BUSINESS FINANCE / INVOICE DISCOUNTING
Invoice Discounting with ScotPac
Flexible funding for your business.
What is Invoice Discounting?
As a type of Invoice Financing, Invoice Discounting allows businesses to secure a line of credit by using unpaid or outstanding invoices as collateral rather than property or other assets.
Instead of waiting for slow or late paying customers to settle outstanding invoices, you’ll receive a cash advancement to ensure no delays or disruptions to cash flow.
The key difference with this type of facility, compared to invoice factoring, is that collections are all handled by you and thus the funding arrangement with ScotPac as a third party remains 100% confidential.If you don’t want your customers to know you’re seeking financing on their unpaid invoices, invoice discounting is the way to go.
Who does Invoice Discounting suit?
Our business funding experts usually recommend invoice discounting to small-to-medium sized enterprises with an in-house accounts receivable team.
By having an internal accounts department able to perform the full spectrum of collections duties (such as calls, reminder letters and issuing monthly statements), you’ll be better qualified for an invoice discounting facility.
Invoice discounting is particularly suited to industries where businesses tend to offer extended credit terms to customers and face delays in receiving payment. Discounting allows them to fill in the gap in cash flow between invoicing and receipt of outstanding funds.
Some of the key industries we support and have worked with include:
- Recruitment & staffing
- Wholesale trade
- Transport & storage
HOW DOES IT WORK?
1. Direct Invoicing
2. Advanced Payment
3. Remaining Funds
Frequently Asked Questions
WILL MY CUSTOMERS BE NOTIFIED?
In most cases, no. Your customers will not be aware of your cash flow funding arrangements. Invoice discounting can be completely confidential for businesses able to manage accounts receivable and collections internally.
WHAT DO I NEED TO APPLY?
Our local and friendly Invoice Finance specialists are available to help you find the best cash flow solution for your business. We’ve made the application process as simple and easy as possible to ensure you can access capital as soon as possible.
WHEN WILL I RECEIVE MY FUNDS?
Unlike the traditional lenders and legacy banks, ScotPac has made the process of applying and accessing capital easier, less stressful and quicker.
With approval and access to working capital in as little as 24 hours, we’re here to help businesses in need of cash fast.
What are our customers saying about us?
I found my experience with Business Fuel was helpful, business like yet friendly and fast. I would be happy to use again and I’ll recommend Business Fuel to others.
We think of ScotPac more than just a Financial Services provider, they care enough to know our business and as such we are more like partners
It’s growth funding that gets us the best from our working capital, which covers materials, wages and other costs while we wait to be paid for our goods.