IT companies seeking flexible business finance are increasingly using factoring, invoice discounting and other invoice finance facilities to fund expansion rather than traditional overdrafts and business loans.
Whether your firm is developing cutting edge technology or providing service innovations in an increasingly competitive environment, securing a reliable and effective source of capital is crucial to success.
Cashflow is vital to any expanding IT company as it allows you to target new business safe in the knowledge that you have the funds needed to deliver contracts, without draining your company of liquidity.
Access to working capital is also essential if you are looking to invest in developing new products and services, establishing sales channels, building your brand or recruiting skilled individuals.
Invoice finance, which includes factoring and invoice discounting, is well suited to firms in the IT industry as it can quickly release the cash tied up in your business’ existing assets, such as its sales ledger, equipment and property.
Lloyds TSB Commercial Finance can help your company to:
- Bridge the gap between the initial outlay on the hardware, software and labour costs needed to fulfil new agreements, and when the customer settles the invoice
- Gain a competitive advantage by releasing the funds needed to make significant investments in the company’s strategic expansion such as research and development or establishing new products or services
- Fund strategic acquisitions of complementary businesses which enable your firm to quickly gain scale or extend its geographical reach
- Unlike many traditional funders, we base our lending decisions on the strength of the management team and its ability to deliver the growth strategy rather than its historic trading.
We have over 25 years experience supporting IT companies and our flexibility allows us to consider sales ledgers outside the traditional mould.
Many finance providers avoid factoring short-term contracts, but our ability to tailor facilities specifically to your business ensures we are able to fund companies where project work is a considerable proportion of their sales ledger.
Contact us to find out more about how Lloyds TSB Commercial Finance’s funding solutions could assist your IT business.
Alternatively to find out how much you can raise by using our factoring and invoice discounting services, use our quote engine.
The provision of credit or leasing services by us is subject to your meeting our Credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.