Invoice Discounting
Invoice Discounting gives your business a commercial finance service that provides fast access to cash owed on invoices that have been raised by your company. While similar to a Factoring facility, Invoice Discounting differs as it allows a business more control over its debt collection and credit control functions.
How Invoice Discounting can benefit your business
- Invoice Discounting is competitively priced compared to overdrafts and business loans
- You can receive up to 90% of the invoice value, usually within 24 hours of raising it
- You have more working capital to put back into your business
- The facility grows with your business so there is no need to re-negotiate your overdraft or take on other types of debt
- You can react more quickly to market opportunities
Why get Invoice Discounting through Simply Business?
- We have access to the UK’s leading Invoice Finance providers
- Compare quotes online or speak directly to one of our consultants for free, impartial advice
- Our specialist consultants can match your business with the best facility for your industry, requirements and working style
- There is no charge for setting up your facility
Contact us now for a free consultation on 0800 072 6030
What are the main features of Invoice Discounting?
- Up to 90% of the value of your invoices can be advanced by the next working day
- Flexible finance that grows with your business
- Keep a tighter control on your debtors and credit control
- The facility is easy to set up through Simply Business
What does Invoice Discounting cost?
Fees for invoice discounting services are two-fold:
- Service fees – covers the day to day servicing of your purchase ledger. Normally between 0.5% and 3% of your turnover.
- Interest charge – charged against the amount of each invoice. Usually a fixed percent above the invoice finance company’s base rate.
