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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.