Invoice finance
Invoice finance to unlock the funds tied up in unpaid invoices, and keep your cash flow moving.
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What is invoice finance?
Invoice finance is a type of short-term business lending that lets you borrow based on the value of unpaid invoices. It’s a way of improving cash flow – which can often be caught up in late payments or 90-day payment terms between businesses.
Types of invoice finance
There are two types of invoice finance – invoice discounting and invoice factoring.
With invoice factoring, your business will keep control of the invoice collection process and repay the lender once the customer has paid. With invoice factoring, the lender will collect payments from the customer directly, deduct the loan amount and any fees, then pay any remaining balance back to the business.
FAQs
The most frequently asked questions about business loans.
Our initial application process takes just two minutes, and we’ll provide you with a range of options from different lenders.
Responses from lenders will take slightly longer with invoice finance, depending on the product. Typically, we will review the application and pinpoint a short list of invoice finance providers that fit best. The length of time will depend on various factors, such as the type of facility that is picked for your specific situation.
The exact rate of interest will depend on the lender’s requirements, the length of the loan and the amount you borrow, and other business circumstances.
Invoice finance is closer to a facility, rather than a loan, so the rates will vary depending on your specific needs and circumstances. Our initial application process takes just two minutes, and we’ll provide you with a range of options from different lenders. Lenders can give us an answer within 24 hours and sometimes can come back to us in two.
Getting a quote from us won’t impact your credit score.
Most lenders we work with only do soft credit searches, and although a small number may apply hard credit searches, we will help you navigate through this.
You’ll only need a full credit report once you proceed with a lender’s full application. We’ll reduce the number of credit searches you need by carefully determining your eligibility for each loan option.