Late payments are a problem for many businesses in the UK, and can result in cash flow problems. If your business is experiencing similar cash flow issues then finding the right invoice finance provider is the solution.

Below are a few tips to help you make your selection:

• The amount advanced on each invoice: An invoice finance provider will pay you a certain amount of the value of each of your invoices. This amount may differ amongst different invoice finance providers. Some providers will advance up to 90% of the value of the invoice, which will greatly help to generate cash flow.

• Charges for invoice finance: It is important to consider the charges that the invoice finance company require. There are two separate costs that invoice finance companies will charge for. One is the regular service fee to maintain your ledger- which will be maintained on a day to day basis. The second charge is known as the interest charge. This charge will be made against the amount advanced to you on your invoices. These charges will differ depending on the invoice finance provider that you choose.

In addition to these factors you must also take into consideration whether the invoice finance provider is suited to your type of business, as this is very important.