Grenke Invoice Finance

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How invoice financing works

1
The order
Create an invoice for your customer, showing how much is owed to your business and when payment is due.
2
Cash advance
Send a copy of the invoice to a lender to release up to 100% of its value as a cash sum.
3
Repayment
When it is due, the lender receives the payment from the customer. The lender then sends your business any remaining amount on the invoice that wasn't originally financed, after deducting the prearranged fees.

This comparison service is provided by Touch Financial. Touch Financial is a finance broker, not a lender. Not all products offered by Touch Financial are regulated by the Financial Conduct Authority. They compare invoice financing services from a range of different lenders, aiming to find the one that best suits the needs of their business customers. Touch Financial consultants look at the profile of each business, including cash flow, accountancy needs, and any other specific requirements, to match them with the most appropriate invoice finance provider and product. Touch Financial is authorised and regulated by the Financial Conduct Authority (FRN:727220).

Last updated on 12 May 2022.

Grenke Invoice Finance FAQs

Who is Grenke?

Grenke was originally founded in Germany in 1978 leasing office equipment to small businesses. Today, Grenke operates in 32 countries worldwide, with a UK arm that launched in 2002. Grenke provides a number of funding solutions various types of invoice finance that are available to small and medium-sized UK businesses.

What is invoice financing?

Grenke invoice financing facilities are just one form of invoice financing you might wish to seek, to take existing invoices and leverage them to generate sufficient levels of cash to borrow for your business’s spending purposes.

Why do businesses usually ask for invoice financing?

Perhaps you’re a business on the verge of a growth phase, but loans are hard to come by, and time is of the essence for you. Invoice financing with Grenke or another lender can help free up cash as a percentage of the value of your own invoices, for use in buying new equipment for your business or expanding operations.

Does invoice financing put me into debt?

Invoice financing facilities don’t actually involve you taking out new debt for borrowing. As your invoices are presented to either a lender or a factoring company, they offer you a percentage of the invoice sums as an up-front cash injection, without having to seek a line of credit or a loan.

Can I use invoice financing despite late payment?

You can use invoice financing precisely because of late payment – businesses with healthy turnover often suffer financially when clients fail to submit the invoices they owe in a timely way. Invoice financing can provide you cash flow ahead of receiving invoices, so you don’t suffer from tight cash flow.

What is invoice factoring?

One form of invoice financing is factoring, in which you sell your invoices to a factoring company via your lender. The factoring company chases up the invoices on your behalf, and you are sent an agreed percentage of that loan, minus any lending fees from your provider.

How does factoring differ from invoice discounting?

Invoice discounting is an alternative form of invoice financing, if you wish to leverage your sales ledger in a more discreet way. This is because discounting puts you in charge of chasing up on invoices, while still receiving cash injections, without your client having to know about the arrangement.

Can I be liable for failure to pay invoices?

Yes, but only if you had specifically signed a recourse agreement with your lender. This means you absorb the risk and must repay the value of an invoice, if your clients fail to pay.

Is there a way to avoid being liable for failed invoice payment?

Non-recourse agreements with your lender mean the risk is shifted onto the lender themselves. You can continue to borrow against the value of invoices, while the lender absorbs the costs of a failed invoice payment. However, greater risk for the lender means fees will be higher, to compensate.

Can I compare to find the best invoice financing for my business?

Our partner, Touch Financial is a suitable platform to help you compare Grenke invoice finance facilities with those of other lenders. Follow the instructions at the top of the page to get started. A specialist consultant will be able to guide you towards finding the lender best-suited to provide you with invoice financing in a way that’s affordable and prompt for you.

Are small businesses unable to get invoice financing?

Not necessarily, but small businesses might struggle to meet certain criteria set by Grenke invoice financing facilities. This is because your business might lack the sufficient turnover they require, or might be too inexperienced be considered risk-free enough to lend to.

Services offered by this provider may change over time. Always check Ts&Cs.

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