Invoice Finance
Invoice finance
If you sell to your business customers on credit terms and you are owed money for delivered goods or services, invoice finance can help you!
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Invoice finance enables businesses to access cash upfront for unpaid invoices.
Rather than waiting 30, 60 or 90 days to be paid by a customer, businesses can release up to 95 percent of the value of an invoice within 24 hours of its issue.
Specifics
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Factoring
You issue invoices to your customer with instructions to make payment direct to the factoring company.
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Invoice discounting
This is similar to factoring but you remain in control of your sales ledger and hide your involvement with a financing company from your customers.
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CHOCS
Disclosed factoring agreement where your business maintains full responsibility for credit control rather than passing it to us.
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Construction
It provides funding by advancing cash against the value of invoices raised on the completion, or part-completion for staged contracts, of work carried out.
Can I get it?
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The company has to be invoicing other businesses
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Business needs to have a minimum turnover of £50,000 per year
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Detailed and accurate financial statements and business accounts
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Must have a good track record with customers fulfilling their invoices
