What can we offer you?
Invoice discounting allows you to raise cash quickly in a straightforward way. All you need to do is send a copy of an invoice you’ve just raised for a customer to your invoice discounting provider, and you’ll get 90% of its value within 24 hours. You’ll get the remaining 10% (minus a small fee) once the customer’s paid their invoice.
How invoice discounting works:
• You invoice a customer after your work for them is complete
• You send a copy of the invoice to your invoice finance provider
• 90% of the invoice amount clears to your bank account within 24 hours
• You receive the rest of the amount due as soon as the customer settles the invoice, less an agreed service fee
Bad debt protection can be added on top too, so 90% of each of your invoices will always be paid – you can choose to have all your invoices covered this way or choose selected ones from individual customers. This service carries an additional fee.
Good to know:
You won’t have to give up any control of your business or sell any shares to any third parties with invoice discounting. It’s simply a way of improving your cashflow without having to take out a business loan or overdraft. As far as your customers and suppliers are aware, you’ll be sending the invoice and being paid in the normal way.
What can the money be used for?
You can use the freed-up funds for whatever you like. You’ll stay in charge of the everyday running of your business, including what you do with any money that comes in.
Think invoice discounting might be right for you?
We have relationships with eight of the leading invoice discounting partner funders who can offer you a competitive deal if you decide it’s something you want to do.