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.
Recruitment Finance comes in multiple forms. The most common funding option for those operating within the recruitment sector is Factoring. This is a line of funding that keeps cash flow running through your business, removing the stress of a low in cashflow. Invoice Factoring partners can offer cash flow management solutions with all kinds of recruitment companies, irrelevant of the sector, whether they are temp staff, or permanent.
Factoring is a popular funding solution for those within the recruitment industry, as it has additional benefits. Aside from boosting cash flow, some funders will offer to assist you with your back office. In the case that you have to administrate tasks such as timesheets and payroll for your clients, the lender can take that weight off your shoulders. Your back office work can often be time-consuming and stressful, and removing that from your weekly to-do list can change the way you run your business. Invoice Finance can also be beneficial for those who work with temp (temporary) staff. Similarly to the payroll tasks, taking the admin of processing the timesheets of temp staff away from your business can free you up to work on other tasks to focus on growing your company. PAYE, timesheets and payroll are all typically available with Invoice Factoring partners within the recruitment sector.
Management of finances is vital if you plan to grow your business, and Invoice Finance may be the solution. Invoice Finance allows you to release up to 100% of your invoices due, meaning you never have to worry about lengthy payment terms again. This prepayment figure can vary, and depends on multiple factors, such as your turnover and the strength of your business profile.
There are other forms of Invoice Finance that also help to support your cash flow management, and aid you as you grow your company. 'Client Handles Own Credit Control Services' (CHOCCS) is a product that allows you to remain in full management of your credit collection processes. There are plenty of benefits to this, such as being able to continue consistent contact with your clients, keeping a close relationship whilst using a funding partner. To run a CHOCCS facility, you must be able to show the lender you have the capacity to run credit collection in-house. Due to this, only larger companies are eligible for CHOCCS facilities.
While you continue to grow as a firm, you can still access Factoring facilities, as well as Confidential Invoice Discounting (CID), and Spot Factoring facilties. The benefits of payroll being taken off your back can be extremely beneficial, and are available with all offerings under the Invoice Finance umbrella. All of which are tailored to supporting you as you grow, aiding your cash flow and working capital.
Business Loans are a common product for recruitment companies, working with our lenders to give you a boost in your cash flow and working capital. With up to £5 million, or even more in some cases, available as a Secured product, or £500,000 available as an Unsecured option, a loan can massively affect the way you work, and support you as you grow.
With almost 40,000 recruitment agencies in the UK, and new businesses beginning their journey continuously, an Invoice Finance facility could be vital to your success. For Recruitment based companies we can also offer our services and support on every other avenue of commercial funding within the market.
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 Limited Companies.
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 finance consultants to you, walking you through the entire process until the funds are in your hands.
“ Perry & JD Capital 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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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.
