What Are the Benefits Of Using FRENNS Platform?

By Per Frennbro in Financing

Are you facing cashflow problems in your small business? Do you want to have access to the cash that is trapped in unpaid invoices?

FRENNS is here to solve all your cash flow problems. This is a secure and efficient platform which is beneficial for both businesses and investors. On this platform, businesses upload their invoices for auction and the investors place their bids on them. FRENNS maintain complete transparency making it trustworthy and convenient for the users.

Benefits of Using FRENNS Platform

Extremely Fast Financing: With FRENNS, businesses can receive funds in their accounts just within an hour of closing of an auction(this is usually happening in real time, but we do not dare to promise that…yet).

Extremely FastSign up
: We have not even told you how fast you sign up to FRENNS. If you are fast and all documents are clear you can get your invoices financed within an hour. Scan your passport, your company bank statement and a utility bill and we do the rest.

Super simple sign up: With FRENNS you do not fill out any forms or deliver miles of paper printouts of invoices and your financial situation. You just hook up your accounting system to FRENNS system and FRENNS will do all the job for you. You will get a list of all invoices you can finance and you select the one you want to cash advance from.

Automated: The process of receiving funds is completely automated on FRENNS, allowing businesses to save costs. You as a business owner upload the invoice and can then lean back until it is financed. The platform automates the approval of the financing if it is lower or equal to the terms you can afford.

Small companies too: Yes, you heard right! FRENNS can finance invoices down to almost zero. There is no upper limit either. FRENNS can finance any company that has a minimum of 6 months trading history recorded in their accounting system and a minimum of 50.000 GBP or EUROs on their books.

You set the terms: If you can afford only 3% for the invoice financing then you set the terms to that. If the bidders agree they bid below your levels. No other platform gives you the right as a “borrower” to dictate the terms of the advanced amount.

Value: FRENNS allows businesses to get invoice financing for up to 99% of their invoice value

No collateral needed: On FRENNS platform, the money is secured against the buyers of the goods or services, responsible for the outstanding invoices

Insurance: Every invoice has an insurance in case the payer does not pay the invoice

Collection: Big buyer usually misuses their size and do not pay smaller companies. But by just using FRENNS in this matter means they have to pay. We collect the money through the insurance company and their collection service. The insurer is one of the largest in the world. So the buyer of the goods/service will need to pay for also very small invoices that no one else can get collected.

Transparency and employees: No need for any additional employees to handle the invoice financing due to paperwork or need managing the factoring company or any additional hidden fees. What you see on the screen is what it cost. And we are cheapest in the market! Ok, you need to pay 0.6 Euros for the transaction of the money to your account, but that is what the bank charges you. Not us.

Convinced? Use our FRENNS platform and take your business to the next level with proper cash flow and growth.

About the Author: Per Frennbro is the CEO of FRENNS, which offers high speed, low cost invoice financing for small businesses. As a serial entrepreneur, Per focuses on helping both small and medium sized businesses take control of their cash flow. Visit https://www.frenns.com and see how you can turn your invoices into working capital to help your business prosper.

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