Compared with other types of business finance, invoice finance is a cost effective solution, and when compared with bank funding, the cost of money advanced is competitive. Although in general terms, fees are tailored to the specific needs of businesses and therefore differ from firm to firm.
There are two types of fee:
- Service Fee
This covers the day-to-day running of the sales ledger (usually between 0.5 per cent and 3.0 per cent of the funds advanced).
This is charged on the monies advanced to you.
You could also benefit from:
- Savings on people costs
Invoice financiers can provide credit control functions on your behalf as part of their factoring service, so businesses can make savings on the cost of employing a credit controller, typically saving the business between £15 to £20K per annum.
- Significant savings
On costly overheads such as postage, stationery and telephone calls.
- A healthier bank balance
Invoices are paid on time and more quickly. With a regular flow of cash into your account, it means you could save on bank interest and charges.
For more information and to compare invoice finance quotes please call 0800 597 4757 or apply online.
- Invoice finance overview
- Advantages of invoice finance
- How invoice finance works in practice in the UK
- Who is suitable to use invoice finance?
- What does invoice finance cost?
- Step by step guide to signing up to an invoice finance facility
- Common questions asked about Invoice Finance funding
- The benefits of using an invoice finance broker?
- Who can use invoice finance?
- Invoice finance quotes
- Finding the best invoice finance deal
- Invoice finance or business overdraft – that is the question?