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.

Important Legal Information

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

When using Asset Finance your agreement will be with a Lloyds Banking Group company whose terms and conditions will apply. The provision of credit or leasing services by us is subject to your meeting our Credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.
Factoring and Invoice Discounting facilities may be provided by one or more of Lloyds Bank Commercial Finance Limited, Lloyds Bank plc and Bank of Scotland plc.
Lloyds Bank Commercial Finance Limited, Registered in England & Wales no. 733011. Registered Office: No1 Brookhill Way, Banbury, Oxfordshire, OX16 3EL.