Ashley Challenges Commercial Finance Sector at Ten Year Celebrations
Small business invoice finance specilaists Ashley Commercial Finance celebrates ten years in business this quarter. Celebrations coincide with a strategy for expansion and a drive to spread the word about how beneficial invoice finance is for a growing proportion of businesses.
20% of SMEs use an overdraft. This compares with 3% who use invoice finance to fund their business*. As well as using Invoice Finance for financing reasons, a growing number of businesses are looking to avoid the hassles of chasing late payers. Using invoice finance professionals to chase debts suggests, as a spokesperson from Business Link points out, that smart businesses are; “Busy doing what they should be doing, rather than spending time chasing debts.”
Managing Director of Ashley Commercial Finance, Jonathan Cranston comments; “Awareness by companies about the advantages of Invoice Finance is still limited, but we are getting there. Clearly the banks have played a part, but they still have a tendency to steer businesses towards an overdraft, which is a very inflexible way of financing a growing business. It’s our role as an independent provider to widen the options available for companies. Businesses should know more about how invoice finance can help their plans for growth before they take up other less flexible financing options. The beauty of invoice finance is that the funding line automatically grows with the turnover of the business so owners are not constantly going ‘cap in hand’ to the funder’s door. Additionally, the business can focus on what they are good at rather than chasing customers for payment. We are looking to accelerate our growth and have recently invested in new marketing and sales initiatives. We provide a truly flexible invoice finance solution and believe that in this era of ‘call centres’ and impersonal service we really do have something different to offer.”
There is a great ‘step by step guide’ to invoice finance and more information about the company at www.ashleyfinance.co.uk
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- Source: Factors & Discounters Association research May 2005.
Photos available from http://www.marketingprojects.co.uk/clientpo/news.asp?id=21
Ashley Commercial Finance is a truly independent invoice factoring company, with no ties to banks or other financial institutions. Ashley provides invoice finance for the smaller business community (including start ups and turnarounds) across England and Wales. Ashley has offices in Manchester, London, Leeds and Bristol. The company has almost 200 clients with turnovers between £50,000 and £1.5 million. They range from printers to road haulage companies, recruitment agencies to taxi firms, recycling companies to IT organisations.
Ashley provides ongoing finance for a business at up to 90% of the value of a client’s sales ledger, which, coupled with professional credit control makes invoice finance an attractive option for a growing business and a smarter alternative to an overdraft. As the facility is based on a percentage of turnover, the funding available grows with the business. Ashley’s independence and lack of bureaucracy means that funding can be in place for new clients to draw down within 24 hours of receiving sales invoices and at the lowest minimum fee. Full Online Account Access enables clients to obtain account information 24 hours a day.
Unlike many other invoice finance companies, Ashley allows clients to choose which accounts they factor, thus avoiding paying unnecessary factoring fees.
In response to client demand, Ashley launched an asset finance facility in June 2005. This is available for anything from computers, telephone systems and office equipment, through to company vehicles, plant and machinery.
There is a great ‘step by step guide’ to invoice finance and more information about the company, which this year celebrates 10 years in business, at www.ashleyfinance.co.uk
Ashley Commercial Finance is a patron of the National Association of Commercial Finance Brokers (NACFB).
Photos (300dpi plus) and further press information available (including press packs) at Marketing Projects’ web site in the press office for Ashley Commercial Finance at http://www.marketingprojects.co.uk/admin/clients/ashley-commercial-finance/articles/how-to-save-money-and-get-paid-wind-rain-or-shine-2/edit
Press Contact: Jane Harrad-Roberts Consultant Director, Marketing Projects Email: jane@marketingprojects.co.uk Mobile: +44 7785 395705 Tel: +44 1244 330000 Press hotline: +44 1244 330101
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