News Article

Factoring & Invoice Discounting

Venture Finance launches FastTrack Invoice Discounting

By CreditMan Tuesday, May 3, 2011

• Venture continues to innovate with FastTrack Invoice Discounting

• New service will fund business expansion, improved efficiency and the anticipated boom in refinancing

• Medium-sized companies ideally placed to benefit from streamlined service

In response to a growing demand for fast business finance, independent Invoice and Asset Based Lender Venture Finance has launched a new FastTrack Invoice Discounting service. The new service will help more SMEs capitalise on time-sensitive business opportunities and cover temporary gaps in working capital.

Extending its FastTrack Invoice Finance solution beyond Factoring, the new service enables companies wanting a standard facility to release finance from their assets in a matter of days, to boost cashflow and fund new deal opportunities such as management buy-outs, management buy-ins and mergers and acquisitions.

Venture arranges an initial meeting within 48 hours of first contact, quickly assesses the business needs and works to deliver a fully operational finance facility within just five days. The proposition is aimed at companies, with an annual turnover between £500k and £5m and an established, well-run credit-control function that continues to handle debt management.

Peter Ewen, managing director of Venture Finance, comments: “According to our research and other industry news, SMEs are still struggling to access the right finance at the right time to embrace new growth opportunities. We saw an opportunity to fill this gap in the market, without sacrificing service for speed, as part of our continued commitment to increase business confidence and support a sector lauded as the engine of UK economic growth.”

Venture works across all sectors including recruitment, manufacturing, wholesale and distribution, service businesses, transport and logistics, and IT and communication. It launched FastTrack Factoring in the UK in 2009 and this has proved popular with clients and introducers alike.