Access To Finance When You Need It...

Financing Your Book Debts Made Simple For Your Business

With the major banks reducing their support to businesses, Finance Companies have stepped up in a big way, and they’re lending like never before. You just need to know where to look.


Take a look at your humble mobile phone. It most likely has a nice touch screen with fantastic resolution. It’ll have comprehensive internet capabilities, and apps that do everything under the sun. If you’re like me, you won’t be able to believe the changes made over the past ten years. We've come a long way since the old school Nokia!


Well the same is absolutely true with raising finance and using your book debts as security. There are various ways to implement book debt financing within your business.


Book Debt Financing Options


Option 1: Selective Invoice Finance: Use It When You Want To

With Selective Invoice Finance, you select some of your invoices (depending on how much you wish to borrow) and receive an advance from the finance company. Once you are registered with the finance company, a payment is normally made within 24 hours. You then repay the amount advanced when you get paid. It’s a simple process, and there’s no reason to let anyone know you’ve sought finance.


One finance company even offers free software that can help you collect your book debts more easily. It assigns your clients a credit rating and monitors their credit worthiness. This reduces your chances of a bad debt.


Benefits to you:

• No contract or annual commitment, use the facility as much or as little as you wish.

• You can put some Uncertified Applications for Payment through, providing you have dealt with the client before.

• No personal guarantees.

• It’s simple and hassle free.


Option 2: On-Demand Invoice Finance Facility

The finance is provided without upfront fees, annual contracts or commitments from one of Europe’s biggest hedge funds. You can credit assess your prospective and existing customers for FREE! This is done automatically with software in your accounting system.


This could transform your cashflow:

• You’ll reduce debtor days, improving your cashflow.

• You’ll reduce your chances of accruing bad debt as every debtor is

automatically risk assessed.

• The entire debtor book has a simple colour coded bar, which shows the risk of your entire debtor book.

• An instant finance facility is offered next to your outstanding invoices that you can use whenever you wish to (you still collect the debt as normal), and there is no personal guarantee from the Director. The fee for this is only paid when the invoice is paid, and is amongst the lowest across the industry.


You simply pay a small percentage of the invoice you have drawn money down against, if and when you choose to.


Minimum requirements for the on-demand invoice finance facility?

Simply that your Company has been trading for over 12 months and has a turnover of more than £100K per annum.


If this sounds like the kind of solution that you like and your business needs, please get in touch. We have established a fantastic relationship with this finance company and can certainly help you.

Option 3: Business Loan Secured Against Book Debts

in the case of a business loan secured on your book debts, the finance company takes a charge on your existing debts like the Bank’s used to do. This can provide you with a loan from £20k to £5m+.


Now the benefits of this to you are:

• A Fixed rate of interest over 12 -24 months.

• Interest only payments, you can make payments at any time to reduce the loan, or roll it over at the end of the period.

• There's no personal guarantee, as the loan is secured on the book debts and assets of the company.


We're confident that at least one of these solutions will work for your business but please remember that there are 92 companies that can lend you money on your book debts. You essentially have the choice between heaven and hell. The wrong finance company will end up causing you major issues.


This is where Mark can make a massive difference for you, taking you to the right finance company to suit YOUR business.


You're very welcome to get in touch with him and let him leverage his contacts and experience to help you.

3 Reasons Why Book Debt Financing Is Different Now...

Good morning to you, I just wanted to thank so many of you that have rung me recently and said:

“Hi Mark, I have been receiving your emails for so long, you seem to be like an old friend”


When I mention using your book debts to raise finance, I normally brace myself for:

“Ugh you mean Factoring”


Well not as you know it


“I don’t want to know about that”


Please read the 3 points below and then call me and tell me what would suit you in an ideal world

“I or a friend of mine did it once and it was a disaster”

I am afraid it can be if you go to the wrong Company, at the last count there were 92 companies who would lend money on book debts. You really need some advice from someone who knows.

Disaster or joy it’s your choice, go direct or take advice, would you take your family across the North Sea or would you go with a Captain who knew the way?


In the “old days” if you are 45 or under, this is really true, when you needed Finance for your Business, you went to the Bank Manager, ran through your needs and if it passed the “common sense test” the answer was normally yes, if you had a good manager.


Well things have changed and so have Finance Companies who lend on book debts. Are you aware of the following?


Number 1

Do you run your accounts on Sage One, Quickbooks Online, Freshbooks, Xerox, Freeagent,or Kashflow?


Well if you do, how about this (and if you don’t we can still fund single or multiple invoices without an annual charge or any commitments )


As mentioned earlier, there is a Finance Company that will that will give you an entirely free App add on.


This risk assess’ every one of your clients and potential clients, rather nice to have when taking on a new client!


This simple app gives you a figure next to the raised invoice on what you can have as an immediate advance, should you wish an immediate advance.


No charges or contracts to sign, you just pay a charge if you choose to have an advance and nothing to pay if you don’t.


Minimum requirement is that you have been trading for 12 months.


Number 2

How about giving me a check list of what you would ideally want in a full finance arrangement, we can arrange finance for virtually all clients with all credit ratings.

You could wish for 1 or all of the following:

• A Finance Company where you can speak to a decision maker
• A Finance Company that truly understands your Industry Sector (this is the prime reason where businesses have real issues with a Finance Company, they listened to the salesman, who said they would be fine)

If the Finance Company does not understand your business it is a recipe for disaster, as there will be only 1 loser, this can be so easily avoided you are welcome to call me and ask any questions

• No concentration limits on your clients or you might just have a couple of clients that you wish to Finance
• Receiving payment on Uncertified Applications for Payment and or getting an advance on the take on of a project for supplies to do the job.
• If you have a straight forward business, you might just want the cheapest deal
• A Finance Company that never speaks to your clients

Number 3

This is for Companies turning over above £1.5m and who have accounts showing a profit.


We have a relationship with an extremely well-funded non high street Bank that have an enviable reputation with the way they treat their clients, their client retention is the envy of the Banking World.


They will look at MBO’s and Phoenix Companies, provided there is a good management team in place.


Most bank managers have 150 plus Companies to look after. With this bank it’s usually around 40 to 50 and the manager will probably have a personal discretion of £350k.


This means if you have a request to do or fund something, it can be dealt with over the phone with instant funding.


I started writing this early Sunday morning, it’s getting late now and Mrs Smillie is looking for a bit of quality time with her husband and some lunch.


If you have any questions or queries about Business Finance, then why not pick up the phone and have a chat, the easiest number to reach me on is my mobile 07710 466166.


I am very lucky to love what I do so time wasters are welcome, I do enjoy a challenge.


Best wishes,





If you are new to my e-mails, please look me up on LinkedIn or tap in Ringrose and Co and/or Mark Smillie into Google.

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