It depends on the facility. We can set some up in just a couple of days, but most take one to two weeks.
No. Each facility is in place for 24 months, and you can settle at any time without penalty, as long as the facility has been in place for at least two months.
No – it works like a traditional overdraft. You draw money when you need it, and pay only for what you borrow.
It depends how much you have tied up in unpaid invoices. As a rule of thumb, it’s generally 80% to 85% of your ledger.
You still chase up your debts, and it’s up to you whether you tell your customers about the facility or keep it confidential.
Because you can borrow more than what’s tied up in unpaid invoices. You can add to your facility with funding secured on other business assets, such as commercial property. Simply put, we combine Invoice Finance with Business Finance to generate more cash for you.