Frequently Asked Questions:
How do I qualify?
If you raise invoices that allow credit terms of between 14-90 days then you could qualify. The most suitable industries include logistics, manufacturing, recruitment and wholesale.
How can I get started?
We evaluate potential by viewing your latest management accounts; a recent aged debtor report; typical contract terms and conditions. If you are a new business: your plan, budget and forecasts.
What assets can I borrow against?
You can borrow against outstanding invoices, plant & machinery, inventory and property.
Find out more about Asset Based Lending
What does Invoice Finance cost?
Cost is determined with a formula based upon turnover; volume and spread - up to 1% service fee and up to 3% discount fee above the Bank of England base rate. Additional services like credit protection should also be considered. Charges are calculated on a daily basis and applied monthly.
Try our Funding Calculator
Is there a required minimum or maximum Invoice Finance volume?
In order for us to be able to provide you with a cost effective facility we advise your turnover should be above £5m.
When and how often are advances paid?
If available, an advance can be sent daily (excluding bank holidays and weekends). Any balance available before 11.30am can be delivered by CHAPS into your account on the same day. BACS payments take 3 working days notice.
How can I keep track of invoices and payments?
We have an online facility accessible 24/7 that enable you to interact with our system. You are able to see all your batches, drawdown history and charges.
Will I continue to bill my customers as usual?
Once the agreement is signed your agreed advance will be sent within 24 hours of receipt of all outstanding invoices. You will continue to bill your customers as usual but with the instruction to pay us. We send monthly statements to the customer on your behalf.
What if I don’t want my customers to know that I'm using Invoice Finance?
We offer confidential invoice discounting. You must pass an audit upon your credit control capability and have a record of making healthy profits. You carry out the function of collection and we reconcile your monthly accounts.
Find out more about Invoice Discounting
Will I be required to sign a long term contract?
Our standard terms are 12 months with a month notice period