Invoice Finance in the Plant Hire Industry

Key Questions the finance provider will ask

Do you supply an operator with the vehicle?

When is the invoce raised?

Things the finance provider will look out for

Compliance 

CIS registration is required for any business whichis providing operators with the vehicle or plant. 

Debtor Quality

Is the customers base made up of lots of small builders small traders who may have poor credit ratings and be difficult to contact during working hours.

Terms of Hire

In order to be fundable invoices must be raised in arrears of the period to which they relate. There must also be a robust system backing up the off hire period so that any disputes over length of hire period are minimised. 

The above may result in offering lower prepayment levels. Improving the above areas will reduce costs and improve cash availablty. 

Call us on 0845 643 4722 if you are n this sector and looking to improve your cashflow.