An innovative, new concept to help you improve cash flow from large customers - MarketInvoice
21 Jun 2013
Late payment is a growing issue for motorsport SMEs, particularly when this is owed from major customers, with turnover exceeding £50m. An innovative new service has been created through on line platform, MarketInvoice (www.marketinvoice.com)
Recently, the UK Government, through Vince Cable, awarded £5 million to MarketInvoice to help them supply £40m to SMEs struggling with getting payment from large companies. To date, on average, these have drawn down £60,000 per visit to the site, and more than 90% return to transact again.
Simply complete a straightforward application on line, nominating specific sales invoice(s) you have outstanding and not necessarily overdue, with large, blue chip customers – and you can raise finance FAST at a low rate of interest and charges. The customer must have total sales revenues exceeding £50 million per year, be based in the UK or overseas, with, at least, one company director resident in the UK.
As a guide, most SME or mid-sized businesses, who contact MarketInvoice, have annual sales between £250,000 and £50 million, and who trade, to some degree, with substantial, credit worthy end-customers.
MarketInvoice helps businesses which are experiencing high growth, have large customers who take time to pay invoices, or see large swings in their cash needs during the trading year. Their large pool of professional investors are willing to bid, via an on line ‘auction’, to advance funds against these specific invoices. This open bidding process produces competitive rates, and funds available within 48 hours of uploading the appropriate invoice.
Using technology linked to active high net worth investors and blue chip investors, to whom they offer a good rate of return, the MarketInvoice service has revolutionised the UK lending landscape – hence the funding from Vince Cable who is challenging the current banking system to improve support for SMEs.
If you recognise your company as being suitable, and are trading with major, blue-chip customers, we recommend you check out the website www.marketinvoice.com today. Please let the MIA team know of your experiences – good or bad!