- 13 March 2014
- Posted by: Lucinda
- Categories: Clancy Cashflow Solutions, Factoring, Invoice Discounting, Invoice Finance
This may surprise you, but many Irish business owners have little or no idea of the alternative sources of working capital finance available in Ireland. They are unaware of such products as Invoice Discounting and Factoring.
It certainly surprises me, especially in today’s economic environment where, for the past few years, businesses have found it increasingly difficult to obtain funding from the banks.
While the first call is usually the bank, the banks can be slow, credit may already be capped, or a business may fall outside lending criteria. At this point, the owner may throw in the towel, not realising there are many more funding options out there.
I see this all the time – business owners turning away orders, or walking away from an opportunity because they don’t have sufficient working capital. It’s at times like these that business owners should be looking at alternative funding such as Invoice Finance.
As well as being cost-effective and simple to use, Invoice Finance allows a business pursue growth opportunities, while keeping control of cashflow.
At Clancy Cashflow Solutions we know a lot about Invoice Finance and other related products, and we can help business owners work out which is the best product for their company. We can even help companies that have been turned down for Invoice Finance by another lender for whatever reason.
That’s good to know, isn’t it?