Customer Finance is a modern upgrade on ‘old-school’ invoice discounting
Traditional invoice discounting is just another form of lending and requires liens on the entire ‘book debts’ of the company, personal guarantees, etc. There’s also lots of ‘hidden rules’ that only become apparent after you’ve signed the contract (that contains early exit penalties). It’s an ‘all or nothing’ service where you must process all your receivables through the lender (including all your small and cash paying accounts).
Following the Convertibill® Finance Formula, Customer Finance uses an alternative purchasing model that, in addition to removing the need for liens or personal guarantees, allows you to pick and choose what customers you wish to trade with us. You are not required to process all your small/cash accounts. You are in charge and are free to decide which customer accounts you need to finance. This saves time and money on administration and overall costs as a result.
Where the traditional invoice discounting models will have ‘disallowable’ invoices or accounts, 30, 60, or 90 day limits and other conditions, Convertibill® Customer Finance does not limit you with these old-school lending rules. It uses the more common sense Expected Date and provides a finance facility on a per customer basis. And where lenders make you apply for credit limit increases, Convertibill® grows as you grow.
Convertibill® Customer Finance requires less administration, saves costs, is more flexible and is ultimately more user-friendly. For assistance on how best to use this type of finance, contact your Convertibill® Specialist or Branch Manager by:
Telephone: 01 685-3600 (Ireland) or 0844 774-7822 (United Kingdom)
Web: complete the form opposite
Making the difference to 1,000s of companies across Ireland