We help Scottish Contract Cleaning Companies to improve their cash flow by releasing
cash that they’ve got tied up in their sales invoices.
I’ve been in business for over 30 years, but one of the questions I’m getting asked
at the moment is ‘How do I improve my cash flow when my customers are struggling to
pay their bills?’
So here’s my best advice. If you’re in the Scottish business-to-business sector you
will be raising invoices for your goods or services and normally you’ll be waiting
45 to 60 days to be paid for those invoices. Now, with the Coronavirus you may have
seen a drop-off in trade. If that’s the case you won’t be raising as many sales
invoices so the amount of money that you’re going to have coming in over the next
six months or so will be significantly reduced.
Now you may well have enough money to get you through to the point where we can get
started again, back up to normal levels, or start to ramp things up again. But, when
we actually get to that point, you’re going to have to wait 45 to 60 days again on
the new invoices that you’re raising.
So you’re going to have a bit of a funding gap between raising the invoice, getting
the cash, and being able to thrive when we come out of this time. So, if you want
to release some money in your invoices, this is where Invoice Finance can come in.
So, Invoice Finance will allow you to have 85 to 90 percent of that invoice in your
bank account to assist your cash flow within 24 hours. At the moment the Coronavirus
Business Interruption Loan Scheme can be used on certain facilities if you qualify
to provide a guarantee to the lender.
Now, this is something that we specialise in here at Playfair Finance and it’s really
easy for us to do the legwork for you to save you from having to go to every provider,
for there are many in the marketplace. We take the application from you, and we then
go out to the market to find the best provider for you based on your sector, your turnover,
and how your business has been trading.
So, we save you the time, but we can also find you the best deal.
Now, the best part of that is that actually, there is no charge for our services to do that.
The charges are actually paid by the lender so you don’t have to pay anything at all.
So, if you’re a Scottish Contract Cleaning company and you would like some help with Invoice
Financing, please get in touch.