The cash an invoice finance facility releases and its total cost for a year, with the service fee on turnover included.
Cash released is what your customers owe you multiplied by the advance rate. The yearly cost is the discount rate on that cash plus the service fee on your whole turnover.
Every rate starts at 0% until you enter the ones a funder quoted.
Audit fees, charges on overdue invoices, minimum fees and the cost of leaving. Ask each funder for those in writing and add them.
Finance is subject to status and to the lender’s terms. A personal guarantee makes you liable for the company’s debt if it does not repay, and it can be enforced against your own assets, including your home. Nothing here is a personal recommendation.
Borrowing against unpaid invoices, through factoring, discounting or single invoices.
Read more →The funder advances cash against your invoices and runs your credit control.
Read more →Borrowing against your sales ledger while you keep your own credit control.
Read more →The monthly repayment on a business loan, the interest over the term and the total you repay with the arrangement fee.
Work it out →Two loan offers side by side: the monthly payment, the total repaid with fees, and the difference in pounds.
Work it out →Your profit against all your loan repayments, new and existing, as the cover ratio a lender works out.
Work it out →Funding searches run on Swoop’s platform. Swoop Finance Limited is a credit broker and not a lender, and is authorised and regulated by the Financial Conduct Authority (FRN 936513). Buzz Accounting Ltd introduces businesses to Swoop and may receive a fee from Swoop when funding is arranged. Business funding is separate from the financial advice Equity & General Financial Services Limited gives through this website. Finance is subject to status, and a lender may ask a director for a personal guarantee.
If a lender asks you to guarantee the company’s borrowing, our advisers can advise on life cover for that debt.