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United Kingdom
SME Invoice Finance serves to cut through the lending confusion, helping and directing businesses to the right invoice finance product best suited to their business requirements. Making the process of finding finance as straightforward as possible.
Our professional team is committed to delivering an exceptional level of service to our customers and are proud to support UK businesses through times of change.
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Sorodo Limited. St Andrews Park Queens Lane Bromfield Industrial Estate Mold Wales United Kingdom CH7 1XB
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What core service does SME Invoice Finance provide?
The company specializes in invoice finance, which allows businesses to unlock cash tied up in unpaid invoices. By advancing a significant percentage of the invoice value, it helps companies improve cash flow and manage working capital effectively without waiting for standard payment terms.
How does the invoice finance process work?
The process involves submitting invoices to the provider, who then advances the majority of the funds—often within 24 hours. Once the customer pays the invoice, the remaining balance is released to the business, minus a small service fee.
What are the primary benefits of using invoice finance for a business?
Using this service provides immediate access to working capital, which can be used to pay staff, cover overheads, or invest in growth opportunities. It removes the pressure caused by long payment cycles from clients.
Is invoice finance suitable for small businesses?
Yes, the service is specifically designed to support small and medium-sized enterprises. It provides a flexible funding solution that grows alongside the business, making it an ideal alternative to traditional bank loans or overdrafts.
How quickly can a business receive funds after applying?
Once an application is approved and the facility is set up, funds can typically be advanced within 24 hours of an invoice being submitted, ensuring businesses have rapid access to the liquidity they need.
Does the company offer confidential invoice discounting?
Yes, confidential invoice discounting is available. This allows a business to retain control over its own sales ledger and credit control processes, meaning customers remain unaware that a third-party finance provider is involved.
What is the difference between invoice factoring and invoice discounting?
Invoice factoring typically includes a sales ledger management service where the provider handles collections. Invoice discounting is usually confidential, allowing the business to maintain its own credit control processes while still accessing the cash tied up in invoices.
Are there specific industry requirements to qualify for invoice finance?
The service is available to a wide range of B2B sectors. As long as a business provides goods or services to other businesses on credit terms, it is likely eligible to apply for an invoice finance facility.
Does the company require personal assets as security?
Invoice finance is primarily secured against the value of the outstanding invoices themselves rather than physical assets like property. This makes it a more accessible form of funding for many businesses compared to traditional bank lending.
How can a business get a quote for invoice finance?
Interested businesses can request a quote by providing basic details through the website. A representative will then assess the specific needs of the business to provide a tailored funding solution.
What happens if a customer pays late?
The finance facility is designed to bridge the gap caused by late payments. Because the funding is linked to the invoices, the business has the cash available immediately, reducing the impact that slow-paying customers have on daily operations.
Is it possible to use invoice finance for only a portion of the sales ledger?
Yes, some facilities offer selective invoice finance, which allows a business to choose specific invoices to fund rather than committing the entire sales ledger. This provides greater flexibility for managing cash flow on a case-by-case basis.
Does the company provide support for businesses with bad credit?
Approval is based largely on the creditworthiness of the business's customers rather than just the business itself. This often makes invoice finance easier to obtain than traditional loans for companies with a less-than-perfect credit history.
Can startups apply for invoice finance?
Startups that trade with other businesses on credit terms are eligible to apply. The focus is on the quality of the invoices and the creditworthiness of the customers, which can be a significant advantage for newer companies.
How does the company handle communication with clients?
The company provides direct contact options through its website, allowing business owners to speak with finance experts who can explain the various funding options and help determine the best fit for their specific cash flow requirements.
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