Can a New Business Get Invoice Finance?

Yes. A new business can obtain invoice finance without several years of trading history. Go-Factor can assess suitable enquiries and approach appropriate invoice finance providers on the same day.

What Makes a New Business Fundable?

An invoice finance provider will consider the quality of the new business, its customers, contracts and invoices. Limited trading history does not automatically prevent funding.

A provider will normally assess:

• Whether the business sells to other businesses.
• The creditworthiness of its customers.
• Whether the goods or services have been delivered.
• Whether invoices are valid and undisputed.
• The directors’ experience and ability to deliver the work.
• The expected value and frequency of invoices.

Can Funding Start With the First Invoice?

Potentially. Once eligible work has been completed and the first invoice has been raised, a provider may release an agreed percentage before the customer pays.

The funding can support payroll, suppliers, fuel, stock and other costs while the business waits through the customer’s payment terms.

Understand how invoice finance works .

Can Funding Be Arranged Before the First Invoice?

Go-Factor can review the business, customer and contract before trading begins. Invoice finance is normally drawn after eligible work has been completed and an invoice has been raised.

If money is required earlier for stock, equipment or setup costs, another funding solution may be more appropriate.

How Quickly Can Go-Factor Help?

Go-Factor can assess a new business and approach suitable providers on the same day. Where the required information is available, an indicative funding decision may also be possible that day.

The release of funds remains subject to due diligence, documents, invoice verification and the selected provider’s approval.

What If the Director Has a CCJ or Previous Business Failure?

A CCJ, poor credit history or previous company closure does not automatically prevent invoice finance. The circumstances will be considered alongside the new business, its customers, contracts and funding requirement.

Why Compare Invoice Finance Providers?

Providers have different policies on new starts, minimum turnover, customer concentration, contracts and adverse credit.

A direct lender can explain its own facility. Go-Factor independently compares suitable providers and helps present the application around the strengths of the business, customer and contract.

Explore Go-Factor’s new-start funding guidance .

What Information Does Go-Factor Need?

• The business activity and expected start date.
• The customer’s name and payment terms.
• The contract, order or confirmation of work.
• The expected monthly invoice value.
• The amount and purpose of the funding required.