Credit insurance specialist Coface UK has launched a new financing facility.

According to the company, the new service will give businesses access to an injection of working capital while meeting their credit insurance, collections and credit reporting needs.

The receivables finance service has been designed to meet the requirements of all businesses and particularly exporters, as these firms more often encounter slow payment from overseas customers and as a result may require specialist help.

The new product offers:

Immediate access to up to 90% of the value of invoices, domestic and export, with the remainder paid when the debt is settled;

Access to Coface's worldwide network of collection agencies in over 90 countries;

Built-in bad debt provision through Coface UK's credit insurance, to provide protection in the event of non payment; and

Off balance sheet financing.