What is Invoice Financing?
There are two main types of Invoice Finance solutions: factoring and invoice discounting. Usually you will be able to borrow 80 – 95% of the gross invoice amounts outstanding. This facility is kept entirely confidential from your customers, and can help you to meet the everyday financial commitments of your business, such as purchasing and wages.
With invoice factoring both funding and credit control is provided. With invoice discounting only the funding is provided.
Invoice Finance Benefits
- Speed – An Invoice Finance advance gives you access to the funds held in your invoices within 24 hours so you don’t have to wait to be paid.
- Cost-effective – We aim to give you the best value we can based on your specific requirements. We are an independent Invoice Finance broker.
- Choice – Outsource your credit control and sales ledger management to our expert teams or handle them yourself. We work with a range of Invoice Finance companies and providers such as RBS Invoice Financing and Lloyds Commercial Finance.
- Personal – Our country-wide presence and relationship managers ensure we can give a more personal service instead of bank Invoice Financing.
- Control – Check your funding at all times with our 24/7 online management system, to help you keep in control of your Invoice Finance loan.
- Confidentiality – Our confidential service means we won’t disclose you are using an Invoice Finance facility.
Step 1: Invoice
Simply send your invoice to your customers and a copy to us.
Step 2: Recieve Funding
We advance an agreed percentage of the invoice value to you within 24 hours, minus our fee.
Step 3: Customer payment
The remaining percentage is returned to you upon customer payment.
With factoring, the lender also takes on the role of a credit control department. They can chase your invoices in a timely and professional manner- freeing up your time to run your business.
You can also add credit protection to factoring to give you peace of mind over defaults or customer insolvency.
Invoice discounting immediately releases the cash tied up in outstanding business invoices. Usually you will be able to borrow 80- 95% of the gross invoice amounts outstanding.
This facility is kept entirely confidential from your customers, and can help you to meet the everyday financial commitments of your business, such as purchasing and wages.
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