Aldermore has launched Receivables Finance, a new invoice finance product designed to support the growth ambitions of the UK’s small and medium-sized enterprises (SMEs).

Receivables Finance aims to offer fast access to working capital by advancing against contractually complete deferred payments, thereby improving the cashflow of businesses by releasing the outstanding amount.

Receivables Finance has been developed to help a wide range of businesses in many sectors, from entertainment and land sales to sales of licensed content. Aldermore says the product is ideal for businesses that typically sell goods or services to high quality debtors but where payment is deferred over a one-to-three-year period.

Andrew Dixon, commercial director for specialist finance at Aldermore, said: “At Aldermore we understand that many sectors face their own unique challenges and that cashflow issues can arise due to the protracted period for payments to be made. Receivables Finance provides business leaders looking to grow with a facility designed specifically for their sector which meets the needs of their business, all supported by a dedicated manager backed by an expert team.

“Aldermore has a long-established track record of funding contractual debt, and we look forward to helping more businesses achieve their growth ambitions through Receivables Finance.”