THE SEVEN banks and non-bank lenders that provide 'invoice finance' in Ireland expect demand to grow as firms reopen after virus lockdowns - and face a long list of unpaid invoices in their sales ledgers. The Irish Asset and Invoice Finance Association (IAIFA) published its 2019 results today. These show that 1,600 small and medium-sized enterprises used €28.6bn in invoice and other asset-based financing last year. "SMEs are waiting longer to be paid by their clients and they've got to manage payments to their creditors. So this type of finance could be viewed as a critical tool for them to navigate their way through the crisis," he said.
Source: Irish Independent May 22, 2020 01:30 UTC