Invoice financing rises by 63%
Small businesses have increased the amount of cash they bring in through invoice financing by 63% to £711m in the first quarter of 2016 compared with the same period in 2015. SMEs using invoice finance received an average of £52,000 in the first quarter, up from an average of £32,000 in the same period in 2015, according to the Asset Based Finance Association. Experts say such financing has risen in popularity partly due to the reluctance of conventional lenders to lend money but also because it has proved an attractive way to hedge against currency fluctuations post-Brexit.
Source: The Mail on Sunday (17/07/2016)