Apply for Invoice Discounting

Simply complete this form to apply for Invoice Discounting, we will get back to you right away.

No Credit Score Needed!

It takes less than a minute to apply.

Apply for Invoice Discounting

Invoice Discounting - Apply for Invoice Discounting - Invoice Discounting Deals

Invoice Discounting Calulator

*** This calculator and the values it displays are only to be used as guidelines. The figures that invoice lenders use to calculate finance change on a daily basis and the invoice discounting lenders fees vary from lender to lender. ***

To get the best invoice discounting deals and the most accurate quotes, fill in your details on the form above and our team will get back to you with the best invoice discounting quotes tailored to your requirements.

The Basics of Invoice Discounting

Exchange unpaid invoices for Cash.

Must be a UK based company.

Get paid within 24 hours.

Must invoice business clients.

No credit score needed.

Turnover of at least £50k pa.

Fully confidential service.

Must have valid unpaid invoices.

How does Invoice Discounting work?

Invoice Discounting is a form of business finance that pays an agreed percentage of a companies outbound invoices in advance.

This is really helpful to improve cash flow and increase working capital in a business This is especially good if you have clients that have long payment terms of between 30 and even 120 days before they pay your invoice.

Invoice Discounting is very similar to Invoice Factoring, but there is one small (or large!) difference. With Invoice Discounting, the service is fully confidential. You must collect payment from your clients and then pay the invoice discounting company back on an agreed date – whereas with Invoice Factoring, the factoring company manages the debt and collects payment on your behalf.

How Invoice Discounting works can be broken down into 3 easy steps…

Step 1

You raise an invoice for goods or services that you have provided to a company. The invoice must include the amount to pay and the amount of time it must be paid by.

Step 2

Send a copy of the invoice to your Invoice Discounting provider who will pay you an agreed percentage of the invoice, straight into your bank within 24 hours.

Step 3

You will manage the debt and collect payment of the invoices yourself – essentially meaning that the discounting company is confidential. You will then pay the discounting company back an agreed amount at an agreed time.

Invoice Discounting Requirements

Turnover over £50,000

One of the main requirements needed for invoice discounting is to have a turnover of at least £50,000. Preferably your turnover will be over £100,000 per annum but if it’s less we may still be able to help.

Invoice Business or Government Clients

To be eligible for invoice discounting, you must actively send invoices to business or Government clients for goods or services that you have provided. If your main income is to consumers rather than businesses then invoice discounting is not for you.

Based in the UK

Your business must be based in the UK to be eligible for invoice discounting. This includes England, Scotland, Northern Ireland and Wales.

Credit Score

Actually, your personal or business credit score are NOT taken into account with invoice discounting! Invoice Discounting is one of the only business finance options that does not take a credit score into account. Instead, the lenders use your unpaid invoices and the above requirements to determine whether they can offer you an invoice discounting deal.

Why use Quotesy for Invoice Discounting?

It is important to say from the start that we are not an invoice discounting lender, nor are we an invoice discounting broker.

What we do at Quotesy is take just a few details from yourself about your invoice discounting requirements – and find you the best invoice discounting deals on your behalf.

We work closely with the top 10 invoice discounting lenders and brokers in the UK which means we can get you better deals and save you valuable time in the process. We take your details, call around our invoice discounting partners and connect you with the best invoice discounting deals tailored to your requirements. You will receive a call from between 1 and 3 invoice discounting lenders who will have your details and offers ready.

  • How do you decide which invoice discounting lender is best for you?
  • How do you know if you are getting the best invoice discounting deals?
  • Do you have the time to ring around all of the invoice discounting lenders going through the painstaking process of giving all your details and requirements over and over again?

By using Quotesy for invoice discounting, you can rest assured that the above 3 questions are being taken care of by industry leading experts and that you are going to be getting the best invoice discounting deals on the market. Save yourself time and frustration by letting us do the leg work for you!

Advantages of Invoice Discounting

There are many advantages of invoice discounting, such as being a very easily accessible form of business finance.

  • Increases Cash Flow.
  • Improves Working Capital.
  • Fully Confidential – Manage the Debt yourself.
  • Frees up Time to work on your Business.
  • Allows you to plan for Growth.
  • No Limit on Available Borrowing.
  • Better Debt Management.
  • Money generally paid within 24 hours of applying.
  • No Credit Score needed.
  • Low Risk Business Finance.
  • Easily accessible form of Alternative Business Finance.

Disadvantages of Invoice Discounting

It is important to remember that invoice discounting is an alternative form of business finance. As with any form of business finance, there are downsides – such as having to pay the money back, with fees!

  • You will have to manage and collect the invoice payments yourself – unlike with Invoice Factoring.
  • Invoice Discounting can be classed as short term finance so can have higher rates.
  • It may seem asif you are getting less money for the work you do – but it is important to remember that invoice discounting is a form of finance and it needs to be paid back – from the collection of your invoices.
  • Complex exit process – It can sometimes be difficult to exit a discounting agreement if you suddenly have less money coming in – but it is not a major problem if managed correctly.

As with all forms of business finance, invoice discounting does have it’s down sides – allthough in our expert opinion, we believe that the advantages of invoice discounting outweigh the disadvantages of invoices discounting by a good margin. You will have to make the decision for yourself using the information we have provided you with.

Invoice Discounting Lenders

There are many invoice discounting lenders and brokers out there who all offer their own benefits with varying fees and service charges.

The top 10 Invoice Discounting providers in the UK are (in no particular order):

Invoice Finance Options - Touch Financial
Invoice Finance Options - Bibby
Invoice Finance Options - HSBC
Invoice Finance Options - Hitachi
Invoice Finance Options - Close Brothers
Invoice Finance Options - Aldermore
Invoice Finance Options - Lloyds Bank
Invoice Finance Options - Skipton
Invoice Finance Options - RBS Royal Bank of Scotland
Invoice Finance Options - Market Invoice

Apply for Invoice Discounting

You have 2 options when you want to apply for invoice discounting.

Firstly, you can trawl the internet and call as many invoice discounting companies as you can find – repetitively giving your details and requirements over and over again, while frustratingly trying to work out which is the best deal for you, or..

Secondly, you can apply for Invoice Discounting with Quotesy. All you have to do is take 1 minute to fill out the form at the top of this page and we will do all the leg work for you. We have close contacts within the invoice discounting industry and we can get amazing deals on your behalf.

So to recap, when you want to apply for invoice discounting – simply fill in our form at the top of the page and then wait for a call from an invoice discounting company, who will already have your details and requirements at hand – saving you time, frustration and money!