England 15/04/2012 – In the current economic climate many firms are turning to alternative forms of business finance
In the current economic climate, raising money is proving to be a big problem for a lot of businesses, which is one reason so many are looking at alternative forms of business finance. Many are pleasantly surprised by what they find in the world of alternative financing. Having gone through the humiliating experience of asking for a loan from traditional lenders only to be turned down out of hand many business owners are disillusioned and very worried for the future. They are relieved to find that there are in fact many other ways to sweat their assets to get the money they need to weather a storm or to invest for the future.
Many businesses are surprised to learn that they can borrow money using their equipment as collateral. They are, of course, familiar with the concept of using their buildings as collateral yet never think of doing the same with their equipment. Another form of alternative business finance that is being discovered by UK firms is invoice factoring.
How the alternative business finance service of invoice factoring works
Invoice factoring or invoice discounting is an easy way to borrow money. What you are doing is borrowing money using what your clients owe you as your collateral. Even in the current economic climate, most of your clients will pay you on time and in full. This means some finance firms are willing to lend you money using your invoices as their security. Naturally, they check to see how creditworthy the people that owe you money are before doing so, but most of the time they are happy to lend money against invoices.
X Business Finance specialises in helping firms to raise funds by sweating their assets. They offer a huge range of alternative business finance services including, invoice factoring, flexible overdrafts, cash flow loans, vendor finance, equipment finance and many other innovative ways for firms to raise money. They have seen demand for their services soar and expect that trend to continue.
XL Business Finance
Eaton Place Business Centre,
114 Wash way Road, Sale,
Zip: M33 7RF
Tel: 0161 980 0577
Fax: 0161 332 6148