Answering your questions
Invoice Discounting allows your business to release cash against your outstanding customer invoices before they’ve been paid. Invoice Discounting differs from Factoring because you collect the payments from your customers, whereas Factoring allows you to get a third party to do this for you.
Invoice Discounting is ideal for businesses that have strong credit control and management processes in place already but would benefit from receiving payments from customers earlier.
Invoice Discounting is ideal for businesses that have customers on long payment terms, or who often pay late, but want to retain control of managing customer payments. It can also help businesses who want to take on new projects without taking on extra debt.
Invoice Discounting gives you fast access to cash, helping you to improve your cashflow so you can run your business smoothly and efficiently. Unlike a traditional overdraft or loan, this type of funding grows in line with your turnover and works as a flexible solution to control your cashflow.
If you choose to manage your own credit control, we can provide a confidential service. This means your customers will never know you are using an invoice solution.
When bringing you on board we will work with you to make sure the funding you get is exactly what you need. This means that the length of time to have everything in place can vary depending on how complex your business situation is. We work flexibly, from the point of meeting you to understand your needs. Generally, we can set up a facility in a matter of days, however this depends on the speed in which we can access the information we need.
Unlike more traditional forms of financing, we can be incredibly flexible on set up, this can be in a matter of days, depending on how quickly you can complete and return the paperwork.
If your customer doesn’t pay within the agreed period, also known as the recourse period, usually 90 days, funding will be removed unless protected by Bad Debt Protection cover. You have the option to protect against customer insolvency with Bad Debt Protection.
The cost will depend on the services you wish to use as part of any agreement. If you would like to request a quote, simply fill in our short form and we’ll send you the information you need.
We have experience in helping businesses in a large range of sectors
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