ABC Finance launches Invoice Finance comparison tool

on Sep 18, 23 • by • with Comments Off on ABC Finance launches Invoice Finance comparison tool

ABC Finance have announced the launch of an innovative invoice finance comparison tool that allows businesses to quickly compare offers from multiple lenders. The platform was built in an attempt to combat what they see as a needlessly opaque and time consuming process. The tool works by allowing the user to input...
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ABC Finance have announced the launch of an innovative invoice finance comparison tool that allows businesses to quickly compare offers from multiple lenders.

The platform was built in an attempt to combat what they see as a needlessly opaque and time consuming process.

The tool works by allowing the user to input details about themselves and their business. The details are then viewable by some of the leading lenders in the market, such as Lloyds Bank, Novuna and Skipton Business Finance.

The lenders then get one chance to win your business, offering their best terms. If you’re happy with one or more offers, you can then choose to discuss it with your chosen lender. The idea is to offer a ‘rapid tender’ process, giving you an overview of your options in a matter of hours.

You can find the tool on the ABC Finance website.

Funding The Transport Industry

Invoice financing is a key tool for many in the transport industry as it allows you to release funds against your unpaid invoices.

If you’re paid on delayed payment terms, such as 30, 60 or 90 days, and aren’t using invoice finance, you may well be in the minority amongst those in the industry.

While delayed payment terms can result in very slow cash flow for businesses, those using invoice finance can access the funds immediately.

Gary Hemming, Commercial Lending Director at ABC Finance said: “It’s really important to me that we help the general public and business owners to get the perfect product quickly and with no hassle.

To do this, we look at how markets currently operate, the flaws and pain points that this creates and how we can fix this using either front-end or backend tech.

Ultimately, when a potential borrower is looking to raise finance, it is a stressful time and their hope, but often not their expectation, is that the process is made simple and transparent”.

Who can use this?

The tool is designed for businesses who are looking to take out invoice financing, or even those who already use it, and could get a better deal if they reviewed their facility.

For many transport businesses, interest rates are increasing, costs are increasing and cash flow is being squeezed.

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