Additional Services
Positive Invoice Finance can also help provide the following services that are available in conjunction with a factoring or invoice discounting facility:
Payroll and back office services:
Facilities can be put in place whereby the payroll for your employees (and your clients if you are a recruitment business) can be done by your service provider, so all your back office services are done together at a small extra cost.
Factoring and Invoice Discounting Providers understand running a payroll can create time and resource pressures on any business.
How does it work?
The Factoring and Invoice Discounting Provider offer a full range of payroll solutions from simple payroll calculations to the role of a fully outsourced Human Resources department,
The Factoring and Invoice Discounting Provider will put together a competitive funding and payroll package to suit your business needs. By taking advantage of our combined industry experience and qualified staff, you can concentrate on running your core business.
Payroll services
The Factoring and Invoice Discounting Provider has a payroll solution for your company no matter how large or small the workforce is, or how simple or complex the payroll rules are.
The Factoring and Invoice Discounting provider has a web-based payroll solution designed especially for small payroll users. It provides businesses with the convenience of being able to securely process payroll online.
Managed Payroll Service is a totally outsourced payroll function suitable for organisations that do not have, or do not want, expensive, labour intensive and highly specialised payroll facilities of their own.
The Factoring and Invoice Discounting provider can also provide:
• All statutory and legislative implications managed
• Bespoke management reports
• End of year reports prepared and submitted
• Experienced payroll team always on hand
• Payments to staff and third parties on time every time
Bridging Finance (secured against commercial or residential property):
A bridging loan can be provided secured against property to further enhance your facility and give you the extra cash when needed.
This is a short term solution for when more funding is required
What is Bridging Finance?
A bridging finance facility from the invoice discounting and factoring provider is the perfect short-term funding solution to help you grow your business. Available to new or existing clients with an invoice finance facility, bridging finance can be used to help resolve a temporary cash flow problem or meet tight deadlines. It’s ideal for clients looking to purchase new premises, release equity or even raise funds to inject into their business.
How does it work?
Bridging finance gives businesses access to funds of £75,000 or more and is secured against commercial or residential property. By advancing up to 80% of the property value, funds can be secured against property of most types and facilities are available for up to 12 months.
We aim to provide you with an ‘in principle’ decision inside 24 hours and with a number of payment options available it provides you with the flexibility to plan your business’ future.
Lending criteria:
• Offered in conjunction with invoice finance funding
• Property must be based in the UK
• First, second and third legal charge security
• Most types of property can be used as security
• Loan term of up to 12 months
Mezzanine finance:
Mezzanine Finance is also available from funders that Positive Commercial Finance can introduce you to. They can also provide Cash Flow Loans and Equity Participation.
Credit Insurance:
Both Factoring and Invoice Discounting facilities can have the added benefit of Credit Insurance - this can be of particular interest for exporters of goods. A Bad Debt Protection service, working in conjunction with the funders factoring and invoice discounting services, can cover up to 100% of bad debts, ensuring you can grow your business with complete confidence.
How does Bad Debt Protection work?
The Funder will credit-check existing and prospective customers for you and offer cover on each invoice at a level they feel is appropriate, up to 100% of the invoice value.
Sometimes called ‘Non Recourse Factoring’, Bad Debt Protection is a cost-effective solution, ideal for Factoring or Invoice Discounting clients who want increased peace of mind. ‘Non Recourse Factoring’ is a type of Bad Debt Insurance, which means that we recover any approved debts from your customers and have no recourse to you if they fail to pay. Non Recourse Factoring is not the sort of complicated language we choose to use, and you’ll be pleased to hear that our Bad Debt Protection service is not complicated to set-up, run or claim against.
The obvious benefit of Bad Debt Protection is that you can get on with your business, safe in the knowledge that your customers are being professionally credit checked and that you are fully protected, should they fail to pay. No more worrying about the viability of your customers; no need to holdback your business development with concerns over new customers.
With Bad Debt Protection, you enjoy:
• Up to 100% protection – that’s sometimes 20% more than others will offer
• Award-winning personal credit advice, helping you to build a stable business
• One of the most experienced teams in the industry, with an average of 20 years experience per team member
• Free credit checking on new customers
• Typically higher credit limits on your customers
• Fast claim payments, with minimal paperwork
• Competitively priced service, also available on export activities
• Automatic pay-out on approved invoices post 120 days for factoring clients
Enterprise Finance Guarantee
The Enterprise Finance Guarantee (EFG) replaces and improves upon the successful Small Firms Loan Guarantee scheme. This Government-backed business loan is designed to help established viable companies looking for additional funding or working capital and through funders introduced by Positive Invoice Finance, businesses can raise anything from £25,000 to £1 million.
How does the EFG work?
The Government through the BERR (formerly the DTI) guarantees up to 75% of the business loan and the factoring or invoice discounting provider provides the finance Designed for small and medium enterprises, it’s an excellent scheme that can be used for a wide range of business purposes.
If your business has an annual turnover from £500,000 to £25million, you could be eligible.
The Enterprise Finance Guarantee (EFG) is designed to help businesses without security to raise finance by guaranteeing 75% of the loan. It’s a great way to inject working capital into an existing enterprise, quickly and competitively. By raising the finance against your invoices through Factoring or Invoice Discounting, the factoring and invoice discounting company can improve your cashflow at the same time.
the benefits include of the Enterprise Finance Guarantee include:
• Borrow from £25,000 to £1 million
• 75% of the EFG loan is guaranteed
• your cashflow at the same time
• Few restrictions on loan use
• Minimal paperwork - Funder handles all the details of the scheme to simplify the process for you
• Repayment terms range from 3 months to 5 years
• Fast access to finance - we can provide funds in days rather than weeks
• Retain control - Ulitise your assets to maximise finance as an alternative to equity finance.
Export Finance
Positive Invoice Finance can help provide an Export Finance service which is all about helping you to improve the efficiency of your export business, while reducing the risks. We can lower the cashflow pressure almost from day one, help you to cut-out complicated administration and improve credit checking and credit controls.
Through the international Factoring service Positive Invoice Finance can hel you obtain you can get up to 90% of your invoice value paid as soon as you raise it, easing cashflow worries. The balance (less our fee) is paid on settlement of your customer. With Bad Debt Protection you can get the reassurance you need to confidently grow your exporting business, and we can help you to safely move away from Letters of Credit to standard account terms, simplifying exporting for you and your customers.
Export Finance – how does it work?
You raise an invoice to an overseas customer in the normal way. The Factoring or Invoice Discounting providers Export Finance service then pays you up to 90% of the invoice value. If you choose our international Factoring service, they take responsibility for collecting the money you’re owed – and then they pay you the balance less an agreed fee, once the money is in. If you prefer to use their international Invoice Discounting service, you collect the money and we then pay you the balance once funds are cleared.
As the trend away from Letters of Credit towards standard accounts continues, The factoring and invoice discounting providers Export Finance service can play a vital role in easing pressure on cashflow, whilst helping to minimise the risks associated with late payments and bad debts from foreign customers. Recovering money and chasing potential bad debts can be much tougher in a foreign language, in a country with different ways of doing business and a whole raft of different techniques for stalling payments. Export Factoring can provide the solution.
The benefits include:
• Unlocking the cash tied up in your invoices, giving you the flexibility to grow your export business
• Enjoying up to 90% of your invoice value upfront, with the balance paid on collection, less our agreed fees
• The choice of Factoring or Invoice Discounting to suit your own set-up
International Factoring includes local collection in your customer’s country, removing language and cultural barriers
• The option to include Bad Debt Protection and enjoy expert credit checking, while enjoying 100% cover on Factoring and 95% cover on Invoice Discounting.
• Less cost and less time consuming to set up than Letters of Credit
• More cost-effective and straightforward for your customers, reducing barriers to new business
• All the benefits of Venture’s award-winning service including a personal Relationship Manager and 24/7 online access to your account
• Potential to negotiate better terms with suppliers
• The ability to expand your exporting business with less financial risk
• A professionally run export credit service, without employing specialist staff
• Having a flexible finance facility that grows with your business
Positive Invoice Finance - The Factoring and Invoice Discounting Broker
