The trends of lending have certainly changed over recent years. Once seen as an embarrassing last resort, Invoice Finance rapidly gained popularity and shed its stigma following the financial crisis. There’s been no sign of it slowing down as we’ve moved into a period of recovery and IF is now more widely used and accepted than ever. More and more independent organisations have entered the rapidly expanding sector while the IF divisions of long-established banks have gone from strength to strength, growing and changing to keep up with the demands of the marketplace. Use of Invoice Finance was up 12% year on year in Q3 2014 while traditional bank lending was down 21%. So how did we get here?
After the recession, Invoice Finance presented a safe way of lending to businesses and the way it’s used has quickly changed – for many companies now it’s no longer primarily a stopgap measure to release capital in order to pay bills, but instead a way of enabling them to grow and reach wider markets. For many startups, for example, Invoice Finance will be a vital part of their expansion and development plans.
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