We charge you one fee; it’s the same fee however big or small your invoice is. This enables you to know all you cost upfront. We calculate the fee on your average turnover; average length of time you customers takes to pay. But typically, we fund up to 97% of the invoice value upfront. In some instances, we may hold a ‘retention’ this is a percentage of your invoice (typically 10%) which will be released to you when the invoice is paid. Our clints find this useful when budgeting for staff wages and tax bills.
No, we accept Sole Traders, Partnerships and Limited Companies.
No, you can still sell us your invoices even if you are not registered for VAT.
If you offer your customer credit and they are a UK based company, then we can accept your invoices. For Bodyshops there a small handful of companies that you can not assign, this is usually because you will be paid by a factoring company of their choice.
We can have your account up and running within 24 hours of you contacting us. Yu will need some simple forms of ID and time to read the agreement. Once we receive all the documentation, you will be ready to start sending us invoices.
No, we charge a small fee for same day clearance of your funds. We also charge a recourse fee if your invoice exceeds the contracted 90-day period (this applies to around 1% of all invoices we purchase).
No, we will only chase payment when your customer exceeds your agreed payment terms. We send monthly statements vis email. We will always ask your customer if they are happy to receive invoices form us and their company procedures. But we find most companies are now happy to accept invoices from Invoice Discounting / factoring companies.
If we receive your invoice before 3pm we can pay you the same day.
No, you do not have to give us all your invoices. We ask that you are consistent with each customer. There are no minimum or maximum ledger thresholds in our agreement.