leumi ABL a strong partnership between receivables finance and insurance."

Coface were advised and supported by Rupert Rawcliffe of Grant Thornton and Paul Scrivin-Wood of ABL Resourcing.

Ashley Commercial Finance Goes For Market Share

2011-09-13T04:27:00.000-07:00

Ashley Commercial Finance Ltd is reducing its pricing on all new invoice factoring deals in order to increase market share.

Ashley is also offering three-month trial agreements for clients signed up before 30 September 2011.

Jonathan Cranston, managing director, commented “The factoring market has become increasingly competitive over recent months and we had to respond. With our recently increased funding ability we are looking to accelerate new business acquisition and our mantra is always allow Ashley to quote, no matter how attractive rival offers appear to be”.

For more information on invoice factoring or for a free quote to see if it would help your

Asset Finance – New MD at State Securities Ltd

2011-05-25T02:42:00.001-07:00

Philip Davies has been appointed Managing Director of State Securities plc.

Philip has had a long and distinguished career in the leasing industry, beginning in 1982 with computer leasing company, United Leasing. Since then Philip has held directorships at Chase Manhattan Leasing and Five Arrows Leasing Group where he was a founding director. He has enjoyed a variety of roles at Five Arrows over the years including close involvement in the purchase of Fineline Media Finance, State Securities plc and Print Finance.

In 2004, he was appointed Managing Director of the Group’s UK broadcast and IT equipment finance subsidiary, Five Arrows Leasing Limited and since 2006 has held dual responsibility for this and the Group’s specialist back office outsourcing business, LPM Outsourcing. Philip has now left LPM Outsourcing and has been appointed Managing Director of State Securities plc. He remains a Board Director of Five Arrows Leasing Group Limited and all the other group subsidiaries.

Bibby Factors Have Record Growth

2011-05-11T06:52:00.001-07:00

In what can only be described as a challenging economic climate, Bibby Financial Services continues to triumph in these challenging conditions supporting an historically high number of businesses across a variety of industry sectors with bespoke cash flow solutions.

Globally, the business was delighted to record a 25% growth in new business year-on-year and hit the 5,000 client milestone, factoring £5.8bn debts around the world. This led to a record 84% growth in pre tax profits to £34.4m.

This strong year-on-year growth has been achieved through our agile and flexible approach to new business resulting in us supporting over 3,800 businesses in the UK and securing one in seven new deals in the domestic market, building our reputation as The leading independent who has the capability, experience and a ‘can do’ attitude to write deals where others cannot.

Having made a number of operational improvements over the last 12 months, we have not lost sight of our ambition to become the world’s largest independent factoring company, or our determination to continuously strengthen our offering to our clients.

We are proud of the results we have achieved and will continue to progress our already strong position in the UK marketplace where we continue to outperform industry rivals year-on-year, and look forward to the rest of 2011 and the long term future.

Edward Rimmer
UK Chief Executive

Recruitment Agency Gets Invoice Discounting From Centric

2011-04-04T01:59:00.001-07:00

Recruitment agency First Recruitment Services Limited (FRS) receives a £750,000 invoice discounting facility from Centric Commercial Finance.

FRS have implemented the invoice finance facility for the purpose of strengthening its cash flow position ahead of economic recovery.

FRS has been using invoice discounting for several years and wanted to retain this method of funding while switching to a provider that could equal its ambitions.

FRS was established in 1998 and employs more than 30 members of staff in the South of England.

Asset Based Lender Centric Picks Up Award

2011-02-07T07:14:00.001-08:00

Centric voted Asset Based Lender of the Year at Insider Awards

Centric Commercial Finance was voted Asset Based Lender of the Year by leading business introducers at the Insider Dealmakers Awards 2011 - South East. This top award recognised Andrew Rutherford and his team for their involvement in a substantial volume of deals, especially mergers & acquisitions. A strong reputation for creative funding was cited as the compelling reason for the win.

The prestigious award was presented in front of almost 350 of the industry's brightest talents gathered at the Copthorne Hotel, Effingham Park, Gatwick. Other asset based lenders shortlisted for the Asset Based Lender of the Year award won by Centric, included GE Capital, Venture Finance, PNC Business Credit and Leumi ABL.

Andrew Rutherford said: "I am delighted that the team at Centric has been recognised by these highly regarded awards for our creative approach to structuring and delivering Asset Based Lending transactions. These are still very challenging times for SMEs and therefore creativity in driving both liquidity and market confidence has never been more critical. We would particularly like to thank the introducer community for voting for us. We will continue to do what we have always done - to leverage our experience as well as asset values and ultimately to deliver on our promises to clients and their advisers."

Ashley Commercial Finance Moves Office Today

2011-01-14T03:11:00.001-08:00

Invoice Factoring Company Ashley Commercial Finance will be closing its Cheadle office at 2pm on Friday, 14 January and will be fully installed and operational in their new office from 9am on Monday, 17 January, 2011.

They are re-directing phone lines and mail but this could cause a delay, particularly in the delivery of post. New Address details are as follows:

Ashley Commercial Finance Limited
8th Floor
80 Mosley Street
St. Peter's Square
Manchester
M2 3FX

New numbers are:

Main Reception:
0161 233 6370

Fax:
0161 233 6399

Bibby Invoice Factoring Refinances £340 million

2011-01-06T04:24:00.001-08:00

Reported by Business Money today its been conformed that Barclays Corporate has led a syndicate of banks in refinancing £340m for Bibby Group of Factors, theUK’s largest independent factoring and invoice discounting provider.

The deal sees Bibby refinance an existing facility, which was due to expire in 2012, early and secure its funding until 2014.

Barclays Corporate led a syndicate of four banks which included RBS, Credit Agricole and Lloyds in the refinancing of one of the largest receivable lines in the UK. Barclays Corporate provided £175m, Lloyds £75m, RBS £50m and Credit Agricole £40m.

Bibby has moved early to ensure the firm is fully capitalised as the economy recovers.

Asset Based Lender Of The Year - Leumi ABL

2010-12-20T22:27:00.001-08:00

Once again, Leumi ABL has affirmed its position as one of the leading UK asset based lenders by winning the title of 'Asset Based Lender of the Year - UK' for the second successive year in ACQ Magazine's Country Awards for Achievement 2010.

The award is the result of an independent poll amongst industry peers and marks the end of another year of growth for Leumi ABL, which also saw the company pick up the title of Alternative Finance Provider from M&A Magazine in May.

Phil Woodward, Managing Director of Leumi ABL, comments: "2010 has been a year of extraordinary challenges for many businesses and I'm delighted to see Leumi ABL being recognised by the dealmaking community as a funding provider that can offer consistency, stability and certainty to businesses, particularly in these tough times. We were overwhelmed by the number of nominations and would like to thank all those who voted for us."

Paul Hird, CEO of Leumi ABL adds: "This award is particularly important to us as it demonstrates the trust we have gained from our introducers across the UK. As we look forward to marking our fifth anniversary in 2011, our focus remains on providing the personal and flexible service for which we are known, whether completing straightforward invoice finance deals or structuring complex ABL facilities."

KBC Business Capital Has Been Bought Out

2010-09-30T00:55:00.001-07:00

KBC Business Capital has been bought by PNC Financial Services Group, America’s sixth largest bank.

Business Money editor, Robert Lefroy, commented: “This brings to an end a long period of uncertainty for the UK based team.

It also means that there are some deep pockets available now, a parent that is comfortable with all asset finance must be a blessing in a new owner too.

Whilst the KBC Capital team had nothing but praise for its former owners the credit crunch brought many challenges with it and it is good news that the UK has another powerful ABL provider now”.

Asset Based Finance Association Has New Chairman

2010-09-22T01:56:00.001-07:00

Steve Box, managing director of HSBC Invoice Finance (UK) Ltd, the widely respected international receivables finance company, has been elected as the new chairman of the Asset Based Finance Association (ABFA).

Steve has recently been promoted to take additional responsibility for the Equipment and Asset Finance arm of HSBC. He has been in the commercial finance industry at HSBC for 30 years, having worked in a number of managerial and sales roles across corporate and commercial banking in the UK prior to taking his current role with HSBC Invoice Finance.

Steve Box takes over the chairmanship of the ABFA from Maurice Craft, who held the post for the last year.

Absolute Invoice Finance Rebrands As Aldermore

2010-09-01T22:03:00.001-07:00

Absolute Invoice Finance, the specialist business financier that was acquired in November 2009 by Aldermore, the new British bank, has today rebranded as Aldermore Invoice Finance.

The relaunch marks nine months under the bank’s ownership for the invoice financier formerly known as Cattles Invoice Finance. It coincides with the business recording a 35% surge in new business volumes for the seven months to 31 July 2010, when compared with the same period last year.

Ian Wilkins, managing director of Aldermore Invoice Finance, said: “Joining forces with Aldermore nine months ago enabled us to take huge strides forward as a business, not least because of the liquidity it provided. Having access to a deep pool of capital has meant that we have been able to better support the SME sector at a time when many high street banks are retreating from lending at the smaller end of the market.

“As well as enabling us to increase market share, the support of an exciting new name in British banking has also increased our ability to attract the best people in the commercial finance industry, and we have increased headcount across our six regional offices by 30% this year to 192 people.

“Rebranding as Aldermore Invoice Finance marks the final step in the integration process and brings the invoice finance division in line with the other areas of the wider Aldermore bank, which comprise commercial mortgages, asset finance, residential mortgages and savings.

“Our appetite to grow and do deals has never been so strong or well supported, and we are committed to providing the same level of support to the SME market. Being part of a specialist SME lender like Aldermore will enable us to achieve that ambition and implement our own growth plans at a rapid pace.”

Focused on providing cashflow solutions to SMEs, Aldermore Invoice Finance operates from six regional operating centres across the UK, and offers rapid, local decision-making to clients across a range of sectors.

Aldermore Invoice Finance’s client turnover is in excess of £1.1 billion, and funding solutions include factoring and invoice discounting, as well as support services, such as payroll.

Asset Based Lender Provides $60 million

2010-08-16T08:04:00.001-07:00

Burdale Capital Finance Inc., a member of Bank of Ireland Group, (Burdale), has completed a $60m three-year agented revolving credit facility for MAG Industrial Automation Systems LLC (the company). This facility is to support the company’s current working capital requirements and strategic growth plans.

MAG is a leading machine tool and systems company serving the durable goods industry worldwide with complete manufacturing solutions. With a strong foundation based upon renowned brands such as Cincinnati, Cross Hüller, Fadal, Giddings & Lewis and Hüller Hille, MAG is recognised as the preeminent provider of tailored production solutions based on state-of-the-art technology. Key markets served include aerospace, automotive and truck, heavy equipment, oil and gas, rail, solar energy, wind turbine production and general machining.

If your business is looking for business loans and asset based lending why speak with Enable Business Finance.

7 European Banks Fail Stress Tests

2010-08-10T05:40:00.000-07:00

The Committee of European Banking Supervisors failed five Spanish banks - Diada, Espiga, Bianca Civica, Unnim and Cajasur, one German - Hypo Real Estate and one Greek - ATEBank, out of 91 tested.

The Royal Bank of Scotland, Lloyds, Barclays and HSBC were the only British banks involved and all passed.

The Financial Services Authority predicted that all UK banks would get through the tests.

It adds: “The CEBS exercise shows that the UK banks are well placed to handle further periods of economic stress, as outlined in the macro economic parameters detailed by CEBS, should such stress develop.

“The purpose of a stress test is to understand the extent to which banks are prepared, should the economic environment take a turn for the worse. It is not a prediction of what will happen or what banks’ results will actually be and the CEBS stress test does not take into account actions a bank might take in response to deteriorating economic conditions. It would be misleading therefore to treat the results of the stress test as a forecast either by the FSA or the individual banks.”

The stress tests checked the credit risk by simulating the profit and losses in two sets of macro-economic scenarios - benchmark and adverse.

The benchmark scenario was based on the EU Commission Autumn 2009 forecast and the European Commission Interim Forecast in February 2010, adapted to reflect current conditions.

The adverse macro-economic scenario was based on European Central Bank estimates.

A “sovereign risk shock” was simulated plus GDP, unemployment and in tersest rates for each EU member state, the US, and the rest of the world collectively.

The British Bankers’ Association says: “UK banks have already put in the work to rebuild their businesses and put more money aside against future financial problems. It is no surprise to find they have exceeded the standards set out by CEBS to ensure banks across Europe are well placed to weather any future financial problems.”

Invoice Finance Is Soaring For Small Business

2010-08-05T05:26:00.001-07:00

Aldermore, the new British bank, has said that the number of SMEs using invoice financing is soaring as small companies look for new ways to deal with the SME funding crisis.
In Q2 2010 Aldermore provided 109 invoice finance facilities to SME businesses, up 42% on the 77 facilities put in place in the same quarter a year ago.
Invoice finance is used to free up cash and working capital by borrowing against the business’s unpaid invoices.
Aldermore said that small businesses are increasingly frustrated with the inability of some of the big UK banks to meet their demands for funding.
Ian Wilkins, managing director at Aldermore’s invoice finance arm, commented: “Some SMEs want to create some headroom in case of a fall in orders or a possible double-dip. Other businesses want to release cash to fund expansion.”
“They all realise that they will not be able to rely on their bank to give them the kind of overdraft facility that they have used in the past. Banks have to reserve capital against overdraft facilities even if they are not being used.”
“Small companies remember the lessons of the last recession and they are keen not to be let down at a crucial time by their bank.”
“I would love to say that the surge in invoice finance business that we are seeing is entirely down to our own efforts but we are definitely helped by the fact that other banks are giving SMEs the cold shoulder.”
Data from the Bank of England shows that net lending to UK businesses fell by £2.3bn in May 2010.
Ian said that a lot of small businesses are turning to invoice finance because some of their biggest customers have used the recession as an excuse to pay their bill more slowly.
He added: “Despite all their charters and promises, some big UK PLCs are poor payers of their small suppliers.”
“Invoice finance ensures that a major bill that a big customer might sit on for months gets turned into cash straight away.”

Bibby Factors Acquires Another Factoring Company

2010-08-03T05:44:00.000-07:00

Bibby Financial Services has acquired the client portfolio of Aston Rothbury Factors, an independent factoring company which has been in administration.

Brentwood-based Aston Rothbury Factors has over 40 clients primarily based in the South East, and went into administration following the withdrawal of funding lines by the incumbent funder. Bibby Financial Services will take on the management of these clients through its Hastings office.

The administrators, FRP Advisory LLP, was behind the sale.

Edward Rimmer, UK chief executive Bibby Financial Services said: "We have set a challenging growth objective over the next few years and the acquisition of suitable businesses and/or client portfolios is firmly part of that strategy. As a result, we are regularly considering opportunities. Bibby Financial Services is delighted to be supporting an additional 40 firms offering a specialist funding facility and client-focused credit control.

"We welcome Aston Rothbury Factors’ clients into the Bibby family and hope that by providing them with our invoice finance expertise, we can help them take advantage of opportunities for growth and continued business success."

Lionel Blackledge, partner at FRP Advisory, added: "With a strong client book and a good reputation, we were confident that a sale of Aston Rothbury Factors could be achieved. The company’s clients can now be assured of continuity in their funding and the support of one of the UK’s leading factors.

"Sadly, it was necessary to make all 23 staff redundant and we have provided a dedicated contact point to ensure this process is handled sensitively and all claims are processed quickly and efficiently."

Invoice Finance and Asset Based Lending Drives Success

2010-07-29T05:16:00.000-07:00

One of Europe’s leading haulage companies has secured a £4.5m asset-based finance facility from Lloyds TSB Commercial Finance to execute its expansion strategy.

Currie European Transport provides logistics, transport and warehousing services throughout the UK and across Europe to customers operating across a range of industries such as food and drink, paper and packaging, retail, manufacturing, industrial, building and electronics.

The business is headquartered in Dumfries, south west Scotland and has a depot in Coatbridge, a site in Warrington and sister operations in the Netherlands and France. It employs over 200 people and has a forecasted turnover this year of £33m.

Established in 1977, Currie European Transport has a long-standing relationship with Lloyds TSB Commercial Finance, using its hire purchase and leasing agreements to fund its fleet of 100 trucks and 475 trailers.

The firm has also been using asset-based finance for a number of years and when it decided to switch from its previous provider, it approached Lloyds TSB for help with providing an integrated funding solution.

Lloyds TSB Commercial Finance devised a £4.5m asset-based finance line split between sterling and euro to cater for the firm’s overseas customers. The funding package releases the significant value of the company’s two sales ledgers and provides additional working capital to allow the group to execute its expansion strategy.

In order to protect itself against the risk of bad debts from its European customers, the company also took out Lloyds TSB Commercial Finance’s debtor protection policy

KBC Business Capital

2010-07-23T07:38:00.000-07:00

KBC Business Capital, the asset-based lending (ABL) division of Belgian banking group KBC Bank has provided a £17.6m ABL facility to support the refinancing for Avocet Hardware. The funding package is secured on accounts receivable, inventory and property.

Avocet Hardware is one of the country’s leading manufacturers and distributors of door and window hardware and is the UK’s largest supplier of fixings and hardware products to the main DIY retailers. Operating from Brighouse in West Yorkshire the company underwent a management buyout in late 2007. Since then the management team have developed both the product range and manufacturing strengths within the business to outperform their market sector in highly testing market conditions.

Alistair Hood, regional director at KBC Business Capital, said: “We first started talking to the management team at Avocet in late 2008. From the outset we have been impressed with the ability of the team to react to difficult market conditions and choose the correct course of action to ensure the company survived the worst of the recession. With the new funding in place and evidence of a return in market confidence we look forward to helping the business take advantage of all potential growth opportunities.”

Ian Jones, CEO at Avocet, added: “The KBC team were outstanding from the start – helping to structure an excellent refinancing facility. Throughout the process, the KBC team were genuinely impressive – both from a technical perspective, in structuring the deal, and from a personal perspective, in building great relationships. They really are a great team and I’m delighted that we will have the opportunity to work with them in the years ahead.”

Avocet was advised by KPMG, Shoosmiths solicitors and Eastwood Anglo Corporate Finance. KBC Business Capital was advised by KPMG, Wragge & Co, and SHM Smith Hodgkinson.

Skipton Business Finance - Provides EFG Loans

2010-02-23T05:39:00.000-08:00

Skipton Business Finance (SBF) confirmed that it had been selected to join the exclusive panel of approved lenders in the EFG Scheme.

Under the government scheme, businesses with a turnover of up to £25m can access loans, 75% of which are guaranteed by the government, and can be used, among other things, to meet short-term cashflow difficulties and restructuring as well as fund growth opportunities.

Andy Grantham, sales and marketing director at SBF, said that the programme aims to help viable firms who are unable to meet normal commercial lending criteria.

“During the downturn, the government promised businesses more support via the Enterprise Finance Guarantee Scheme and it’s exactly this type of scheme that can help improve a business’ cashflow, foster growth and create new jobs.”

Running until March 2011, the EFG Scheme replaces the successful Small Firms Loan Guarantee (SFLG) and is designed purely on facilitating additional lending to SMEs with no or insufficient security but with feasible business plans.

Andy added that SBF’s solid reputation in the market helped the company become part of the EFG Scheme’s approved list of lenders.

“SBF have an extremely successful track record of helping local businesses raise finance against their invoices through factoring or invoice discounting and I’m delighted we are now able to provide EFG facilities alongside our offering”.

Skipton Buisness Finance provides Invoice Finance & Factoring Facilities for further information or receive a quote please follow the link

Invoice Finance Company - Leumi ABL increasing presence in Yorkshire

2010-02-10T07:19:00.000-08:00

Following a record year for deals in 2009, I'm pleased to let you know that Leumi ABL has now increased its commitment to the region with the opening of an office in central Leeds and the new appointment of Peter Scaife, who joins John Walsh to support businesses in Yorkshire and the North East.

Peter Scaife, already well known to the Yorkshire deal-making community after 17 years in sales and business development with Lloyds TSB Commercial Finance, has joined Leumi ABL as Regional Sales Director - Yorkshire and North East. Peter will be working to enhance the already excellent reputation and brand name that Leumi ABL has in the region while looking to structure deals with funding requirements in the range of £1m to £25m.

John Walsh, who has been instrumental in building Leumi ABL's profile in Yorkshire and the North East over the past three years, is now spearheading the growth of new brand, Leumi Invoice Finance, across the North. John is seeking to support growing businesses, including well managed start ups, requiring funding of up to £750,000.

Working together, John and Peter will be able to support businesses at all stages of their growth. Our flexible, personal approach combined with our ability to structure a wide range of deals, from straightforward invoice finance facilities to complex multi-facility deals, can often result in higher levels of funding for our clients.

Close Invoice Finance Closes Stockport Office

2009-11-26T08:03:00.000-08:00

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

Close Invoice Finance To Advise Accountants

2009-11-24T06:55:00.000-08:00

Invoice finance provider, Close Invoice Finance, has signed a three-year partnership agreement with the Institute of Chartered Accountants in England and Wales (ICAEW).

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.

Santander Aquires Invoice Finance Company

2009-11-23T07:46:00.000-08:00

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

Absolute Invoice Finance, was Cattles, Has Been Taken Over By Aldermore Bank plc

2009-11-18T07:23:00.000-08:00

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.

Introduction to Invoice Finance

2009-11-13T06:45:00.000-08:00

Invoice Finance Offers UK Business Cash Flow Solutions

2009-11-12T08:09:00.000-08:00

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.

What is Invoice Factoring And How Does It Work - See our slide show

2009-11-09T13:13:00.000-08:00

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.

Factoring, What is Invoice Factoring & Debt Factoring

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