This page is provided to show you what to expect in the question section. There is question support alongside each question also and you can read these by hovering over the question mark.

Questions marked with an asterisk are a ‘must have’. There are not many but for the most accurate result you will need the most accurate information. The old adage is true – rubbish in rubbish out. 

Name and mobile numbershutterstock_178351865

The system will need your name and contact details as these are forwarded to your relevant providers so they can contact you. We will also ask how you like to be addressed as a matter of courtesy.
Company Name or number

Be aware the system will eventually need an email address to confirm your login to save quotes. 

As long as you input your company name the system will check at Companies House and pre-populate the rest of the details. All providers will need accurate details of you the borrower so they can do their own checks. There is no visible credit checking done at this stage.

Years Trading?

This question just requires the number of years you have been trading and is critical as some providers prefer a longer track record than others. The majority will consider New Starts.

Turnover of Business?

This helps define the most appropriate provider as each provider has differing underwriting criterion. The underwriting criterion will influence the actual charging structure so make this accurate as possible.

What type of facility do you want?

You have a choice of Invoice Finance and Selective Finance. The majority of providers will consider both but do you want to pick and choose which invoice you want to draw down on? If so select ‘Selective Finance’.
If you want a longer term facility using all your invoices then select Invoice Finance.

Value of invoice(s) you’d like to finance.

This question refers to the actual total balance value of the invoices you have outstanding currently (30,60, 90 days). So, if you are waiting to get paid on £500,000 on the total sales ledger then that is the correct value.

How much funding do you require against the invoice(s)?

This question refers to the funding required against the debtor book balance. So, if you have entered £500,000 as the value of the invoice/s you’d like to finance – how much of this do you want advancing ideally? This is a monetary field so input the amount you would like.
Your instinct may be to say all of it but be realistic. Despite what you may believe very, very few providers will advance 100%.

Approximately how much is owed on your sales ledger?

This question refers to the amount still to be paid of the Value of the Invoices you inputted previously. So if you have £500,000 owed in total then this is the correct value to input.

Number of invoices raised PCM

This question is as simple as it sounds – how many invoices are raised each month. This can help the provider calculate the work involved and underwriting risk.

What percentage of your debtor book does your largest client constitute?

This question allows the provider to assess the risks in the invoicing process. The more you have with one debtor the greater the risk. So any provider will want to assess what this risk is.

So, if the total debtor book is £500,000 and 50% is with one debtor the figure to input is 50 (note do not input 50% this is done for you).

What percentage of your debtor book do export clients constitute?

In percentage terms input how much of your debtor book is export related. So, if your total debtor book is £500,000 and half is involved in exporting the enter 50 (note do not input 50% this is done for you).

This is an important elimination question as some providers may restrict the amount of exporting they get involved in.

Top 3 Debtor/Customer Details

This question helps the provider assess the risks to your company and them if they agree to advance funds. Provide the company name or number, credit rating if you have it, turnover, years trading to get the best response.

Tell it like it is! There is no point in withholding information as it will come out later.

There is a help facility to help you find the companies in question. Simply start typing the company name or number and the rest will be pre-populated for you. Select and it will automatically be entered in the box below for you.

Invoicing & Order Process
The provider wants to understand how your invoicing process works so keep it simple and bullet point fashion. Step by step is best and keeping it short and to the point.

How long do debtors take to pay?

Quite simply what are the terms agreed with the debtors? 30, 60, 90, 120 days or more? Any provider will want to know when they are going to get paid if they are advancing your company money.

Do you currently have an Invoice Finance Facility?

The question is as simple as it seems – do you have an existing provider? Yes or No.

Home Owner

This question can help improve the terms some providers will advance on. It does not mean you will automatically have to put your home as security. In fact very few lenders insist on the family home as security.

HMRC Arrears Amount (Optional)

If you have HMRC arrears this can be an indicator of wider problems. However this is an optional question and you can discuss with the provider later if you wish.

Approximate Trade Creditor Balance (Optional)

This is an optional question but some providers will want a full picture but you can discuss this later with the provider if you wish.

Any legal action being threatened or taken?

This question helps the provider get an overall picture of what is going on and why the funding is required. Don’t be put off by the question most providers will tolerate a degree of credit problems due to the lack of cashflow.

Any information that you feel would be relevant for a funder?
This is a chance to provide any information you think may also be relevant but couldn’t provide earlier. Or add to, or clarify what has been inputted already.