CBILS Term loan + Invoice Finance

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Criteria

Loan structure

Initial Requirements

The Process

Step 1

  • The Initial Requirements will be packaged into a from acceptable to the lender.

  • The lender will confirm an initial acceptance of the proposal and an outline offer in principle

  • If this outline offer is acceptable to the client a non-refundable application fee of £495 plus vat is payable to QED Finance.

Step 2

A detailed list of information will be requested to include (but not limited to)

  • Director CVs and proof of ID and address

  • Directors personal assets and liabilities statements

  • 12 months day books from accounts package for invoices, credit notes, cash receipts (in CSV format) OR last 12 months end of month statements from current Invoice Finance provider.

  • 5 copies of typical paper trail (order and corresponding invoice and customer sign-off)

  • 5 copies of typical remittance advices (if available)

  • Confirmation of HMRC position from HMRC Gateway system showing PAYE and VAT situation.

  • Copies of 5 largest credit notes (by value) raised in last year.

  • Standard terms and conditions of sale and any contracts that you are bound by.

Note:
  • The above requirements for Step 2 are the standard requirements from an Invoice Finance lender at audit stage.

  • No onsite audit will be carried out; thus, the production of accurate information is an absolute necessity.

  • Only clients that have appropriate accounting systems in place can be considered for such a facility.

Once the above information is considered in detail the lender will provide a confirmed full offer of facilities. As long as the offer has not altered materially from the outline offer. Then the packaging fee becomes payable to QED Finance.

If the offer of facilities is accepted the signing and pay-out process will be handled remotely. From initial application to pay-out is unlikely to be less than 2 weeks.


Apply for Term Loan and Invoice Finance