INVOICE FINANCING

Invoice Financing is the means of optimising cashflow. Rather than having money tied up in liquid assets such as invoices. Invoice Financing allows you to receive up to 90% of the value of your invoices within 24 hours of producing them. The remainder is then paid when the invoices are paid, less the service fee.

The advantages of invoice financing is that your business receives the majority of the value invoices within 24 hours, irrespective of whether your customers pay on time or late.

It is broken down into 2 products:

Factoring

Factoring is a full service solution which provides the customer with paying invoices up front, but also administration with managing the sales ledger. Non-Recourse factoring also provides you with a bad-debt solution where the financing company will assist you with the chasing of debts. Recourse factoring is the more popular solution, where the customer provides the funding should their customer fail to honour their side of the deal.

Invoice Discounting

Invoice Discounting is the solution where you retain more control of your sales ledger. A confidential arrangement is where the company retains total control of the sales ledger, with the facility being completely confidential and your customers are unaware that you use a financing company.
 

Skipton Business Finance can advance up to 90% of your invoices using either of the invoice financing solutions. We also provide the Skipton Link online facility that allows you to transfer funds direct into your bank account instantaneously. With any of our solutions, we can arrange for the facility to be set up within 5 working days with no need to change bank accounts.