Video Transcript
Yes, invoice finance will work for your business if your business satisfies the following criteria and you might well find invoice finance is an excellent solution for your business. Criteria one, your customers are other businesses, in other words, you’re doing B2B transactions. Two, you have more than one customer. Three, you are regularly invoicing those customers. Four, your business has an annual revenue of more than $1.5 million. And five, You’re looking for a facility size of more than $100,000 which typically means you’re making about $80 to $100,000 of sales per month. Now If you’ve already gone down the path of applying for a bank debt, or overdraft with your bank, and you’ve either been declined or the amount they’ve offered you is too small. Then, provided you meet the above criteria, you may still qualify for invoice finance because invoice finance is based on your current sales, not on your past turnover or historical financial performance.
