Invoice financing points way for Skipton Business Finance

SKIPTON Business Finance sanctioned a record number of deals in the first quarter of 2012.

The subsidiary of Skipton Building Society believes the increase is because many businesses are switching to invoice financing.

Invoice finance allows a business to borrow money against its sales invoices before a customer has paid them.

Established in 2001, Skipton Business Finance has grown to boast offices in Skipton, Leeds, Manchester and Birmingham.

According to Asset Based Finance Association (ABFA), there are now almost 42,000 companies using invoice finance facilities across the UK as owner-managed businesses continue to struggle to access traditional bank finance.

Andy Grantham, sales and marketing director at Skipton Business Finance, said: “Skipton Business Finance continues to expand its operations around the country, which is being reflected in the record amount of clients we have brought onboard in the first quarter.

“Skipton Business Finance is part of the widely-respected Skipton Building Society and we believe the fact we share our parent’s ethos has helped us build a reputation up and down the country as a flexible, friendly and respected lender.”