Leading the drive in introducing invoice finance to more businesses through collaboration.

“For the good of SMEs, we need to work as allies.” Leading the drive in expanding invoice finance to UK businesses through industry collaboration.

This week Optimum Finance hosted the first gathering of finance heads to discuss how the invoice finance industry can help more businesses with using their services as a preferred lending option. Through working collaboratively with other lenders in the market, Optimum hope to increase the total user base of invoice finance facilities, giving an enhanced, recognised funding option to the UK business population. Watch the full session here.

The panel included prominent figures from the non-bank lending space with representatives from Optimum Finance, Ultimate Finance, Hilton-Baird Financial Solutions, Reward Capital, Just Cashflow, and RSM as well as government representation in the form of British Business Bank and The Small Business Commissioner.

All panel members were in agreement in that invoice finance could play a huge role for businesses as they come out of the recession caused by COVID-19. Finance facilities available can be used to cover deferred loans, taxes, and rental payments, which will be an added strain on businesses’ cash flow. It has been suggested that the economic growth following the recession will be the largest bounce back since World War II, and so businesses will need somewhere that they can access increased levels of cash flow if they are to continue to surf the wave of recovery. Debtor ledgers are an often-untapped resource in generating additional funding and helping businesses to access this through advice, personal service, and linked technology is a priority for the industry.

A key finding from the discussions was that many businesses are in fact aware of invoice finance but choose to use alternative options due to outdated misconceptions. Optimum and the other businesses involved hope to work together, potentially each talking with industry bodies and regional business hubs to reposition invoice finance as the low risk, high gain funding option that it truly is.

CEO of Optimum Finance, Ant Persse, commented on the event; “I’m really glad that the participation in our round table event from other lenders has been so candid, reaffirming our main goal in helping the SME community. The outcomes of this meeting will have the greatest benefit to SMEs as a whole and I’m keen to get actionable improvements on how businesses are catered for by our industry.”

Watch the full session.

At Optimum Finance, we utilise innovative technology to offer a range of flexible funding solutions, which grow alongside your business. Get an instant quote for the amount of funding you could access by entering your annual turnover into our web app. Products include invoice discounting and factoring that can boost your cashflow and give you access to a dedicated credit control team.

Email or call us to speak to our experienced team of experts and find out how invoice finance could help your business. We pride ourselves on getting things done quickly and providing access to cash within 24 hours of approval. We are passionate about finding solutions and delivering to client needs.