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August is a good time to review your invoice discount rates…

1. Ensure you are getting the best overall deal – not just on the rate but all aspects.
2. Review annually, or ask us to – to see what’s changed in the market
3. Underpin and agree credit levels especially on customers who have had allocation reductions.
4. Maximise your draw-down facility, you don’t have to use it all but agree beforehand, not when suddenly required.
5. Get Companies that you do reciprocal business with, to be approved when taking out the facility.
6. Insure bad debt protection is where you need it and not where it isn’t required.
7. Keep control – look after your own customers and aged debt where you can.
8. Get maximum coverage on exports – this is avoided by some lenders
9. Compile in a client case taken for your business plan, share your vision for the company – we can help compile this with you.
10. Deal with a company who wants your business with mutual respect, and an appetite for a long-term relationship

Whether you are using Invoice finance for the first time or looking for a change we’d be pleased to help

If you would like to speak to us about your own cash strategy or to explore finance options, please email us at: info@thebusinessboard.co.uk or call our office number on 0845 337 3327.

We look forward to speaking with you.

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    Published On: August 14th, 2019 / Categories: Business /