MarketInvoice has been helping UK companies with selective invoice finance since 2011, and feedback from our larger customers was that they needed a whole ledger solution to support more regular funding. This CID solution allows our clients to get an advance against the value of their outstanding invoices, in Euros, Sterling and US Dollars.
We are now also able to provide a credit control functionality, if required, through our partnership with Veritas.
Here is a video overview of how confidential invoice discounting works on our platform from applying right through to funding and ongoing management of payments.
- Limited or LLP company based in the UK or Ireland
- Minimum turnover of £500,000 p.a and two years+ trading history; minimum turnover of £250,000 p.a and 1 year of trading history with our credit control option
- Use one our our supported accountancy software packages
Unfortunately we can’t support companies that:
- Operate in construction with contractual debt
- Are phoenix companies
- Have any form of insolvency notice or proceedings against them or any group
- Outstanding CCJs larger than £2,000
- A principal owner/director that is disqualified, bankrupt or subject to other form of personal insolvency
- Are unable to manage their sales ledger effectively
How it works
- Apply through our online application and share your sales ledger through the accounting integration so we can assess your book.
- We’ll have a call to ask any questions we still have and will make you an official offer following this.
- Activate your account by informing your debtors of the new bank account to pay into and we’ll need your help to confirm outstanding balances for key debtors. This is done confidentially.
- Access your account and sync with your sales ledger regularly to make sure you can withdraw the right amount of funds. Withdraws before the 12pm session will mean you’ll receive funds the same day. Funds withdrawn in the 5pm session are advanced to you the next business day.
A 12 month contract, with a 3 month notice period.
There are two fees, charged per use:
- Subscription fee – on the pay-as-you go option, this is a percentage of the invoice face value
- Discount fee – a charge on the funds you use