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Yahoo
08-04-2025
- Business
- Yahoo
7 in 10 SMEs missing out on benefits of invoice finance: survey
New data from independent business finance provider Time Finance has revealed a lack of SME awareness and understanding of invoice finance, with over 70% of the SME business community either unaware of or opting out of the cashflow finance solution. The data forms part of Time Finance's Finance Apathy survey in partnership with Censuswide, which gathered insight from 500 SME owners and decision makers on their attitudes towards business finance. Delving into the awareness and use of Invoice Finance, the survey found that amongst SMEs, only 28% are aware of and use this finance solution, with 44% aware of invoice finance but choosing not to build it into their financial planning. Of those surveyed, 24% weren't aware of Invoice Finance, ranking the product amongst the lesser-known business finance solutions alongside Asset Based Lending (ABL), which fell short in awareness for 36% of respondents. This compares with the more familiar forms of business finance, such as commercial loans, which 94% of SME respondents were aware of. Loans also topped the table of most utilised form of finance, used by 40% of respondents. The new data has been commissioned by Time Finance to understand the awareness and perception of different business finance amongst SMEs, to challenge growing apathy and help bridge the gap to unlock business growth. Highlighting the lack of SME awareness of Invoice Finance, Time Finance's survey closely follows the launch of the Government's Fair Payment Code and its plans to crack down on invoice late payment, which is estimated to cost SMEs £22,000 a year*. Launched in September 2024, the new code will require all large businesses to include payment reporting in their annual reports, with consultation on further measures expected this year. Phil Chesham, Managing Director of Invoice Finance at Time Finance, commented: 'Despite years of pledges from the Government, the measures brought forward have failed to tackle the issue, and late payment continues to threaten businesses. At best, it can stifle growth, and at worst, it can threaten business survival. This is where the power of invoice finance comes in. 'Invoice Finance has been a relatively unknown and misunderstood finance solution amongst businesses for years, and the most common misconception is that it is only useful to those with cashflow challenges. "It's true that it can inject capital into a business to help with overheads, but it is also a powerful tool to unlock investment opportunities. If a business owner has aspirations to grow but lacks the money to do so, they need look no further than their unpaid invoices to access working capital." "7 in 10 SMEs missing out on benefits of invoice finance: survey" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
26-03-2025
- Business
- Yahoo
Asset Based Lending Caps Year of Incredible Growth and Company Firsts With a 60% Increase in Funded Units
JERSEY CITY, N.J., March 26, 2025 /PRNewswire/ -- Asset Based Lending (ABL), a New Jersey-based lender providing private capital to real estate investors, funded 1,866 loans in 2024 – a 60% increase over 2023 – and expanded its employee headcount by 15%, marking a year of rapid growth and innovation for the company. The lender credits strategic sales efforts, operational improvements, and a focus on enhanced customer experience for its success. "Building true partnerships with borrowers is fundamental to our work whether we are engaging with investors for the first time or on a repeat basis. That crucial dynamic is what propelled us to where we are today," said Joseph Viganola, Head of Sales at ABL. "In the year ahead, I look forward to creating an even more robust experience for borrowers, adopting new technologies, strategies, and processes purpose-built to meet their needs and investment goals." In 2024, ABL took major steps to expand its geographic footprint beyond the Northeast, launching operations first in Texas then in California, to continue supporting borrowers across high-potential markets. The year culminated in the opening of a second headquarters in Cherry Hill, New Jersey, increasing access to experienced talent and strengthening core operations. In November, the lender announced its second securitization in two years, closing ABL 2024-RTL1. The industry-leading ground-up construction package totaled $175 million, a feat made possible by ABL's long-term track record as an authority in the sector. In 2025, ABL plans to expand its sales team, providing loan officers with additional support and incorporating marketing automation into its tech stack to improve team productivity and enhance the borrower and partner experience To follow ABL's continued growth, visit About Asset Based Lending Asset Based Lending was established in 2010, providing fast bridge financing to real estate investors for the purchase, renovation, new construction, and long-term refinance of single-family, multi-family, and mixed-use properties. A trusted lender to thousands of investors, Asset Based Lending has closed over $2.6B loans since its founding. Learn more at View original content to download multimedia: SOURCE Asset Based Lending, LLC Sign in to access your portfolio
