Stop chasing payments: the benefits of Invoice Financing
Managing cashflow is a problem that gives many business owners sleepless nights. Chasing money from outstanding debtors and juggling funds to pay staff and suppliers is stressful and time-consuming. Invoice Financing is an effective cashflow solution that is used by many businesses, and is a service offered by Benson Leasing. Invoice Financing (also called Factoring), is a system where a finance company agrees to quickly pay a percentage (usually 80%) of each sales invoice generated by a business. This means the business has access to payment for goods and services it has provided within a few days, rather than weeks. The invoice finance company takes ownership of the invoices it has partially funded, and chases the account payments if they exceed trading terms. Once the outstanding invoice is paid, the invoice financing company releases the remaining percentage of the funds to the business, minus their fee. This system is also often used by businesses that are experiencing rapid growth, and need working capital to take advantage of new business opportunities. Many businesses use Invoice Financing and their clients would not know. Call Benson Leasing on 1300 795 058 to discuss how Invoice Financing can free you from chasing debts, and allow you to focus on your...
read moreWhat’s new in finance
As a supplier, if you have a customer who is a Non-property owner and has only been in business for 2 years, “no problem” Benson Leasing can obtain for them up to $35,000 for any business equipment purchase they desire, when they meet our Credit Conditions which apply to all finance transactions. Just give Benson’s a call and find out how we can help you sell your equipment to customers who are new in business.
read more“I didn’t know I could finance that?”
Benson Leasing would like to remind our suppliers & customers that we can obtain finance for almost anything for your business and in a very tax effective way. Last week I was on the phone to one of my customers having a light hearted conversation about what he was doing in his business and he mentioned that he was upgrading his lighting the new LED technology at a cost of approximately $15,000. He also mentioned that although over time it would save him a lot of money, he didn’t really want to pull the money out of the business, because it caused havoc with his cash flow but he thought he had no choice. That’s when I realised that over all the many conversation we had, he had never really been listening to me. I then told him “We finance LED LIGHTING”. He was disappointed that he never asked the question about the LED Lighting and if he did he would have financed the LED Lighting. Lucky for him, he hadn’t paid the invoice and we ended up finance it with an easy Operating Lease for him anyway, thus freeing his cash flow. I know that many of our customers find themselves in the same situation, if they only had asked us the question. ”Can you finance…? More often than not the answer will be...
read moreLegal Changes for Small Business this Financial Year
A new Financial Year results in a number of legal changes for business owners to come to grips with. This helpful guide from SmartCompany provides an overview of recent and upcoming changes that affect small business. You can read it here. Benson Leasing & our partners are committed to taking the time to understand your business and its needs for the future, and will formulate the most appropriate solutions for your financing needs. We can provide real time solutions for real time situations for all your Equipment Financing upgrades. Call or e-mail us today to discuss how we can help you make the most of your business’s cashflow to fund your new equipment this Financial...
read moreGoal-setting for this Financial Year
Happy New Financial Year! What worked for your business last year? What didn’t? This is a time to reflect on your successes, as well as anything that may not be going so well. It’s an opportunity to set goals and gain some clarity on what your business needs to move forward. If you have expansion plans for this financial year, we can help! Call us for advice and assistance on how to purchase equipment or motor vehicles without compromising your cashflow.
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