Invoice Finance
Invoice Finance is confidential – your customers don’t know you use it.
You have free 24/7 access to MIDAS – our secure, fast and easy to use online portal. You manage your business funding via your phone, tablet, laptop or PC. Request what you need, when you need it. Your money is credited to any of your selected bank accounts throughout the working day
If your business exports, talk to us about our flexible currency options.
Is your business suitable for Invoice Finance?
You sell goods or services on credit terms to other businesses. Your sales invoices are raised on completion of the delivery or service.
You are most likely in the manufacturing, wholesale or distribution sectors, but we fund businesses from many other sectors selling in the UK, Ireland and abroad.
You sell to a wide range of quality customers and you should have strong credit control to collect your debts.
You are most likely a profitable, established or growing business with sound financial controls.
You may be Sole Trader, Partnership or Limited Company based mainly in Northern Ireland.
You may find an overdraft insufficient for your day to day funding needs. Or you have bigger plans like acquisitions or management buyouts.
How does Invoice Finance work?
Step 1
You complete your sale and invoice your customer as normal
You
Your customer
Step 2
You upload the total value of your customer invoices to MIDAS
You
MIDAS
Step 3
Up to 85% of invoice value is available to you in cash immediately
Invoice value
You
The % we pay you is agreed in advance. We do not fund debts aged beyond a specified time limit, disputed debts, intercompany debts, cash sales or debts where you both sell to and purchase from the same business.
Step 4
The remainder of the financed invoice value (less pre-agreed charges) will be available to you when that invoice has been paid by your customer and that payment is received by us in a designated account.
Us
You
What does Invoice Finance cost?
Your facility is tailored to your individual needs and so your pricing is bespoke for your business.
You pay:
- Interest on the funds you borrow (called ‘Discount Charge’)
- A Service Charge for managing your facility. This is typically an annual fixed fee charged each month end
Other transfer fees may apply. All aspects of your Invoice Finance facility are detailed in your written Agreement with us.
