What Is Flexible Finance: Your Options Explained

a team work table with coffee cups computers documents phone pens. Convertibil Blog

Whether you’re looking into business finance to solve cash flow problems, fuel business growth, or to increase your working capital, there are plenty of finance options to consider. 

Gone are the days when bank business loans were the only support available for small and medium businesses. People are even starting to move away from banks in preference of more flexible finance solutions. 

But what is flexible finance exactly? Here’s everything you need to know. 

What Is Flexible Finance?

Flexible finance solutions differ from your standard bank loan. Flexible finance is provided by alternative finance providers who can tailor finance to your company’s needs. So rather than offering one-size-fits-all finance solutions with rigid terms, providers can offer business finance on  terms that suit your business. 

The finance, the rate and the repayment options can all be adapted to create your perfect finance solution. Finance providers can also offer finance for particular needs — for example, to provide a cash advance on unpaid invoices, or to fund a large order. 

And even once you’ve entered into a flexible finance contract, there’s still room for flexibility. You can request changes to your agreement, or even access further business finance. 

Benefits of Flexible Business Finance

Business Finance on Your Terms

Flexible finance gives you the chance to determine the finance that your business needs, what you want to use the funds for, and the terms of your loan. You’ll have more control with flexible finance than you will with traditional bank loans. You retain control of your business’s cash flow management, and you decide how to use funds for growth. 

Finance Your Business’ Needs

Popular flexible finance options include solutions like invoice or order finance. With these solutions, your business can access finance on the basis of order values and outstanding invoices.

This flexibility gives you the freedom to access business finance what you need when you need it. For example, if you’re using invoice finance for specific invoices, but you feel it would be beneficial to sell additional invoices to your finance provider, there aren’t any restrictions to prevent you from doing just that. 

Flexible finance providers understand that businesses are dynamic, so finance solutions should be too. With the option to access financed when you need to, you’ll can receive the financial support your business  needs to grow.

You Set the Loan Period

Often —especially with business finance from banks — you won’t have much say in the repayment process. You’ll be told how long you have to pay back the loan, and what the monthly instalments will be. 

But Convertibill®’s flexible finance products allow you to determine your finance schedule. Business finance is tailored to your business’ needs and potential.. 

No Restrictive Contracts

When you take out a traditional bank loan, banks will often have policies that prevent you from having multiple loans. But flexible finance contracts can often be used alongside other forms of finance. So if you’re hoping to take advantage of two types of business finance, a flexible contract won’t stand in your way. 

You Can Alter Your Finance Plan 

Flexible finance plans are designed to help you grow your business. And when your business grows, you may need a different type of finance or more funds to fulfil orders. For this reason, flexible finance contracts can be tailored. 

Where to Find Flexible Business Finance

If you’ve never used an alternative provider before, it’s important to find one you trust to offer you the right financial solution for your business. 

At Convertibill®, we find the right solution for your business by getting to know you and your company. We’ll discuss our business finance options  with you and find the best solution to give your finances a boost and help your business grow. 

Convertibill’s Flexible Finance Options

We know that no business is the same, so we offer a range of flexible finance products. We can also adjust finance solutions to suit your business or even combine multiple solutions to create the perfect “hybrid” financial package

Here are some of the flexible finance options we offer and how they can help your business boost profits. 

Supplier Finance

Convertibill®’s Supplier Finance solution gives you the funds needed to buy stock in bulk. Bulk orders result in trade discounts and fewer transport/delivery costs, so you’ll save money on your orders and boost your profitability. 

Order Finance

If you suddenly receive a large order from a customer but don’t have the funds to fulfil it, you’ll lose out on business. Our Order Finance solution is designed to help you complete more orders, no matter how large. Depending on the potential of your business, you can fund one or multiple orders — whatever you need. 

Customer Finance

Our Customer Finance gives you advances on unpaid invoices. This solution is a form of invoice finance, but it’s far more flexible than traditional invoice discounting. You’re in charge, so you decide which invoices you want to finance. 

Sales Finance

Sales Finance gives you the chance to offer your customers monthly payment plans. They won’t have to pay for products in full. Instead, they’ll be able to spread the cost of their purchase over several months. This will increase both conversions and average order value, and you’ll still receive the full purchase amount upfront from Convertibill. 

If you want to learn more about flexible business finance options, contact us today. Our team of specialists are happy to help you find the best finance solution to help your business reach its full potential.