Skipton Invoice Finance

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How invoice financing works

The order
Create an invoice for your customer, showing how much is owed to your business and when payment is due.
Cash advance
Send a copy of the invoice to a lender to release up to 100% of its value as a cash sum.
When it is due, the lender receives the payment from the customer. The lender then sends your business any remaining amount on the invoice that wasn't originally financed, after deducting the prearranged fees.

This comparison service is provided by Touch Financial. Touch Financial is a finance broker, not a lender. Not all products offered by Touch Financial are regulated by the Financial Conduct Authority. They compare invoice financing services from a range of different lenders, aiming to find the one that best suits the needs of their business customers. Touch Financial consultants look at the profile of each business, including cash flow, accountancy needs, and any other specific requirements, to match them with the most appropriate invoice finance provider and product. Touch Financial is authorised and regulated by the Financial Conduct Authority (FRN:727220).

Last updated on 12 May 2022.

Skipton Business Finance Invoice Financing FAQs

Who is Skipton Business Finance?

Launched in 2001, Skipton Business Finance Limited is a subsidiary of Skipton Building Society which was established in the mid-19th century. Skipton Business Finance is a specialist provider for invoice finance solutions providing cash flow options for all types of British commercial operation.

What is Skipton Business Finance invoice financing?

Invoice financing with Skipton Business Finance is a product that enables a business to leverage its own sales ledger, taking unpaid or outstanding invoices and allowing a lender to provide a sum of money almost equivalent to it for use during borrowing.

Why do businesses use invoice financing?

One of the main issues forcing businesses to turn to the invoice financing Skipton Business Finance and other lenders provide is late payment from clients. If this constrains cash flow at a time when you wish to invest in equipment or personnel, invoice financing provides the much-needed cash injection that will enable you to do so.

How does invoice financing work?

Unlike business loans, which require a lengthy application process and having to take on debt, invoice financing is a sale, so you don’t have to worry about loan repayments or the interest that loans require. Invoice financing is about unlocking the money in your own invoices, so leveraging them is much faster.

What is invoice factoring?

If you wish to use invoice factoring, this means simply selling your invoices to a factoring company via your provider. The factoring company takes control of your invoices, making sure clients pay them as expected, while the lender transfers the funds directly to you.

Why use invoice discounting?

If discretion is paramount, you might instead wish to pursue invoice discounting. means you are liaising with the client instead, so they don’t have to be made aware of you leveraging incoming invoices for cash flow, unless you decide to tell them yourself.

How do I compare invoice financing products?

If you’re looking for the best way to compare invoice financing Skipton Business Finance can offer with the products other lenders have, try Touch Financial. By filling out this form or giving them a call, a specialist consultant will be in touch, to help you find the lender best suited to your lending requirements.

Do smaller businesses struggle to get invoice financing?

Smaller businesses may face more obstacles when looking to acquire invoice financing compared to larger businesses that have been operating longer. This is because some providers present criteria for invoice financing products which are more favourable to established organisations with a higher level of turnover and a lengthier business record.

Does invoice financing allow set amounts to borrow?

There are generally no limits as to what you can borrow through invoice financing, as this form of borrowing is designed to work alongside the level of cash flow your business is generating in invoices. The more you earn, the greater the potential sums you can leverage and borrow against.

Is invoice financing risky?

Risk is only an issue with invoice financing, if you agree to a recourse arrangement, as part of your Skipton Business Finance invoice financing facility. In that case, you are liable to repay the value of invoices back to the provider, if your client fails to pay.

How can you avoid these risks?

You can avoid the risks of failed invoice payment by signing a non-recourse agreement on an invoice financing facility. This requires your lender to absorb the risk by shouldering the costs incurred by clients who can’t repay the invoices you’re owed. The lender will charge a higher fee to compensate for higher risk on their part.

Services offered by this provider may change over time. Always check Ts&Cs.

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