Venture Finance Announces New Approach To Factoring

    HAYWARDS HEATH, ENGLAND, July 19, 2009 /24-7PressRelease/ -- Premier Invoice and Asset Based Lender, Venture Finance, through its specialist division Venture Factors has launched a Fast Track Factoring process to further enhance access to funding for businesses. The streamlined Fast Track approach can deliver funding within a week to swiftly support cashflow when and where it is needed most.

The speedier process will see Venture make a single visit to prospective clients, to determine their requirements. Viable businesses will receive an Initial Offer on the day, with funding available to clients within a week. Clients will also benefit from updates at every key stage of the decision making process.

The service will make an instant and ongoing improvement to client's working capital by advancing an agreed percentage - up to 90 per cent - of the value of invoices as soon as they are raised. Client businesses will continue to benefit from Venture's award-winning service with a dedicated account manager who will take the time to truly understand the businesses individual needs.

This newly improved service retains the skills of a dedicated credit controller to handle the recovery of outstanding invoices, freeing up valuable resource and time for clients to focus on business growth. Bad Debt Protection can also be included to shield against unpaid invoices and customer insolvency.

The Fast Track Factoring process is available to businesses with a turnover of up to GBP2m.

Peter Ewen, Managing Director, Venture Finance, comments: "We are constantly listening to our clients with a view to improving our already strong service offering. Fast Track Factoring allows us to reduce the time needed to take-on a new Factoring client. This is a direct response to address the lack of finance currently available to UK businesses. Funding is not available fast enough from traditional sources for businesses to survive the recession and build a platform for future growth. Venture is committed to providing the UK's smaller businesses with fast access to funding, particularly during these challenging times.

"We have seen a 23% increase in Factoring clients compared to an overall decline across the industry. Our credit control processes are two weeks faster than the industry average*, and we have twice as many specialist staff to look after each client than the banks."

* Business Money Receivables Review - March 2009

Venture Finance provide a wide range financial services including factoring, invoice finance and invoice discounting, visit www.venture-finance.co.uk to find out more.

Note to Editors:
About Venture Finance - www.venture-finance.co.uk

Venture Finance is an award-winning premier independent Invoice and Asset Based Lender, established in 1989. Venture was the first independent invoice financier to offer Asset Based Lending (ABL) in the UK in 1990 and was the first authorised independent invoice financier to provide the Government's Small Firms Loan Guarantee Scheme, lending almost GBP20m to clients over its 10-year life. It is now active in the new and improved Enterprise Finance Guarantee scheme.

As part of the ABN AMRO group and ultimately owned by the Dutch Government, Venture Finance is a solid and dependable funding partner for business. The company's award-winning service has already helped thousands of businesses, from start-ups through to GBP150m organisations, providing reliable finance tailored to individual client needs. Venture Finance handles almost GBP4 billion in client invoices every year, through 250 staff in 11 regional offices.

Factoring and Invoice Discounting are core services for the business. They both release ongoing working capital back into client businesses, based on the value of outstanding invoices and other assets. Versatile funding services both are ideal for clients needing to manage cashflow, refinance or restructure, fund business opportunities, purchase new machinery, merge with or acquire a new business or expand operations. Both can be combined with Bad Debt Protection to shield against unpaid invoices.

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