Release funding from your unpaid invoices
- High Advance – Receive up to 90% of your invoice value upfront
- SME Invoice Factoring – We collect payments on your behalf
- Fast Funding – Get the money in your account sometimes same day
- Big or Small Invoices – We fund invoices up to £3m+
- Eliminate Risk – Customer bad debt protection available
- Free to Apply – Simple application – apply in minutes
What is invoice factoring?
Invoice Factoring, also known as ‘debt factoring’ is perhaps the most widely used form of invoice finance. It is a flexible funding solution that enables you to effectively sell a single invoice or your whole sales ledger to a lender at a discounted rate.
Unlike discounting, where you remain in control of chasing customer payments, the collections and credit control is passed on to the provider to manage in full.
This factoring solution allows you to release of up to 90% of your invoice value in just a few hours. This is ideal for a fast working capital boost to your business.
Why choose invoice factoring?
Funding up to 90% of invoice value
The funds can be with you on the same day, and up to 90% of the invoice amount will become available. Once the invoice is paid, you receive the final balance minus the factoring fee.
Focus on your business
By outsourcing your credit control, it allows you to free up your time to manage your business.
Improves cash flow
Cash is released as soon as your orders are invoiced and is made immediately available to you. This creates a smooth cash flow for your business.
Reduce the risk of late payments
Giving up credit control to the financier will reduce the risk of bad debt and late payments. A dedicated team of professionals will manage collections on your behalf.
No additional asset security required
A significant advantage over other financial loan products does not rely on you owning any assets to act as security, whereas a traditional bank loan would look for this.
Bolt on extras
There are other business additions available such as bad debt protection, payroll support, which helps to free up your time and protects your business from risk.
How does invoice factoring work?
Invoice Factoring is where financiers will purchase your invoice and collect the payments from your customers on your behalf. You will receive up to 90% of the invoice value upfront. Then, once they have received payment from your customer, they will send you the remaining balance minus their fees and charges.
1. Choose one or multiple invoices
Choose a customer invoice/invoices you would like to release cash against.
2. Receive advance up to 90%
Receive an invoice advance up to 90% of the value of your sales invoices in 24 hours. Get as much as you need!
3. Customer pays the invoice
The factoring company manages all credit control. When the customer pays, you will receive the remaining balance minus any costs.
Grow your business with an invoice factoring facility
With the financier taking control of your whole sales ledger, it saves you time and resource, enabling you to carry on with your business as usual. With Invoice Factoring, communications come directly from the lender, so your customer will understand that you have a relationship with a factoring company.
Invoice Factoring is the most common funding solution for SME businesses struggling with cash flow. Unlike many other forms of finance, invoice factoring is more secure because it is based on the company you have already invoiced out.
It means you get paid quicker and able to concentrate on running and growing your business.