SME finance

What is Invoice Finance for SMEs?

Invoice Finance offers a way for SMEs to raise cash against unpaid invoices. This gives an immediate boost to cash flow without taking on the long-term debt of a traditional business loan.

As your business grows, so too does the amount of cash which you can unlock meaning you can invest in your business when you need to.

Factoring and Invoice Discounting are the two main types of Invoice Finance. Factoring comes with both funding and support with credit control. Only the funding is provided with Invoice Discounting.

Download a guide to Invoice Finance

Financial challenges solved with SME finance

Many Irish SMEs face similar challenges when it comes to both remaining profitable and achieving growth ambitions. Here’s how SME finance provides an answer to some of those challenges:

Securing finance - SMEs are often turned down for loans if they don’t meet the strict criteria imposed by traditional lenders. SME finance from alternative funding sources such as Invoice Finance can offer a more flexible option which is less concerned with creditworthiness.
Driving growth - A major barrier to growth for an SME is a lack of available cash to invest. Invoice Finance unlocks cash tied up in outstanding invoices giving businesses the capital needed to take on new contracts and business opportunities. And unlike a bank loan, as the business grows, so too does the SME finance which is available.

Attracting and keeping good employees – a business which struggles to meet its payroll obligations is unlikely to keep their good employees for long. SME finance can help to ensure there is reliable cash flow available to meet these demands. An ability to pay workers and suppliers on time is vital to maintaining a good reputation.
Staying ahead of the competition – the business world never stands still, and it is those SMEs which are quick to adapt which are most likely to thrive. Investing in new technology will give an SME the edge over the competition while those that lack available funds can be left behind. SME finance with Invoice Finance unlocks funding to invest in the future of your business.

Understanding the finance needs of SMEs

We can help you raise funds with Invoice Finance so you can realise your growth plans, expand your order books or boost your day-to-day cash flow.

As an SME finance option, Invoice Finance can offer greater flexibility than a traditional bank loan and less of a debt burden then other forms of lending.

“Bibby Financial Services Ireland understood the needs of our business and our aspirations to continue growing, and we were quickly able to access the required funds.”

Discover how our SME finance helped Weatherglaze Windows when they were unable to get support from the banks.

SME finance can allow businesses to realise new opportunities

Why do SMEs use Invoice Finance?

Realise opportunities

With an improvement in cash flow you’ll be in better position to realise new opportunities, take on new orders or expand and invest in your business.

Minimise late payment & bad debt

To protect your business, you can choose to add Bad Debt Protection. This is non-recourse factoring, where we take on your bad debt risk, unlike recourse factoring, where the risk of not being paid by your customers remains with you.

More time and resource to focus on your business

With our factoring solution, you get a dedicated credit control service, allowing you to focus your time and energy on your business.

Boost your cash flow without the need for debt

Invoice Finance is not a loan, you’re not taking on any debt. This keeps your cash flow healthy.

Take advantage of discounts from suppliers

You will be able to take advantage of volume discounting deals with your own suppliers. Since you will be in a position to buy larger units or to take advantage of supplier discounts for early payment.

Get to know your customers better

We can give you useful information about the credit standing of your customers, which can help you to negotiate better terms with your suppliers. It also means you can take on better quality customers and improve your debt position between more customers instead of concentrated in just a few.

Invoice Finance features and benefits

Features

Release up to 90% of invoice value within 24 hours
Get cash against your invoices as they are raised
Optional Bad Debt Protection
Manage your account 24/7 with our Client Online service

Benefits

Speed: access to funds within 24 hours
Flexibility: your funding grows in line with your sales
Personal: providing you with a more personal service through our relationship-based approach
Convenience: you can check your funding at any time with our 24/7 Client Online service
Security: you have the option to protect against customer insolvency with Bad Debt Protection

Contact us to discuss your SME finance needs

Choose the leading experts in SME finance

We are an award-winning provider of SME finance which has been supporting businesses since 1982.

Our SME finance experts have in-depth knowledge of many industries and the unique challenges facing SMEs in Ireland today.

As well as providing SME finance, we also deliver regular insights into the Irish economy. Our clients benefit from a partnership with a funder which has a detailed understanding of the challenges posed by the current business climate.

We will work hard to understand exactly what your funding needs are before offering solutions which are tailor-made for your business. Get in touch and discuss your SME finance needs today.

Speak to one of our team today on 01-297-4911

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