As a tradesman, you rely on invoices being paid on time to move on to the next job and maintain your business. Unfortunately, you can’t always rely on invoices being paid on time, meaning cash flow can be a bit tight at times. This is where invoice finance for tradespeople comes in.
This finance option is a great short-term solution to help cover late or unpaid payments. It gives you the money you need when you need it to maintain your business. This option can take the pressure off you so you can focus on providing the excellent experience and service you aim to provide.
At Honey Asset Finance, we specialise in providing tradesmen with a range of finance solutions. We have years of experience and a network of partnerships, allowing us to provide some of the best deals available for your business.
In this blog, we share how invoice finance for tradespeople can help you stay mobile and afloat.
Money makes the world go round, especially as a trade business. However, it relies on your clients paying their invoices, at times, fairly promptly.
As you will know, your invoices can go unpaid for some time, be it 30, 60 or even 90 days. This doesn’t help when you have upfront costs for other projects, such as fuel to get to sites, maintenance of vans and tools, insurance bills or even materials for the next project.
Of course, a lack of cash flow can have a massive impact on your business, slowing down progress and growth and commonly causing lots of stress.
Invoice financing for tradespeople is a great way for you to get access to the capital you need at a time you need it.
Typically, you can get up to 90% of unpaid invoices almost immediately.
What does this mean for you? Put simply, it means you will have most of the money you should have received from the invoice to move forward with your business.
You can use the money to pay for whatever you need, be it:
So you never have to struggle while waiting for an invoice to be paid.
There are several benefits to choosing invoice finance for tradespeople.
On the whole, the benefits of using invoice financing mean you can continue running your business smoothly, so you can continue to provide excellent service to your customers, despite waiting for invoices to be paid.
This financing option can be a game-changer for your business. But there are a few things to consider before deciding it is right for you.
The following are some signs that you might benefit from invoice finance for tradespeople.
Most tradespeople will qualify for invoice financing as an option to help them through.
There are a few criteria points to meet, though:
Invoice finance is often a tailored solution to your business, making it flexible for you to manage and maintain control.
Invoice finance for tradespeople can be a quick and simple way to release money when you need it so that you can continue to thrive and grow.
At Honey Asset Finance, we work closely with tradespeople across a variety of sectors to help keep their business running smoothly. Whether you are new to this financing option or you are looking to swap providers, we are here to help.
Our team of finance professionals are experts at all aspects of invoice financing solutions and will walk you through the various types of options.
We partner with leading finance experts in the trade sector, allowing us to offer competitive fees and rates, ensuring you get the most value from your invoice finance facility.
Finally, each of our solutions is bespoke to you based on your cash flow needs and growth goals.
Get in touch with our team today to discuss invoice financing for tradespeople with us. Call us on 01305 239500 or complete our online contact form to request a callback from our friendly team.
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