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3.5%(of the face value of the invoice)
Example:
0.0493% Per day (calculated daily)
And
$1,000.00
Less
$035.00 (3.5% of $1,000)
$965.00
then
PRICING EXAMPLE
So what does it cost?
To make things easy we have used the example of selling or assigning a
$1,000 invoice to us.
We have two different fees:
A "Discount Fee"
A "Management Fee"
We buy the invoice and deduct our “Discount Fee” of 3.5%
(once, for each invoice) =
Then we pay you 80% now and the remaining 20% once the invoice is paid by your customer (less our Management fee).
80% Of $965 = $772 (upfront)
20%
Of $965 = $193 (less Management fee for days taken for the invoice to be paid)
Any other fees?
Yes. If the invoice is not paid within 90 days we will ask you to buy it back from us, otherwise an initial 5% penalty will apply after 90 days. Let’s face it, after 90 days it doesn't look like your customer is going to pay.
The “Discount” fees and the “Management” fees shown above are our standard interest rates. Rates once offered to you in writing are set. Interest rates at the time of our offer may be lower than those used in the example based on the merits of the application.
Are there “Establishment fees”?
NO
Are there ongoing monthly, quarterly or annual fees?
NO, only the Discount & Management fees.
Are there exit fees?
NO
Are there fees for documentation?
YES, we have our solicitors create loan documents and Security documentation and like most lenders we charge you for the cost of the documentation and deduct these costs once, at the settlement of your facility with us.
Do I get a letter of offer from you?
YES, once an application has been approved we provide you with a “Letter of Offer” detailing the cost and other pertinent details of the facility.
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