According to recent figures, average payment arrears throughout Europe now stand at 53 days. When supplier terms are taken into account from low-cost areas such as the Far East and Asia, the funding gap for businesses can extend well beyond 120 days. This can cripple cash flow for European businesses which in turn can have a negative impact on profits, expansion and their overall existence.

Tracey Davenport, Relationship Director with a leading European commercial bank, encounters this on a daily basis. “You’re seeing shorter payment terms and longer terms for debts remaining unpaid throughout the UK and Europe. One of the biggest assets for most businesses is their debtors, but most High Street banks continue to offer little support for funding European debtors. With businesses expanding their markets every day, companies understand the advantage of having a cross border commercial finance partner to assist their business plans going forward.”