ScotPac Invoice Finance
- Upfront Fee
- Establishment fee 1% of the limit
- Max. Loan Amount
- $200,000,000
- Loan Term
- 1 to 2 years
Summary
Get funding from $200,000 on your business invoices.
Invoice financing can be an effective way of managing business cash flow and removing the stress of chasing up outstanding invoices.
ScotPac offers invoice financing to businesses of all ages and funds up to 85% of the value of the invoice within 24 hours.
See if it's right for your business in our review.
Main points to consider with ScotPac Invoice Finance
With ScotPac Invoice Finance, you can access facility limits from $200,000 up to $200,000,000, which can grow with the value of your invoices. Your unpaid invoices act as security, so you don't need to put up property or other assets. Pricing depends on your turnover, customer profile, invoice terms and facility structure, and ScotPac will give you a quote tailored to your business. Once your facility is approved and set up, funds can be available in as little as 24 hours. You can receive up to 85% of the invoice value upfront, with the remaining balance released after your customer pays, less fees. To be eligible, your business needs to have been operating for at least 6 months and generate at least $10,000 in invoices each month.
Features of ScotPac invoice finance
- Large funding amounts. You can finance from $200,000 up to $200,000,000 in outstanding invoices.
- No minimum trading history. Finance is available to startups and new businesses, provided they have the turnover.
- Minimum loan term. There is a minimum 12-month term for invoice financing.
- Quick funding. Invoices can be financed within 24 hours.
What costs do I need to consider?
- Arrangement fee. You will pay an initial one-off fee.
- Service fee. This is calculated as a percentage of the processed invoices.
You may also be charged a recourse fee against old debts that are not paid 90 days after the month they are raised.
How you can apply
You can begin the application process by clicking "Go to Site" above. Your business will need to meet the following eligibility criteria to be eligible for invoice financing:
- Have a minimum turnover of approximately $1 million
ScotPac Invoice Finance can help improve your business cash flow. You should compare a range of business finance options before finding the one that's best for your business.
Frequently asked questions
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Thomas Finder
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