A traditional Lending Facility with no rates starting as low as 1.3% APR.
Release funds tied up in your invoices within 24 hours.
Similar to its unsecured counterpart, but with security offered, typically a property or asset, with equity attached.
Gain funding, or refinance, assets within your company, such as equipment, plant or vehicles.
A CHOCC facility is a blend of invoice factoring and discounting.
The simple difference between a CHOCC facility and other invoice finance products is that you will be in charge of chasing the payments owed to you on the invoices you have financed. A confidential invoice discounting facility is a form of invoice finance where the customer is completely unaware a facility is in place. Invoice factoring works similarly, although it is fully disclosed that a lender will be involved in the process. The CHOCC facility is hybrid of the two meaning the customer is aware of the lenders presence in the process, although no contact is made between them.
A CHOCC facility is useful for those who cannot yet qualify for a full factoring facility due to being to early in your business. You will have to show the lender involved that you have the capability to contact your clients with the intention of chasing down your invoices on their behalf.
A CHOCC facility is also useful for those who raise multiple smaller invoices, as this way the lender won't have to chase a large number of clients for payment.
Factoring is a funding solution tailored to your business, aimed at those who rely on payments from customers.
Confidential Invoice Discounting is ideal for larger businesses, where the role of the lender is not disclosed to your clients.
A Client Handles Own Credit Control facility enables you to continue to collect payments directly from your client.
Spot Factoring allows you to pick and choose the invoices you require funding rather than a whole turnover arrangement.
Unless you are a new start-up company, the minimum turnover most lenders will deal with is £100,000.
Similarly to Turnover, start-up companies can get funding. Once you have filed accounts for the year, we can then apply you as a fully-fledged trading business.
Due to us dealing with UK Based Lenders, we can only find funding solutions for UK Registered Businesses.
There are two fees involved with an Invoice Finance facility. The service fee is calculated against the companies turnover, and covers the cost of the lenders service for the facility, including dealing with the collection of the funds, the administration, and the lender maintaining the company’s sales ledger. The other fee involved is the discount fee (interest) this is charged against the money the company borrows from the lender. This is charged daily, and applied monthly. The typical service fee is around 3% annually, and a standard discount fee is around 4.5% monthly.
Eligibility varies largely from lender to lender, with some much more flexible, some much less. The basic criteria for applying for an Invoice Finance facility is as follows:
£100k minimum turnover
UK Registered Business
If you don’t meet this criteria it isn’t the end of the road, other funding options are available, and this can be discussed with one of our consultants.
Invoice Finance facilities can be completed in as short as a few days, although the process can take longer. Our aim is always to make the process as quick, and simple as possible.
Invoice Finance facilities have varying amounts of accessible funds. Rather than a monetary maximum amount of monies available, Invoice Finance is calculated by what percentage of your invoice can be advanced. Most lenders can advance up to 90% of your invoice value. The percentage of your invoice being advanced also depends on which industry you operate in, with some being more/less preferable.
We are not your average broker. We strive to find you the perfect funding facility for your business, in the easiest way possible. We designate a member of our team of specialist finance consultants to you, walking you through the entire process until the funds are in your hands.
“Would thoroughly recommend using JD Capital, we had great service all the way through the process from Perry. We will definitely be back should we need any more finance for my business”
“Lorem ipsum dolor sit amet,consectetur adipiscing elit, sed doeiusmod tempor incididunt utlabore et dolore magna.”
Disclaimer: JD Capital Finance helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. JD Capital Finance can introduce applicants to a number of providers based on the applicants' circumstances and creditworthiness. JD Capital Finance may receive a commission or finder’s fee for effecting such introductions.
