Food businesses, restaurants, and hospitality companies often face cash flow challenges due to long payment terms, with clients like event planners or corporate catering services taking 30, 60, or even 90 days to pay invoices. For example, a restaurant might wait 45 days for a £10,000 catering invoice, delaying their ability to pay suppliers or cover staff wages during peak seasons. 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 food, restaurant, or hospitality 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 and seasonal fluctuations. Here are the key benefits: Getting started with invoice finance is straightforward and can integrate seamlessly with your food, restaurant, or hospitality 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 provides immediate cash from unpaid invoices, helping you cover expenses during slow seasons (e.g., winter for a beachside café) or stock up for peak times (e.g., summer festivals). 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 food business, restaurant, or hospitality company, providing the cash flow you need to thrive in a competitive industry. 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 Food Businesses, Restaurants & Hospitality
Benefits of Invoice Finance for Food Businesses, Restaurants & Hospitality
Steps to Use Invoice Finance
Frequently Asked Questions
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