.png){kind=small}
Get working capital with a loan at market leading rates.
Stop waiting to be paid - get the cash within 24 hours every time.
Raise funds you need and enjoy the benefits of a secured loan.
Buy the equipment your business needs today and spread the cost.
Invoice Discounting is a very common funding solution business owners use to rejuvenate cash flow.
Businesses who deal with invoices will often find lows in their cash flow occur, and a funding facility such as Invoice Discounting can be put in place to fix that.
An Invoice Finance facility will allow you to release funds tied up in your invoices within 24 hours of them being raised. This will effectively allow you to be paid immediately for the works completed.
Invoice Discounting is completely confidential, which means your customers are not disclosed to the fact that a lender is involved in the payment process. You also retain control of your sales ledger, and can send out reminders for payment yourself.
Factoring is a funding solution tailored to your business, aimed at those who rely on payments from customers.
Confidential Invoice Discounting is ideal for larger businesses, where the role of the lender is not disclosed to your clients.
A Client Handles Own Credit Control facility enables you to continue to collect payments directly from your client.
Spot Factoring allows you to pick and choose the invoices you require funding rather than a whole turnover arrangement.
Unless you are a new start-up company, the minimum turnover most lenders will deal with is £100,000.
Similarly to Turnover, start-up companies can get funding. Once you have filed accounts for the year, we can then apply you as a fully-fledged trading business.
Due to us dealing with UK Based Lenders, we can only find funding solutions for UK Registered Businesses.
There are two fees involved with an Invoice Finance facility. The service fee is calculated against the companies turnover, and covers the cost of the lenders service for the facility, including dealing with the collection of the funds, the administration, and the lender maintaining the company’s sales ledger. The other fee involved is the discount fee (interest) this is charged against the money the company borrows from the lender. This is charged daily, and applied monthly. The typical service fee is around 3% annually, and a standard discount fee is around 4.5% monthly.
Eligibility varies largely from lender to lender, with some much more flexible, some much less. The basic criteria for applying for an Invoice Finance facility is as follows:
- £100k minimum turnover
- UK Registered Business
If you don’t meet this criteria it isn’t the end of the road, other funding options are available, and this can be discussed with one of our consultants.
Invoice Finance facilities can be completed in as short as a few days, although the process can take longer. Our aim is always to make the process as quick, and simple as possible.
Invoice Finance facilities have varying amounts of accessible funds. Rather than a monetary maximum amount of monies available, Invoice Finance is calculated by what percentage of your invoice can be advanced. Most lenders can advance up to 90% of your invoice value. The percentage of your invoice being advanced also depends on which industry you operate in, with some being more/less preferable.
We are not your average broker. We strive to find you the perfect funding facility for your business, in the easiest way possible. We designate a member of our team of specialist finance consultants to you, walking you through the entire process until the funds are in your hands.
“Would thoroughly recommend using Spark Finance, we had great service all the way through the process from Perry. We will definitely be back should we need any more finance for my business”
“Lorem ipsum dolor sit amet,consectetur adipiscing elit, sed doeiusmod tempor incididunt utlabore et dolore magna.”
.png)
