What is Ledgerlite?

For some businesses, a normal Invoice Finance facility might not be suitable. Instead, some businesses may prefer to gain access to a larger proportion of their sales ledger upfront. The LedgerLite facility by Skipton Business Finance allows you access of up to 50% of your monthly sales ledger without the complications of a traditional Invoice Finance product.

How does LedgerLite work?

A business using our LedgerLite solution will send us a copy of their sales ledger once each month and we then make available up to 50% 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.

What are the benefits of LedgerLite?

  • A LedgerLite facility can be agreed for 12 months and is a dynamic facility which is based on a company’s current 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

Unlike other financial providers, Skipton Business Finance has a ‘people-orientated’ approach embedded within our ethos. We are a subsidiary of Skipton Building Society, meaning our business model is unique in that we have no expensive shareholder dividends and can therefore focus on understanding our client’s businesses and developing approach-based partnerships. Many businesses stay with us for their financial needs year-on-year and we support them at every stage of their businesses journey, taking enormous pride in watching them grow.

If you are looking for a financial solution for your business but unsure which would be the most suitable, contact our team today on 0800 085 4150.