Factoring & Invoice Discounting Funding at 0% Over Base Rate

We have just been given first notification of a special offer from one of our funding partners. For a limited time they have launched a fund of money to provide new clients with funding at 0% over base rate for the first 3 months of their factoring or invoice discounting facility.

The discount charge saving offer is open to any client seeking a funding line of up to £1,000,000* but it is only available until the 30th September 2010 or until the fund runs out (whichever is the sooner).

This is a good example of innovation amongst the invoice finance companies that clients should take advantage of whilst the opportunity exists.

As an example, a client receiving funding of the full £1,000,000 at, for example, 3% over base rate - would save £7,500 over that 3 month period by receiving that funding at 0% over base rate for the first three month period.

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* Subject to our funding partner's normal underwriting criteria, a minimum service charge of £5,000 per annum and a minimum contract period of 12 months+.

Posted: 7th of June 2010