Look what’s making a comeback!
Those of you in business some time may recall when Supplier Finance products like Earlypay or Supplyline were widely available from banks to businesses.
These products disappeared overnight, probably due to little requirement or uptake.
But now they’re making a comeback.
Supplier Finance could be described as reverse factoring or supply chain finance, in which the financial institute pays the supplier upfront, providing the business with extended credit or the option to avail of early payment discounts.
Flexible, Top-up Finance
Best suited to financially strong companies, this flexible finance is ideal for companies that want to free up cash flow to pay key suppliers. It offers ideal “top-up” finance for companies that have hit their bank limit. Moreover, it can be used in conjunction with Invoice Finance and doesn’t impact on any other existing funding arrangements. Importantly, it is made available without the need for personal guarantees or debentures.
Ideal for Construction or Retail Sectors
A flexible finance option which can be put in place quickly, Supplier Finance can be an ideal solution for companies that are not suitable for Invoice Finance due to the nature of their business, such as the construction or retail sectors.
If you are interested in availing of Supplier Finance and need assistance, or would just like to know more, please contact Niall Dennehy for further details.