Lloyds: Invoice finance is the future
Lloyds TSB Commercial Finance (LTCF) said the invoice financing market could double in the next 10 years and stressed the need for accountants to recommend it to clients.
Speaking at the UK200Group Conference in Newcastle about asset based finance today, Roger Brown, a regional director at LTCF, said that "factoring is the future and accountants need to be aware of this.
"Innovative accountants who have good relationships with their client base need to be aware that this market is growing hugely and could double in the next 10 years," he said.
Brown also announced a 1% discount on pricing for UK 200 Group members on their asset based finance product, offering two instead of three per cent over the base rate.
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