GrowNorth can facilitate the ideal invoice finance solution for your business, breathing life into your cash flow and reducing your reliance on inflexible bank overdrafts. We work with a wide variety of lenders in the market and offer invoice discounting, factoring and construction finance.
Up to 90% of the value of unpaid invoices are immediately accessible
Bad debt protection available
Fast and easy to set up
Provides finance secured against your debtors
Flexible and efficient funding method
As you grow your facility will grow with you
The initial form of Invoice Finance many enter in to is Factoring. Factoring is a flexible funding and collections service. This flexible service gives businesses the cash they need, when they need it. Factoring can release cash tied-up in outstanding invoices within 24 hours. Up to 85% of invoice funds can be instantly available as business funding using invoice financing methods.
If you want to continue collecting payment from your customers so you keep your current relationship with them but would like funding support, Invoice Discounting is for you.
With Invoice Discounting, you continue to collect your own payments, but the lenders fund up to 90% against outstanding invoices. We understand particular industries have particular Invoice Finance needs, so this service can be tailored to support the individual needs of your business.
Construction Finance is specifically designed to support construction firms. Our lenders are experienced in funding sub-contractors across a variety of sectors working under various contracts; they provide uniquely tailored funding solutions.
It offers a cash advance against outstanding billing, helping to bridge the gap between raising bills or applications for payment and getting paid. Our lenders are unique in the marketplace, funding is available against uncertified applications for payment, giving you faster business funding than waiting until applications are certified. They also provide credit control and sales ledger management services on a confidential basis, so your customers needn’t know you are using invoice finance.
We can also arrange bad debt protection; this offers you complete peace of mind against the risk of non-payment, as the protection covers up to 100% of the outstanding invoice
Our invoice finance services can be modified to suit your business requirements so you will get the funding that’s right for you.