Invoice financing with Proper Finance
Did you know that Proper Finance works with a number of high-profile, reputable invoice lenders across the UK?
We work with the award-winning Funding Invoice, a company specialising in invoice finance and factoring. This funding option can help to boost businesses’ cash flow, as the lenders effectively purchase an unpaid invoice from your firm and provide you with a percentage of this money upfront. The rest is then received once the invoice has been paid in full by your client, with the invoice finance lender retaining some of this invoice value in exchange for providing the money upfront.
Invoice financing options with Proper Finance
It is important to note that there are two main categories of invoice financing to choose from, and the one you choose will likely depend on the individual needs of your company. Proper Finance works with trusted invoice lenders who provide the following funding options:
- Invoice factoring: where the invoice finance lenders purchasing your outstanding invoices from you and then collects these invoices directly from your customers
- Invoice discounting: the lenders provide you with the money on the invoice, and this amount is then repaid once your invoice has been paid to you by the customer.
Why choose invoice finance with Proper Finance?
Invoice financing is a fantastic funding option for businesses for a number of reasons such as:
- Invoice financing usually provides far more flexibility in terms of repayment options for companies than you would typically get through other funding options like a business loan or overdraft
- In most cases, you can get a higher level of borrowing against the assets you have
- It can help mitigate the risks associated with companies through defaulted invoices and late payments
- Invoice finance funding typically grows in-line with the business’s turnover
- Invoice finance lenders usually make fast decisions about lending against invoices, providing you with peace of mind.
But you may be wondering why you should choose specifically Proper Finance to find an appropriate invoice finance lender. Here are some of the reasons why we think we stand out from the rest:
- Receive an instant decision: if you decide to apply for invoice financing with Proper Finance, we won’t keep you waiting about the results of your application: once you have completed an online form via our site, you will receive an instant decision regarding the outcome of your application and whether you can proceed to the next stage of the process. This means no time is wasted!
- Fast payment: the Proper Finance team appreciates that if you are applying for invoice financing, you are likely to want access to cash for your company pretty speedily. That’s why we have made sure we use a faster payment system that means we can send funding to our customers who have made a successful application in less than 24 hours. Sometimes, funding can be received a little under an hour after their application has been approved.
- Secure: Proper Finance is licensed and regulated with the Financial Conduct Authority, meaning you can have peace of mind about any application for invoice finance you make with us. We also take our customers’ security very seriously: all information provided on our website is encrypted and our website is hosted on a secure server.
- No middlemen: we will never share your personal details with any middlemen or third parties without obtaining your full consent first.
Invoice financing with bad credit through Proper Finance
If you are concerned that your company’s bad credit history (or if you are the business owner, your own bad credit history) will inhibit your ability to make an application for invoice finance with us, there is no need to worry. Proper Finance is happy to announce that we work with a number of leading invoice finance lenders who are happy to accept applicants who have bad credit. Nevertheless, one thing to keep in mind is that you may have to pay higher levels of interest for the funding you have received.
The criteria for invoice finance with Proper Finance
Before making an application for short-term finance with us, it is important that you make sure you have met the initial eligibility criteria for applying for an invoice finance lender through Proper Finance. Whilst additional criteria may need to be met by individual lenders, you will first need to make sure that you are:
- A UK based resident
- Are aged over 18
- Have a valid UK debit account
- No recent defaults on file
- You have the ability to meet monthly loan repayments
- UK mobile number
How to apply for invoice finance with Proper Finance?
Looking to make an application with the Proper Finance team today? We are delighted to hear it! To apply for invoice finance through one of our lenders, all you need to do is click apply now on our site and complete the online application form. This usually will take you no less than 10 minutes to complete. If your application is approved, your application will move forward to the next stage, and you may receive your funding in less than 24 hours!