Invoice Finance specialist Wise Factoring have launched a new campaign to promote the use of international single invoice finance. Working with a specialist funder Accelerated Payments, Wise Factoring are looking to speak with Welsh companies that export goods or services globally.
Phil Murphy, Managing Director at Wise Factoring comments: “We feel this is a superb funding option and really want to make Welsh businesses aware of it. Not many banks or financial institutions have an appetite to fund global invoices, especially on a one-off basis. Accelerated Payments advance 80% of the invoice value within 24 hours of approval, the rest when the invoice is settled. There are no personal guarantees or debentures, it includes non-recourse bad debt protection and there is no contract. The usual fee is 1.65%. Providing they can get credit insurance against your client, most countries across the globe are covered.”
Over 150 exporters are now using Accelerated Payments, funding invoices between £15,000 to £5,000,000+. There has been an increasing demand for this service to countries outside the EU, post-Brexit.
“We have seen a boom in exports to the US since Brexit, also Australia, the Far East and the Middle East. Invoices financed have ranged from a UK company providing IT services to an Egyptian Bank, to a UK dehydrated food supplier landing an initial $300,000 order with a major USA based retailer. With the issues of long payment terms, bad debt concerns and the potential squeeze on your cashflow removed, this financial offering could open up a lot of interesting worldwide opportunities.”
To find out more about the campaign, please visit www.acceleratedpayments.com/wisefactoring
For advice about single, selective or invoice discounting/factoring facilities, please visit www.wisefactoring.co.uk