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Factoring
✅ Immediate cash from unpaid invoices
✅ Credit control handled for you
✅ Boosts cash flow without new debt
✅ Ideal for growing businesses
Invoice Discounting
✅ Confidential, customers aren’t aware
✅ Improves working capital
✅ Scales with your sales
✅ Quick access to funds while keeping control
Spot Factoring
✅ Fund single or selective invoices
✅ No long-term contracts
✅ Fast and flexible funding
✅ Perfect for occasional cash flow needs
Other Types of Invoice Finance
CHOCCS (Customer Handles Own Credit Control)
Best for: Companies that want funding like factoring, but prefer to keep control of customer relationships.
Key features:
- The factoring company still owns the debt and advances cash. However, you remain responsible for chasing payment from customers.
- It’s often used when the facility is legally a factoring arrangement but functions like discounting.
Confidential Factoring
Best for: Businesses wanting the funding and support of factoring while maintaining discretion.
Key features:
- Similar to invoice discounting in terms of discretion. However, the lender may still manage collections in the background or require specific operational structures.
Invoicing Finance - FAQ's
Recourse vs Non-Recourse - what's the difference?
Recourse Invoice Finance:
If the customer doesn’t pay the invoice, you (the business) are responsible for repaying the finance provider. Lower cost, but higher risk for your business.
Non-Recourse Invoice Finance:
If the customer doesn’t pay (due to insolvency), the finance provider absorbs the loss. Higher cost, but offers more protection and lower risk.
Recourse = your risk
Non-Recourse = lender’s risk
How could a lender charge me? - here's a rundown
Invoice finance charges are typically broken down into two main components, with some additional potential fees depending on the provider and facility type. Here's a clear breakdown:
Service Fee: Ongoing fee (0.5%–3%) for managing the facility; higher in factoring due to credit control.
Discount Fee: Interest on the funds advanced, charged daily/monthly (e.g., base rate + 2%–5%).
Some lenders may charge additional fees, such as:
Setup Fee: One-off cost to establish the facility.
Minimum Usage Fee: Charged if facility isn't used to agreed levels.
Audit/Review Fees: For monitoring your ledger.
Bank Charges: For transfers or disbursements.
Early Termination Fee: If you exit the agreement early.