• 15 Jul

    What Does An Invoice Finance Take On Involve?

    An invoice finance take on, also known as a switch on, normally involves a visit to your company premises by a surveyor from the invoice finance company. However, in some cases it can be conducted by the sales person, or it may be conducted over the phone/electronically. The purpose of the take on visit is to acquire the sales related records of your business in order to create a copy of your sales ledger, or summary figures, so that the invoice finance company can provide funding against them. Typically, the visit will involve a surveyor going through your sales ledger records in order to establish exactly which invoices are currently outstanding. The process could involve them checking for contra accounts against your creditors Ledger and there may be other conditions relating to the sanction of the facility that they also need to confirm. The other purpose of the switch on or take on visit can be to educate your staff about how to operate the invoice finance facility. The surveyor will go through all the procedures that are necessary. For example, how to send future invoices to the invoice finance company and how to draw down payments against your invoices.

    By Glenn Blackman

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Examples of funders we work with:

muse
skipton
nucleus
giant finance
apollo business finance
funding invoice