Invoice Finance Yorkshire

Unlock Cash From Your Unpaid Invoices – Fast & Hassle Free

We are Specialist invoice finance brokers helping UK businesses access cash flow through Factoring and Invoice Discounting. No hidden fees, impartial advice, regulated and secure.

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If you regularly invoice businesses, you could be eligible for invoice finance — one of the best ways to ease cash flow problems and get paid faster for completed work.

Invoice finance is an increasingly popular way for businesses to increase their cashflow. In one form or another it has been around a very long time. With better technology implementing the facilties, it has become easier to use and as a method for improving working capital, invoice finance has been tried and tested. And it can work very successfully, but what is it and how does it work?

Through invoice financing, a lender will ‘purchase’ your outstanding invoices so you can move on with your business. You don’t have to wait for the standard payment term to elapse but instead you’re free to pay your suppliers, buy in more stock or invest in new avenues of business.

Invoice finance is a way of borrowing money based on what your customers owe to your business. Unpaid invoices represent money that will be paid to you, but you have to wait for the payment terms to elapse, which could be anything from 14 days to 90 days or more. Invoice finance gets you most of the cash immediately, so you don’t have to wait to get paid.

The concept is simple — rather than waiting days or weeks for your invoices to be paid by customers, lenders advance you most of the value immediately. That means you get paid faster for completed work, so you can focus on running your business.

Why Yorkshire businesses use invoice finance

Yorkshire is home to a vibrant mix of manufacturers, food producers, logistics operators, commercial contractors and service providers, and almost every one of them invoices other businesses on credit terms. When those payment terms stretch to thirty, sixty or even ninety days, working capital can start to feel tight. Invoice finance is one of the most practical ways to keep cash moving while you wait for customers to settle their accounts.

We are based in Wetherby, in the heart of West Yorkshire, and we work with companies across the region, from Leeds and Harrogate to York, Hull and Grimsby. Wherever you trade, a Yorkshire based broker who knows your local industries can make the difference between a funding decision that fits your business and one that simply ticks a box.

Our regional numbers, 0113 518 2253 for Leeds, 01904 946154 for York, 01937 229222 for Wetherby and 01482 699354 for Hull, mean you can pick up the phone and reach someone close to home.

Call your local area

We cover the whole of Yorkshire, so wherever your business trades you can speak to a broker who understands your local market. For general enquiries you are always welcome to call our main line on 0113 518 2253. If you would prefer to talk to someone about your specific area, please call the relevant number below:

Grimsby: Call 01482 699354 for invoice finance in Grimsby.
Harrogate: Call 01937 229222 for invoice finance in Harrogate.
Hull: Call 01482 699354 for invoice finance in Hull.
Leeds: Call 0113 518 2253 for invoice finance in Leeds.
York: Call 01904 946154 for invoice finance in York.

Whichever number you call, you will reach the same regulated, impartial team. There are no hidden fees and no obligation, just straightforward advice on the right invoice finance facility for your business. You can also fill in our online contact form if you would rather we call you back.

Invoice Finance Example

ACME Manufacturing Ltd has a big new job coming up. The company knows it will need to pay for extra materials and take on another member of staff to do this new job, and will only get paid when it’s finished. The business is owed £15,250 by another client for a completed job, but the invoice has payment terms of 30 days. ACME Manufacturing Ltd agrees an invoice finance deal that will give them 85% of the invoice up-front, with total fees and charges at 3%.

Invoice value = £15,250
Advance amount (85%) = £12,963
Fees (3%) = £458

When the company notifies the full invoice value to the lender (£15,250), the company is then able to receive an advance of £12,963 within a couple of minutes. Then, when the customer pays the invoice, the full £15,250 goes into a bank account controlled by the lender. ACME Manufacturing Ltd gets the remaining value of the invoice (£2287) minus fees (£458), so receives £1829. All invoice finance operates under this principle, but there’s a variety of different products available.

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Benefits of invoice finance for Yorkshire businesses

Invoice finance gives you faster access to cash that is already yours. The advantages most of our Yorkshire clients tell us about include:

Quicker access to working capital, often within hours of a notified invoice being approved.
Steadier cash flow when customers operate on long payment terms.
The ability to pay suppliers on time, take on bigger contracts and bring in new staff.
A facility that grows with your sales, rather than capping you at a fixed overdraft limit.
A choice of full facilities or selective invoice finance, so you only fund the invoices you want to fund.
Optional credit control support through factoring, which frees up time in your finance team.

Because we are a regulated broker and not a lender, we compare options from across the market and explain the cost before you commit.

Who qualifies for invoice finance

Invoice finance is suited to businesses that invoice other businesses on credit terms. You are likely to be a good fit if:

Your customers are limited companies, partnerships or public sector bodies.
You invoice on standard payment terms of fourteen to ninety days.
You have completed and delivered the work the invoice relates to.
Your turnover is supported by a recurring pattern of B2B sales.

We work with sole traders, limited companies and larger established firms. Newer businesses are also welcome to enquire, as several lenders we work with specifically support companies that are still building a trading history. If you are not sure whether you qualify, call us and we will tell you straight whether we can help.

Types of invoice finance

Invoice discounting
Invoice factoring
Selective invoice finance
Spot Invoice Finance

Below we will look at some general things to consider about invoice finance.

How invoice finance works, step by step

Setting up an invoice finance facility is straightforward once you know what to expect. The typical journey looks like this:

Initial conversation. We take a short call to understand your turnover, customer base, payment terms and the cash flow challenge you are trying to solve. There is no charge and no obligation.
Lender comparison. Using your information, we approach lenders that match your sector, size and circumstances, and compare advance rates, fees, contract length and service levels.
Indicative offers. We come back to you with a shortlist of options and explain the headline figures, the small print and our commission position in plain English.
Application and due diligence. Once you choose a lender, you complete an application and the lender carries out checks on your business and your customer ledger.
Facility goes live. Your facility is set up, typically within one to three weeks for a new arrangement and much faster for selective or spot transactions.
Ongoing support. We stay in touch throughout the life of the facility and review it whenever your needs change.

To start a conversation, contact us today or call 0113 518 2253.

Which type of invoice finance is right for my business?

One of the key things to consider with invoice finance is: how much control do you want? Once you know the answer to that question, you can get more specific about the terms and conditions you’d prefer. Let’s take a closer look at the key product categories within invoice finance:

Selective invoice finance and spot factoring

These products differ from factoring and discounting because they aren’t full-facility products. In other words, you can choose which invoices you’d like to finance, and deal with the rest as normal. Selective invoice finance allows you to choose specific customer accounts to finance, while spot factoring allows you to choose specific invoices. Either way, you can take a more flexible ad-hoc approach, and get funding when you need it. It’s a good fit for businesses with a clear idea of how much money they need, but can be more difficult to secure than factoring or discounting. Whatever facility you choose, invoice finance can be a great way to improve your cashflow situation.

Talk to a Yorkshire invoice finance broker today

If you are weighing up invoice finance for a Yorkshire business, we are here to give you straightforward, regulated advice. There is no charge for an initial conversation and no obligation to proceed.

Call us on 0113 518 2253 or fill in our online contact form. You can also explore our other services including merchant card advance, secured overdrafts, asset and equipment finance, trade finance and commercial loans.

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Funding question? Even if you're not sure what's possible, call us. We'll tell you straight whether we can help.

If you would like to know more about the products and services we offer or have any other questions then please click the button below to get in touch. Alternatively, you can call us direct on 0113 518 2253