It happens that you have insufficient funds to cover your current liabilities? Long payment terms, untimely contractors – all this translates into financial problems of the company. The way to deal with financial problems is to finance invoices from ING.
Liquidity – when do you lose it?
Financial liquidity is the ability to settle current obligations: payment of invoices, repayment of loans, purchase of materials. It is essential for the proper functioning of the company. When problems with financial liquidity begin, the company stops developing, because the owner cannot afford to pay off and meet current obligations, not to mention financing new investments. Can such a company be saved? It may seem that the only solution is credit. However, it is associated with many formalities, and the cost of the loan includes not only a commission, but also one-off fees. A loan is a liability for a long time, and it does not guarantee that problems will not recur in the future. An alternative to a loan is invoice financing. If you are worried about late repayments and long payment terms – this is the perfect solution for you.
What is invoice financing?
Invoice financing provides quick and constant access to cash obtained from invoices with extended payment terms (up to 90 days). It consists in purchasing invoices by an external company. You receive money immediately, with which you can settle your own liabilities and you do not have to worry about the contractor’s timeliness. A factoring company will take care of her.
Financing invoices from ING
We are glad that we were able to establish cooperation with ING Commercial Finance S.A., which introduced the Invoice Financing service. You can use it if:
- Neither you nor your contractor are entered in the debtors database
- You have been in business continuously for 12 months
- The invoice amount exceeds PLN 250
- The due date on the invoice is up to 60 days
To use the service, all you need to do is register on the service’s website and attach the invoice that you want to cash. When your contractor confirms the transaction, we pay the money to your account. This way you can get paid the same day. ING Financing Invoices monitors payments itself and mobilizes contractors to pay invoices on time. You take care of the development of your company at this time.
What are the benefits?
Invoice Financing is a service that helps you maintain your financial liquidity. You receive cash even on the invoice issue date, without having to worry about timely repayment. What’s more:
- You will finance the first invoice for PLN 0
- You can calculate the fee for subsequent invoices using the calculator
- The rules are simple and clear
- You don’t have to be an ING client
- You can arrange everything via the Internet
By attaching and redeeming subsequent invoices, you can provide your company with a constant supply of cash, and thus – financial liquidity. This will allow you to offer deferred payment terms, which will increase customers’ interest in your services.