This comparison service is provided by Touch Financial Support Ltd.
Touch Financial is a leading UK invoice finance broker which works to help businesses find the right products for their needs. They compare invoice financing services from a range of different lenders, aiming to find the one that best suits the needs of their business customers. Touch Financial consultants look at the profile of each business, including cash flow, accountancy needs, and any other specific requirements, to match them with the most appropriate invoice finance provider and product. Touch Financial is a trading name of SFP Brokers Limited, authorised and regulated by the Financial Conduct Authority (FRN: 727220). Touch Financial is a broker not a lender.
ABN AMRO Invoice Finance FAQs
Who is ABN AMRO?
ABN AMRO is a Dutch bank that provides commercial finance solutions to UK businesses. They provide a number of asset-based lending products, bad debt protection and invoice financing options.
What is invoice financing?
ABN AMRO invoice financing allows a business to borrow sums of money against the amount they expect to earn on their outstanding invoices to clients. It can be a useful way of boosting cash flow, allowing business owners to pay wages, spend money on business infrastructure and invest in future growth.
Are there different types of invoice financing?
Two common invoice financing products ABN AMRO and other providers offer include factoring and asset-based financing. Factoring allows a business to sell invoices to a factoring company. Once sold, the factoring company is able to offer payment shortly afterwards.
Asset-based financing offers a revolving line of finance, using invoices as collateral. Asset-based financing is often seen as an option for businesses that sits in-between factoring and seeking an actual line of credit from a bank.
What are the funding limits on invoice financing from ABN AMRO?
The funding limits on ABN AMRO invoice financing, as with all invoice financing, are determined on an individual case by case basis. The big factors that will affect the funding limits will be the value of the invoices a business has out with their clients and the credit rating of the company as a whole.
What challenges are there for a business seeking invoice financing from ABN AMRO?
As invoice financing revolves around business invoices themselves, a poor credit history and inaccurate invoices are the two biggest challenges in accessing invoice financing. These issues can delay things or bring the process to a halt altogether.
What are the benefits of invoice financing with ABN AMRO?
Invoice financing from ABN AMRO can help a business owner access cash flow and invest money into their business quickly. The alternative might be to wait until revenues are paid in from customers, which in some cases can take months. If a business has financial liabilities that fall before their revenue from customer invoices comes in, invoice financing is one way of meeting these.
What is the difference between a business loan and invoice financing?
A business loan is a more conventional way for a business to borrow money. Banks provide loans and require businesses to present credit history and collateral or assets, to limit risk during lending.
In contrast, invoice financing is sought by businesses wishing to actively turn invoices into working capital. Applications only require collateral in the form of an invoice itself, and invoice financing can often be quicker than applying for a business loan, and potentially less expensive.
What should I look out for when seeking invoice financing from ABN AMRO?
As when seeking any kind of financial product, you should always carry out adequate research before agreeing to anything. The best providers of invoice financing will be subjective, depending on your requirements. Be mindful of potential hidden costs or fees.
How does invoice financing differ from provider to provider?
ABN AMRO is just one of many providers who offer invoice financing services. Different providers have their own requirements. Some might offer high limits, or quicker receipt of funds than others. Always carry out the necessary research, to find the provider who can service your requirements best.
What invoice financing products do ABN AMRO provide?
The most common forms of invoice financing ABN AMRO provides include invoice factoring, with a full service for businesses, as well as providing invoice discounting and asset-based lending.
How do I compare ABN AMRO invoice financing?
If you’re keen to compare the invoice financing ABN AMRO provides with other lenders, Touch Financial is here to help. Touch Financial specialises in comparing invoice finance providers and use a special in-house system to help match the right products to each business, whatever their needs.
Services offered by this provider may change over time. Always check Ts&Cs.