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Flexible finance: How invoice finance helps new agencies

Finance • Apr 30, 2024 9:19:00 AM • Written by: Georgia Reynolds

Starting the journey of a new recruitment agency is very exciting filled with dreams of success and impact. However, during all the excitement, lies the daunting challenge of securing adequate funding. According to recent studies, a staggering 82% of new businesses struggle with cash flow issues, highlighting the widespread need for accessible financing options. Traditional business loans often come with their own set of hurdles, from hefty interest rates to stringent commitments, leaving many new agencies struggling to keep their heads above water.

But fear not, there exists a light of hope in the form of invoice finance – a dynamic solution tailored to meet the unique requirements of new businesses. In this blog, we discuss why invoice finance is the lifeline that new start agencies desperately need.

" We're committed to empowering new agencies every step of the way. Our team is dedicated to providing personalised assistance and guidance to ensure that your financing needs are met with precision and care."

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How it works

Invoice finance is a way of providing finance against unpaid invoices. Invoices raised for work done are assigned to the invoice financier who then provides finance upfront to help the business with payroll costs, overheads, and profit. The advances made are repaid when the customer pays the invoice. This gives important access to immediate cash flow when otherwise a business would wait up to 60 days for payment.

Finance flexibility from Giant Finance +

Invoice finance is super flexible. At Giant Finance+, we're experts in funding invoices for recruitment agencies. With our help, agencies can say goodbye to tight cash flow problems.

  • Unlimited funding: No longer bound by a limit, agencies can breathe easy knowing that as long as their invoices are within credit limits, Giant Finance+ has their back for each invoice.
  • No concentration limits. We understand that in recruitment one customer can often be a large part of your business, provided they are of sound credit quality we do not apply restrictions on this, unlike standard invoice financiers
  • Cost-efficiency: Say goodbye to the fear of additional costs. Giant Finance+ offers a seamless experience with a % fee rate which is transparent with no extra charges for finance. No minimum fees as per other finance facilities
  • Adaptability: The business landscape is ever-evolving, and so is Giant Finance+. Whether it's a sudden surge in hiring demands or a lull in recruitment due to external factors like teacher strikes, we stand ready to adapt and support agencies through every twist and turn.

Tailored solutions for every need

Unlike the one-size-fits-all approach of traditional financing, invoice finance is designed to cater to the specific requirements of different industries. For recruitment agencies, this means 100% finance and weekly payments to ensure smooth sailing in meeting payroll obligations.

Furthermore, our invoice finance builds flexibility for industries that have seasonal differences. Take education recruitment agencies, for instance, where hiring needs fluctuate significantly during school breaks. With no minimum fees charged, agencies can enjoy breaks without incurring additional costs, allowing them to navigate seasonal revenue reductions with ease.

Invoice finance is a lifeline for new agencies, offering flexibility, tailored solutions, and peace of mind. With it, your agency can focus on what matters: growth and impact. So, to all the aspiring agency founders out there, know that with invoice finance, your dreams are within reach.

At Giant Finance+, we're committed to empowering new agencies every step of the way. Our team is dedicated to providing personalised assistance and guidance to ensure that your financing needs are met with precision and care. Whether you have questions about our services, need assistance with the application process, or simply want to learn more about how invoice finance can benefit your agency, we're here to help. Don't hesitate to reach out to us for any further information or inquiries at hello@giantgroup.com

 

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Georgia Reynolds

Marketing Coordinator – Content