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Commercial Finance - Video transcripts

How Factoring works

Day 1

Supply of services or goods to your customer. You send invoice details to us. Invoice sent to customer, with payment terms and details clearly marked.

Day 2

We pay you up to 90% of the invoice value typically within 24 hours.

Day 2 - 30

You can use your funds to support your business ambitions.

Day 30+

Full payment received from customer. We forward on the balance of the invoice value to you, minus a small fee. If your customer has not paid on time, we can manage credit control professionally and sensitively, informing you of any payment delays.

How Invoice Discounting works

Day 1

Supply of services or goods to your customer. You send invoice details to us. Invoice sent to customer, with payment terms and details clearly marked.

Day 2

We pay you up to 90% of the invoice value typically within 24 hours.

Day 2 - 30

You can use your funds to support your business ambitions.

Day 30+

Full payment received from customer into a trust account, minus a small fee. If your customer has not paid on time, you maintain credit control functions until full payment has been received.

How Hire Purchase works

Step 1

1) Select the asset
2) Identify the supplier
3) Agree a price.

Step 2

Request finance from us.
Provide:
1) Asset details 
2) Proposed supplier.

Step 3

Credit decision made. Facility’s terms and conditions agreed.

Step 4

Deposit paid to supplier. The remaining balance is funded via Hire Purchase. We request invoice from the supplier.

Step 5

Supplier provides invoice to us. We pay the supplier. Asset released for delivery.

Step 6

First rental payment made, usually within 30 days. This begins the repayment of capital and interest due on the facility.

Step 7

Final rental payment made, usually 36 months after agreement started. Pay the option to purchase fee so ownership of the asset transfers to you.