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Article: Firms offered cut of pounds100m funding pot
- Article from:
- Hull Daily Mail (UK)
- Article date:
- July 2, 2009
CopyrightCopyright 2009 Hull Daily Mail (UK). Provided by ProQuest LLC. (Hide copyright information)
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Bank funding is slowly returning to East Yorkshire's commercial
market as firms are encouraged to claim their share of a new finance
pot.
Yorkshire Bank has released pounds100m to the small and medium
enterprise (SME) sector nationally, a chunk of which will be
distributed by its East Yorkshire And Lincolnshire Financial
Solutions Centre (FSC) in Priory Park, west Hull.
The money is available on a invoice finance basis and means
businesses can obtain up to 85 per cent of the value of issued
invoices immediately online, with the remainder payable when
payment is received.
Invoice finance reduces the burden of late payments by bolstering
a company's cash flow.
Graham Watson, managing ...