Gener8 Finance offer invoice finance facilities to the true SME’s of the market. They also approach things slightly differently to most independent invoice finance providers. They operate on a flat monthly fee in comparison to fees that are charged by way of a percentage of turnover. This fee is based on the size of the facility you require. They will also consider ‘invoice discounting’ facilities for smaller businesses which most invoice finance lenders won’t.
The business was started by Dave Richards who was previously at IGF after he had done some analysis of what the market wanted. I understand a lot of this analysis was done while acting as a broker. I think the approach was developed in part to meet client needs and in part to come up with a unique offering.
Has the new approach worked? The feedback I have from Gener8 Finance is that things are going well which is good and they have been able to expand their sales force which backs this up.
From my side I am not sure the flat fee structure is really revolutionary but I sense it appeals to some clients and can be perceived to be cheaper. Personally I am not convinced it is cheaper but I can see why the approach would appeal to SME’s who want to be able to budget. I am also not sure a true invoice discounting product is offered but I don’t see that as an issue.
If you are an SME and you are looking for a suitable invoice finance provider then it is worth contacting Smart Factoring Quotes to see which lenders are best placed to meet your needs.
