November 2016 - First 4 Commercial

The Benefits of Bad Debt Protection

For small businesses especially, one of their biggest concerns is being able to hold customers accountable to their invoices. Not being able to secure payment on invoices could be critical in terms of financial and business growth, and bad debt protection offers a solution.

Clears New Customers – A bad debt protection service gives you the confidence to take on new customers, after we have checked them to ensure they are pre-approved as having good a good credit history. You need to be able to rely on customers paying on time, so as not to negatively affect your cashflow.

Fast Resolution on Client Insolvency – Another aspect of bad debt protection is the service that helps clears matters up when a client become insolvent. We will look after the process on your behalf, dialoguing with the insolvency practitioner and ensuring we resolve the issue and get you your money as soon as possible.

Expert Help at Every Stage – From brand new clients, to regular customers who are starting to pay later, or look like they may be at risk of suffering a financial problem, bad debt protection gives you that peace of mind with an expert at hand to offer advice and judgment.

We’re keen to help you put together a plan to protect your business in the event of customers owing you money. To find out more about our bad debt protection services call First4Commercial today and we’ll be happy to discuss the finer points and set something up on your behalf to minimise your exposure to bad debts. We are here to help.


Advantages of Invoice Discounting

Invoice discounting allows companies to grow, using unpaid invoices as collateral for a loan. So you can receive a portion of the invoice upfront to assist with cashflow, and the rest when the invoice is paid in full (minus a small service charge).

No Need for Assets to Secure a Loan – In order to access the finance related to invoice discounting you are not required to own any assets. Not every business, especially a new one where cashflow is required, owns their property or other high value assets to be used as security against a loan.

Private & Confidential – You might not want your clients to know you are using their unpaid invoices against a loan. Invoice discounting is completely private, allowing you to remain in control of all credit collection with your clients.

Maintain Control – You can’t take more cash out than will be available from the invoice you are discounting, ensuring that you remain within limits that won’t harm your future financial stability.

Customise – we are always looking to help you as best we can with a wide range of financial services to help your company grow. This includes bad debt protection, business funding and asset based lending.

If you would like to find out more about invoice discounting and how First4Commercial can help your business overcome cashflow problems by utilising the unpaid invoices of clients, give us a call today. Our expert financial advisors will be happy to discuss your specific situation and help you find the right solution for you.


Looking for Personal Loans as an Alternative to Credit Cards

For many people their future depends on their ability to build up a solid and respectable credit score. One that allows them to secure large personal and business loans, and one that will entitle them to feel optimistic as they apply for a mortgage to their first home, or a remortgage for their current property. Bridging loans, or smaller personal loans are looked upon as a greater way to do so, as an alternative to the use of credit cards.

Set Payments – Unlike credit cards, where payments can change month on month depending on how much you have on your card to pay off, a personal loan will have a fixed payment term. You’ll understand exactly how much to pay each month, and for how long. This is less risky than missing a payment or paying too little, as can be more likely with a credit card.

Great for A One-Off Payment – A personal loan can make the difference in not only building up your credit score in terms of paying it back, but also allows you to pay for that repair you desperately need, or for that once in a lifetime opportunity for a vacation. As long as you are aware of the payment terms and definitely need to take out the loan, a short-term loan can make the real difference in terms of your long-term credit score outlook.

If you’d like to find out more about how we can help you find the personal loan to suit your circumstances and finances, give First4Commercial a call today. We understand how to help you get to where you need to be, without putting yourself at risk of overstretching financially.


How Business Overdrafts Can Help You Grow

For many businesses, cashflow can be up and down, depending on the type of industry and how often invoices are sent and payments made. There might be occasions where you require a top up of cash to ensure you can pay your bills on time, know that payment is around the corner from the client. Business overdrafts give you a borrowing facility to dip in to when you need it most. What are the advantages of taking on a business overdraft.

Flexibility – You can take money out of your business overdraft at any point that you need to, even if it is only for a limited amount of time over a period of a few days.

Cashflow Control – The major benefit of a business overdraft is that you do have the control over your cashflow at times when without extra finance you might be out of pocket and unable to make your own payments on time. Gaps in cashflow can cause serious problems to new businesses especially, so take control with a business overdraft facility.

Keep Track of Your Finances – If you don’t have an overdraft, cheque payments may bounce due to you having insufficient funds, even though you know payments in will be coming through within the next few days. An overdraft facility allows you to keep track of a good payment history.

Interest – Compared to taking out a business loan, utilising a business overdraft facility will incur fewer interest costs to you. You’ll only be charged on the number of funds you have used.

At First4Commercial we have expert financial advisors who are here to help you. Give us a call today and we’ll be happy to talk through your specific financial situation and guide you on the right path, whether to take on a business overdraft or another service that will help.

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