Time Finance and British Business Bank tackle invoice finance myths

Independent lender Time Finance has partnered with the British Business Bank to shine a light on the often-misunderstood world of Invoice Finance, with the launch of a free webinar as part of the bank’s Business Finance Week campaign this October.

The session, titled Invoice Finance Uncovered: Cashflow Solutions for Growing SMEs, will take place on Wednesday 8th October at 10am. It will focus on dispelling misconceptions around the funding solution and highlighting how Invoice Finance can help small and medium-sized enterprises (SMEs) across the UK manage cashflow, fund expansion, and seize new opportunities.

Joining the discussion will be Hertfordshire-based SME Soilex, which currently has a £450,000 Invoice Finance facility with Time Finance. The funding has enabled the business to scale operations, recruit new staff, invest in equipment, and secure new contracts.

Ed Rimmer, CEO of Time Finance, said the initiative comes at a crucial time for UK businesses:

“There are long-held misconceptions that Invoice Finance is only for struggling businesses when in reality, it is a valuable finance tool for growth. By improving cashflow, Invoice Finance unlocks investment opportunities and facilitates growth.

“Earlier this year we surveyed 500 SME owners and found 70% are either unaware of Invoice Finance or actively opt out of using the cashflow solution. Invoice Finance isn’t right for every business, but our webinar will help build awareness of how the solution works and its potential role in businesses’ success.”

Gaynor Dykes, Director at the British Business Bank, added: “We’re delighted to support Business Finance Week and partner with Time Finance to help break down the myths of invoice finance for UK smaller businesses. By dismantling these barriers and sharing digestible insights, we hope to empower more businesses to unlock the funding they need to grow and thrive.”

Echoing the benefits, Alex Collman, founder and Managing Director of Soilex, said: “Invoice Finance has always been a valuable funding solution for Soilex. It aided cashflow for us to get off the ground, and it has been a crucial part of our financial planning and growth since.”

Time Finance currently provides Invoice Finance facilities of up to £5 million, giving businesses access to capital tied up in unpaid invoices and helping them overcome cashflow pressures while planning ahead for growth.

The Invoice Finance Uncovered webinar is free to attend and open to all SMEs looking to better understand the role Invoice Finance can play in supporting business success.