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Cheap Invoice Finance Companies can be found but ‘cheap’ is obviously relative to other invoice finance providers. Invoice Finance¬†will typically nearly always be more expensive than an overdraft facility, however Invoice Finance offers additional benefits such as flexibility. Smart Factoring Quotes do however have a few lenders at present who claim that they will not be beaten on price so why not help us test that theory for the benefit of your business?

Cheap invoice finance companies will offer the overall lowest fee structure once you have considered the service fee, discounting fee (including the base rate, minimum base rate and discounting margin), audit fees, set up fee, legal documentation fee, survey fee, etc, etc.. The list of additional fees from some lenders can be extensive and unfortunately not always transparent or easy to understand.

When selecting an invoice finance facility and provider my advice would be not to just shop on price. In the first instance you need to see which invoice finance providers can offer you a facility that works for your business and it’s unique circumstances. It is pointless taking up an invoice finance¬†facility that will not provide what you need just because it appears cheap. Find which invoice finance providers can offer what you require and then do the price comparison ensuring you look beyond the headline rates and consider total costs. Remember you will typically be tied in for 12 months with an invoice finance facility.

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