Invoice Finance
Access a proportion of the value of eligible unpaid business invoices before your customers pay.
Keep business moving while invoices are pending.
Invoice finance allows businesses to access funding against eligible unpaid invoices, helping bridge the gap between issuing an invoice and receiving payment.
A provider advances a proportion of the invoice value. The remaining balance is normally released after your customer pays, less fees and any other amounts due under the agreement.
Availability depends on your business, the invoices and the customers responsible for paying them.
Invoice Finance Products
Invoice Factoring
Access funding against eligible invoices, with the provider typically managing the sales ledger and collecting payments from your customers.
Invoice Discounting
Access funding against eligible invoices while your business generally retains responsibility for its sales ledger and customer collections. Confidential arrangements may be available, depending on the provider and facility.
Selective Invoice Finance
Finance selected eligible invoices rather than committing your entire sales ledger. Availability and minimum requirements vary between providers.
Use of funds
What are you using it for?
These are the reasons businesses give us when they enquire. Here is where invoice finance usually fits, and where something else usually does.
Commonly used for
Cash Flow Support
The gap between raising an invoice and being paid is the exact problem this product exists for.
Working Capital
Releases cash you have already earned. The facility tends to move with your sales rather than being a fixed amount you have to re-apply for.
Payroll / Wages
Wages fall due on a fixed date. Customer payments do not. This closes that gap without putting a term loan on the business.
Expansion / Growth
Where growth means taking on more orders, rather than funding a capital project.
Usually a different route
Equipment / Asset Purchase
Asset finance is tied to the thing you are buying, and the asset itself usually forms the security for its own finance.
Stock / Inventory Purchase
Possible once the invoices are raised, but if you need the stock before you can invoice, a business loan or a merchant cash advance fits the order of events better.
Debt Refinance
Invoice finance is tied to your sales ledger, not to replacing existing borrowing. Usually a business loan.
Tax / VAT Bill
A bill with a date on it is usually matched to a business loan. Invoice finance can free up the cash if the invoices are there, but it is not built for it.
Other / Not sure
Tell us the situation rather than the product. Working out which route fits is the part we do before anything goes to a lender.
The Approven approach
The right finance starts with understanding how your business gets paid.
We take the time to understand your invoicing cycle, customer payment terms and cash flow requirements.
We explore available arrangements with your funding needs, customer relationships and preferred level of collection support in mind.
Product information
Costs and terms
Advance amounts, fees, minimum charges and contract terms vary. Not every invoice or customer will qualify for funding.
Non-payment risk
Your business may have to repay an advance if a customer does not pay or disputes an invoice. Bad-debt protection is not automatically included; where available, it is subject to conditions and exclusions.
Guarantees
Security or a personal guarantee may be required. A guarantee can make you personally liable if the business does not meet its obligations.
Our role
Approven is a finance broker, not a lender. We arrange funding solely for business purposes, subject to eligibility, provider assessment and approval.
How we're paid
We do not charge customers a broker fee. We receive commission for successful funding introductions, and commission arrangements vary between providers and products. Where a lender’s commission forms part of the cost of the facility it offers, what we are paid can form part of what you pay overall. Where we introduce you to another broker, any referral arrangement and applicable customer fees will be explained before you proceed. The full position is under How we’re paid on our About page.
INVOICE FINANCE. THE APPROVEN WAY.
Waiting for customers to pay while business expenses continue? Explore whether invoice finance could support your working capital.
Get Funding
OTHER FINANCE SOLUTIONS
MORE WAYS TO ACCESS FINANCE
Every business has different funding requirements. Explore alternative finance solutions to support your cash flow, investment and growth.
MCA
Funding assessed against business turnover, including card sales, with payment terms agreed upfront.
Loans
Secured and unsecured business loans to support cash flow, investment and growth.
Bridging
Short-term finance secured against commercial property, for business purchases or refinancing.
Asset
Spread the cost of equipment, machinery and vehicles, or explore refinancing eligible existing assets.