The Irish Asset and Invoice Finance Association (IAIFA) published its 2019 results. These show that 1,600 small and medium-sized enterprises (SMEs) used EUR 28.6 billion in invoice and other asset-based financing in 2019. These SMEs have nearly EUR 1.5 billion drawn down from their invoice-secured credit lines, with the potential for up to EUR 2.7 billion in such borrowing approved. Invoice-based finance amounts to a revolving credit facility in which the lender advances funds to the company based on the size of their debtor books and collects that income, plus interest, as invoices are paid into a lender-controlled account.
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