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What is invoice financing, discounting & factoring?
How does invoice finance work?
Invoice finance (and its cousin factoring) can be a good solution for businesses that offer credit to their customers, for example 30-day or 60-day payment terms.
Offering credit to customers can lock up cash in unpaid invoices, which can create pressure on a company’s cash flow, causing difficulties in covering operating costs, or limiting business growth.
Invoice finance allows businesses to unlock funds as soon as invoices are issued, increasing cash flow and allowing the business to continue to operate unrestricted.
The process is simple: you just send copies of your issued invoices to the lender, who will advance up to 95% of your total invoice value within 24 hours.
When your customer pays the invoice, the funds will go to the lender, who will return any balance due to you, less the agreed lender fees and interest.
Unlock up to 95% of your business invoice value
Get paid now, not in 30, 60 or 90 days
Receive funds within 24 hours of application
Funding is usually easy to obtain: eligibility is based on invoice creditworthiness, not your personal or business credit profile
The facility can be kept confidential, meaning your customers will be unaware of third party involvement
Credit control/collection services can be handled by the lender if preferred. This is a key feature of factoring, compared to invoice discounting
Featured case study: PPE manufacturer
A PPE manufacturer company urgently required funds after winning a contract to supply the NHS with PPE. The new contract meant the manufacturer had to triple the amount of PPE it was able to produce each day to be able to fulfil the orders. The funds were required for new machinery, materials, and staff.
We were able to get the client an offer in place and funded within 7 days of them reaching out to us. This quick turnaround enabled them to get everything they needed in place to take on the new contract. They now have a facility in place which makes winning new business easy as they have a funding line they can use as little or as much of at any time.