Engineering and industrial trades businesses often face cash flow challenges due to long payment terms, with clients in sectors like manufacturing or construction taking 30, 60, or even 90 days to pay invoices. For example, a machinery supplier might wait 60 days for a £50,000 invoice, delaying their ability to pay suppliers or take on new projects. Invoice finance offers a solution by allowing you to borrow against your unpaid invoices, providing immediate access to cash. In this guide, we’ll explore how invoice finance can benefit your engineering or industrial trade business, the steps to get started, and how NexGen Business Finance can help you maintain steady cash flow. Invoice finance can transform your cash flow management, especially in industries with delayed payments. Here are the key benefits: Getting started with invoice finance is straightforward and can integrate seamlessly with your engineering or industrial trade operations. Follow these steps: At NexGen, thanks to our relationships with over 95 lenders, we can often process invoice finance and release funds within 24-48 hours after receiving your invoices. Yes, invoice finance often focuses on the creditworthiness of your clients, not your business. However, terms may vary, so we recommend discussing your situation with our team. Invoice finance works well with project-based billing. You can submit invoices for completed project milestones (e.g., a £20,000 invoice for a machinery installation) and receive an advance, ensuring cash flow while awaiting client payment. Costs vary but typically include a fee of 1-5% of the invoice value, plus interest on the advance. We can help you find competitive rates tailored to your business. Our terms are transparent. We’ll outline any applicable fees, including early repayment charges (if any), in your agreement before you commit. Invoice finance can be a game-changer for your engineering or industrial trade business, providing the cash flow you need to take on new projects and grow. At NexGen Business Finance, we’re here to help you find the best invoice finance solution. Contact us today to get started.Invoice Finance for Engineering & Industrial Trades
Benefits of Invoice Finance for Engineering & Industrial Trades
Steps to Use Invoice Finance
Frequently Asked Questions
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