Allowing businesses to raise funds against outstanding invoices that are owed to you. This works by generating an invoice for a customer as usual and sending us a copy. We will then find a suitable lender who can typically fund up to 90% of the invoice value.
From there the lender will chase the invoice, allowing you to bridge the cash flow gap in the meantime. Your customer will pay the invoice in full to the lender and you will receive the remainder minus any predetermined fees.
Time is of the essence! A benefit of invoice finance is that funding is available swiftly. As soon as the loan is finalized, funding is available within 24 hours!
Invoice finance is relatively easy to qualify for and the amount you can borrow increases with your business requirements. If the value and amount on your invoices grows, so can your credit.
The risk for the lender is ultimately on the reliability of your client. If they are consistent with paying invoices on time, this increases the approval rate for your business’s future loans.
Rest assured that once the invoice is due, your lender will be the one to chase this! Giving you the opportunity to maintain and strengthen customer relations without spending resources on following up clients.