This type of finance lets your business draw money against its sales invoices before the customer has actually paid. It enables our customers to improve their company's working capital and cash flow so they can achieve their business goals faster.
What does it offer you:
- Generates immediate cash flow for the business, allowing it to maintain and grow an efficient capital structure.
- Helps a business to maintain and grow an efficient capital structure.
- Provides cash to help in the continued running of the business.
- Up to 80% value of the invoice can be discounted.
- Domiciliation of proceeds with the bank.
- Rates are negotiable
- Only invoices from blue chip companies are acceptable.
What you need to apply:
- Formal application letter
- Board resolution (if a limited liability company)
- Duly accepted offer Letter
- Duly executed irrevocable domiciliation agreement for the full invoice value of the contract into a collections account
- Copy of the supply order/contract document
- Copy of confirmed invoice from supplier
- Copy of acknowledged delivery receipt & certificate of contract performance
- 12 months’ bank statements (for new to bank customer)
- Duly executed statement of personal guarantee of company owner(s).