(PRWEB) June 05, 2011
In response to a growing demand for fast business finance, independent Invoice and Asset Based Lender Venture Finance has launched a new FastTrack Invoice Discounting service. The new service will help more SMEs capitalise on time-sensitive business opportunities and cover temporary gaps in working capital.
Extending its FastTrack Invoice Finance solution beyond Factoring, the new service enables companies wanting a standard facility to release finance from their assets in a matter of days, to boost cashflow and fund new deal opportunities such as management buy-outs, management buy-ins and mergers and acquisitions.
Venture arranges an initial meeting within 48 hours of first contact, quickly assesses the business needs and works to deliver a fully operational finance facility within just five days. The proposition is aimed at companies, with an annual turnover between £500k and £5m and an established, well-run credit-control function that continues to handle debt management.
Peter Ewen, managing director of Venture Finance, comments: “According to our research and other industry news, SMEs are still struggling to access the right finance at the right time to embrace new growth opportunities. We saw an opportunity to fill this gap in the market, without sacrificing service for speed, as part of our continued commitment to increase business confidence and support a sector lauded as the engine of UK economic growth.”
Venture works across all sectors including recruitment, manufacturing, wholesale and distribution, service businesses, transport and logistics, and IT and communication. It launched FastTrack Factoring in the UK in 2009 and this has proved popular with clients and introducers alike.
For more information, images or an interview with Peter Ewen please contact:
Lauren Greatorex or Clare Granville at Man Bites Dog
01273 716 820
About FastTrack Invoice Discounting
FastTrack Invoice Discounting is a new service from Venture Finance. For companies with established accounts payable and credit-control capabilities, this is the swift, no-nonsense way to unlock the value of invoices and boost cashflow.
Venture’s experienced team of professionals will set up an initial meeting within 48 hours of first contact. One visit and a same-day survey are often all it takes for an in-principle decision and indication of finance available.
Venture aims to make the facility available within five working days from the first meeting. There is also the option of Bad Debt Protection – and unlike many competitors, Venture provides up to 100% cover. Venture Privilege – a pre-approved cash advance facility that can be drawn down whenever it’s needed – can also be added to suitable applications. Clients who wish to access the Enterprise Finance Guarantee or Asset Based Lending should enquire about our comprehensive Invoice Discounting service.
About Venture Finance
Venture Finance is an award-winning independent Invoice and Asset Based Lender, established in 1989. Venture provides Factoring Companies, Invoice Discounting, Export Finance, Structured Finance and numerous related services to start-ups through to £150m turnover organisations. Providing consistent support via its 200+ staff and 11 regional offices, Venture helps clients manage cash flow, refinance, restructure, fund business opportunities and expansion, purchase new equipment and finance M&As. Venture is part of the ABN AMRO group and ultimately owned by the Dutch Government.