Our Invoice Finance tool shows you a breakdown of the indicative costs involved within Invoice Finance.
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How much does invoice finance cost?
Invoice Finance is a product which allows the use of cash earned but not received. It does this by making use of your unpaid invoices. You generate an invoice for a customer (must be another business) and one of our invoice finance lenders will lend you up to 95% of the value of the invoice created for you to use right away.
As a cashflow solution which can be completed as quick as within 24 hours of generating the invoice, it makes it a high effective and fast method of securing cash you have not yet received from the customer.
The repayment works once your customer pays the invoice. This money reaches the lender and you are given the remaining balance of the invoice which was no initially advanced. So, if you were advanced one of the highest maximum advance rates of 95% of the value of the invoice, you will receive the remaining 5% minus fees for borrowing the cash advance from the lender.
Invoice Finance comes in a few highly flexible forms of finance to help tailor it to almost any business. Invoice Finance includes; factoring, invoice discounting and spot factoring.
What is Factoring?
- This may provide you with similar advances to what the invoice finance calculator has shown here with the added benefit of the lender collecting the debt from your customer for you. This is useful for businesses earning £50,000 or more a year.
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What is Invoice Discounting?
- This could provide a similar advance rate as to what was calculated by the Invoice Finance Tool but you are left in charge of collecting the debt, making it a confidential solution, ideal for those who already have a strong credit collection facility.
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What is Spot Factoring?
- The pay-as-you-go invoice finance alternative, for those of you that have only a few larger projects or clients throughout the year.
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