What are the benefits of LedgerLite?

Similar to an overdraft, this facility allows the business to dip into their funds throughout the month, with little involvement from us. It is a great option for businesses that are well-established or perhaps moving towards becoming self-funding.

  • A LedgerLite facility can be agreed for 12 months and is a dynamic facility which is based on a company’s sales ledger, rather than historical balance sheet information.
  • This facility is completely confidential, so customers do not need to know about our involvement.
  • The facility is easy to administer, with quick access to cash.
  • It generates cashflow to pay suppliers and can also be used to assist businesses in turnaround.
  • As with all our Invoice Finance products, each client will have a dedicated Relationship Manager who will deliver our excellent service.
  • LedgerLite does not require management to put up their family homes as security.

Why choose a LedgerLite facility with Skipton Business Finance?

  • Easy access to working capital
  • Award-winning service
  • Cost-effective funding
  • Reduced need for personal security
  • Reduced administrative burden

How does LedgerLite work?

  • A business using our LedgerLite solution will send us a copy of their sales ledger once each month
  • We then make available an agreed percentage of its value throughout that month

A great feature is that there is no requirement for cash allocation or reconciliation at month end. Instead, the business simply sends us a new, up to date sales ledger and the process is repeated. You can find out how LedgerLite worked for recruitment firm Pin Point via this article