Choose a Factoring Company in Newcastle You Can Trust for Accounts Receivable Financing

For many people in Newcastle, running a catering company can be a dream come true, but ensuring business success is no simple task. First, you need to serve high-quality dishes that guests will love, and your staff must offer an exceptional level of customer service to help you secure repeat business. Plus, you need lots of equipment both for cooking, cleaning, and transportation, and all that plus the cost of wages can be costly. Of course, the investment will be worthwhile once you receive payment, but that may take weeks or even months.

Unfortunately, even though you might agree to the terms of payment, you may need cash in the interim to keep your company running. If you’re relatively new to the industry or operate on a small scale, you might not have enough personal funds to cover your expenses until the customer pays. In this case, you could max out your credit cards and pay huge interest rates, borrow from the bank and be required to meet monthly repayments plus interest, or you could find a factoring company in Newcastle that provides accounts receivable financing.

At Nova Business Finance, we can provide financing when the banks won’t approve a loan, and our form of funding is more beneficial for many reasons. We can often transfer the cash to you in less than 24 hours whereas banks may take weeks or even months just to process your application. Plus, banks often won’t consider you for a loan unless your company has operated for over two years and can secure the loan against valuable assets. We, however, provide cash through accounts receivable financing, so if clients owe you money and you have the invoices to prove it, you can secure money without borrowing or taking risks, and we’ll be responsible for getting the money from your customers.

Accounts Receivable Financing in Newcastle

Accounts receivable financing, commonly known as invoice funding as well as factoring finance, is a fantastic way for you to obtain money when you need it. Here’s how it can help:

  • Don’t reject new clients – You might find yourself in a situation where you can’t take on extra work until previous clients settle their invoice, which is the last thing you need when trying to gain a competitive edge. Fortunately, with accounts receivable financing, you won’t have to refuse any new customers.
  • Obtain money quickly when you need it the most – For a broad range of reasons, you might find yourself lacking the capital to continue with business as usual, in which case factoring financing in Newcastle can be a big help. We can usually transfer the cash to you in as little as 24 hours.
  • No more chasing clients – When we approve financing, the burden of chasing up clients falls on us, leaving you to focus on more productive and profit-focused tasks.

Contact Us Today

If you need money quickly and have customers with unsettled invoices, we’re here to help. We’re a factoring company in Newcastle that specialises in providing financing for small to medium sized businesses, meaning you don’t have to let bank loan rejections hold you back when you’re trying to get ahead. Call us today to find out more about accounts receivable financing.