In today’s world, fake news is rife, and the world of invoice finance is no exception to this, being subject to numerous misconceptions.
Here, we look to dispel the top five common invoice financing myths and demonstrate how it can be a viable funding option for your business:
It’s only for businesses in trouble
This is a historic stigma. Most companies nowadays use invoice finance as a tool for growth. Indeed, over 40,000 businesses of all shapes and sizes in the UK currently benefit from the extra working capital these facilities provide.
I don’t want to fund all my invoices so it isn’t suitable
Not a problem, there are plenty of providers who don’t require you to do this. At Satago we offer a selective facility meaning you can pick and choose which invoices you want to fund, when you want. That’s right, fully on-demand finance to suit your business needs.
My business will be tied into a contract
Absolutely not! While some providers will sign you into lengthy contracts of 12 months or more, we know that business needs and priorities can change. Therefore we don’t impose any minimum (or maximum) term on our single invoice finance – you’re free to come and go as you please, that’s finance that’s more flexible than a circus contortionist!
Flexible funding, with no contract
That must be expensive, right? Actually, it probably less than you might think. With Satago you can be assured of fair and transparent pricing with one simple agreed fee and no hidden charges.
It’s a hassle to set up and manage
This may have been true in the past but, as with most things nowadays, technology is helping to smooth things along. With Satago, it couldn’t be easier to manage your facility – check out our video guide to find out how.
As businesses return to more normalised trading, having a healthy cash flow will be more vital than ever. For those who trading B2B, invoice finance is a proven solution to alleviate the financial burden.