If your business needs some help with recovery, or if you need advice on how to finance a liquidation, look no further than McAlister & Co.
As business insolvency experts we have a range of options available, whether you want to raise money from your debtor ledger, arrange a pre-pack liquidation or if you are simply looking for business liquidation advice. Whatever you need, let McAlister & Co help you to get your business back on track.
The business liquidation advice and services we offer include:
Invoice discounting is a system whereby you borrow money based on any invoices you have issued which have not yet been settled, helping to improve cash flow by removing the time spent waiting for customers to pay.
With invoice discounting, a third party is temporarily paying you what your debtors owe you. When you bill your customers, you forward a copy of the invoice to your invoice lender who will then pay you a percentage of the money owed.
Your customer then pays their invoice as usual, however, the money is paid into a trustee bank account which is set up by the invoice discounter. The remaining money is then forwarded to you, minus any interest and fees for the service.
If you want to find out more about invoice discounting, don’t miss this blog.
Just as with invoice discounting, invoice factoring allows you to borrow cash against the value of your debtor ledger – however factoring offers an additional service in that the factoring company will also take responsibility for billing your customers and collecting payments.
As with invoice discounting, using a factoring service will improve your company’s cash flow, but in addition, it will also free up time spent on invoicing and unpaid invoices and provide more of a definite budget to work to.
Discover more about invoice factoring and whether or not it could work for you in this helpful blog.
Asset financing allows you to borrow money against your assets in order to fund the purchase of equipment for your business and usually takes the form of leasing or hire purchase.
In a leasing arrangement, the lending company purchases the assets on behalf of the lender and charges them a regular ‘rental’, including interest over a fixed period. At the end of the fixed period, ownership of the asset is then transferred to the borrower.
Hire purchasing allows borrowers to spread the cost of large purchases in a similar way: after an initial deposit, regular amounts are paid to the lender for a fixed period. At the end of the agreed period, the borrower can usually pay a final sum to purchase full ownership of the asset, extend the lease, or return the asset.
Find out more about selling business assets here.
How McAlister & Co can help
With over 20 years of experience, McAlister & Co are one of the most in-demand licensed insolvency practitioners in the country. We are experts in business liquidation advice, so if you are unsure about what is the best option for you, don’t hesitate to get in touch with McAlister & Co today.
Times of financial uncertainty can be incredibly stressful, but you don’t have to face financial difficulty alone. Call us now on 03300 563 600 or contact us here for free initial business liquidation advice. We don’t need personal or company details to answer initial questions, and all our advice is completely confidential.