Get working capital with a loan at market leading rates.
Stop waiting to be paid - get the cash within 24 hours every time.
Raise funds you need and enjoy the benefits of a secured loan.
Buy the equipment your business needs today and spread the cost.
The Healthcare sector is a broad industry, everything from Pharmaceuticals to Care Homes falls under the Healthcare umbrella. Due to this, finance facilities must be dynamic, and tailored to suit your business.
Invoice Finance is a common facility put in place for all types of businesses within healthcare. Invoice Finance allows you to release funds from invoices within 24 hours, eliminating any cashflow issues, and allowing you to run your company smoothly.
Care agencies often use Invoice Finance facilities, as their business is predominantly invoice based. This means that once your invoice is processed, your funds will be released within 24 hours.
An Invoice Finance facility will increase your cashflow greatly, and reduce any financial stress you may have. All other avenues of Commercial Funding are available to those operating within the sector, such as Business Loans, Asset Finance and Trade Finance.
Unless you are a new start-up company, the minimum turnover most lenders will deal with is £250,000.
Similarly to Turnover, start-up companies can get funding, however a minimum of 6-12 months trading will give you access to a much more broad range of lenders on our panel.
Due to us dealing with UK Based Lenders, we can only find funding solutions for UK Registered Businesses.
The cost of the facility will depend on a few factors. These are essentially decided by what you want from the facility, and how large your business is. Different lenders have different costs & fees that go with the arranging and running of your facility, but the main charges that go with running an Invoice Finance facility are the service fee, which is a percentage of the invoice value, and the discount fee, which is calculated from the amount of money advanced to you.
Eligibility varies largely from lender to lender, with some being more flexible, some more rigid with their criteria. The basic criteria for applying for an Invoice Finance facility is as follows:
- £250k 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.
Business Loans can vary hugely in amount. With an Unsecured Business Loan, anything between £10,000 and £350,000 can be funded. With a Secured Business Loan, the range can be anything between £25,000 and £2,000,000.
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
“Spark Finance have been incredibly helpful from start to finish. They helped secure a CBILs package even when many lenders had stopped considering new applications. They've informed us of new developments every step of the way and have helped us through this uncertain time. Nice one, guys!”
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