Venture Finance launches ‘fast-track’ invoice facility

ASSET-based lender Venture Finance has launched a “fast-track” invoice discounting service to provide finance to businesses more quickly.

The Salford Quays-based lender said it can arrange a facility within five days of an initial meeting.

It is aiming the service at companies with a turnover of between £500,000 and £5m which need the cash to boost cash-flow or fund deals.

Regional director Debbie Bell said: “According to our research and other industry news, small and medium-sized enterprises (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 Finance is part of the ABN Amro Group – formed last year from the merger of the Dutch parts of ABN Amro and Fortis bank. It is owned by the Dutch government.