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Free Up Critical Cash Flow. Invoice Finance from $5k to $5 Million. No charge for a pre-approval. Apply online, high approval rates, funds within 24-hours
Invoice financing is a general term used for asset based lending products that allow companies to finance slow-paying accounts receivable. There are two ways to finance invoices. The first way is through a sale. Invoices can be sold to a factoring company in exchange for an immediate payment. The second way is using receivables to secure a revolving line of credit through an asset based loan.
Most invoice factoring transactions are structured so that your company sells its invoices in two installment payments. The first installment covers about 80% of the value of your invoices and is deposited to your account within one business day of requesting the funds. Your company gets the remaining 20%, less the finance fee, once the customer pays the invoice in full.
Invoices are usually verified before funding. Verification allows the factor to determine that the invoice is due and that there are no issues that could prevent its payment (e.g., disputes, chargebacks, etc.). Factoring lines are based on your sales. Therefore, lines can increase as your sales to creditworthy commercial clients grow.
Without the stress of ongoing repayments, you can focus your efforts elsewhere.
Forget the constant anxiety that comes with securing property and personal possessions.
Repayments are only reliant on the money you’re owed, which cancels the need for interest and fees.
Because you know when the money will be in your account you can make decisions on future outgoings with more confidence.
Unlike a long-term loan, you can decide exactly how long you require the services of an invoice financing provider.
Unlike a business loan, invoice funding doesn’t give you the same freedom to choose the exact amount you take on.
Invoice financing providers will cover the cost of missed payments by increasing advance fees, so you could see your credit score affected.
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