Once we receive your enquiry we will get back to you within 24-48 hours. We have the ability to visit your business and/or assess your company’s needs over the telephone. Once we understand your business needs we will provide you with an offer letter detailing our charges. If you are happy with the offer letter and costs, you simply sign this and you will be contacted to arrange opening a finance facility.
Inksmoor move fast. From Offer letter to receiving funds can be a matter of days. This all depends on the customer and their co-operation. Typically we would expect to give you a decision within 48 hours and once paperwork is signed and completed a transfer of funds within 24 hours.
Each business and market place is different, these are the major factors that affect invoice finance funding levels. The initial payment percentage will be outlined in your offer letter. Inksmoor can fund up to 90% pre-payment.
Inksmoor charge a one-off set up fee for getting the facility in place and then an interest charge based on funds borrowed. Each company is different and charges vary dependent upon the businesses situation and the industry in which they operate.
Inksmoor provide invoice finance on a 30 day rolling contract. We believe that our service speaks for its self and clients want / need flexibility. If you decide to leave you simply give us a 30 day notice period for us to collect in your outstanding debts.
Inksmoor provides both confidential and disclosed facilities. If you require a facility where your customers are unaware of our involvement, you require confidential. Disclosed facilities are provided where customers are aware of our involvement.
Inksmoor provide credit control on all facilities. We believe that this is the most efficient and cost effective way of collecting outstanding monies. If the facility is confidential then Inksmoor will complete all credit control activities in your business name.
Each business is different and so is the security taken by Inksmoor. Security taken over the business is usually a debenture or receivables charge. Cross corporate guarantees can be used in certain situations where there are common directors of other businesses or the business is part of a group of companies.
As a minimum Inksmoor require a personal guarantee from the company’s directors. In unusual situations further security may be required.
A personal guarantee is a written guarantee from a business owner guaranteeing that in the event a business does not pay its debts the individual (or group of individuals) will. A personal guarantee is not tied to a specific asset and takes into consideration all assets owned by an individual.
There is no minimum or maximum turnover required.
Minimum funds borrowed is set at £10,000, Inksmoor provide funding for start-up businesses through to well establish businesses. Funding is capped at a maximum of £250,000 of borrowed funds.
Yes we do and we can also help you understand and get to grips with our facilities.
All companies are considered. We help fund good businesses that may have had a tough time or are going through some financial troubles. Our flexible approach helps clients gain funding no matter what their financial past or current situation.
Yes we will check your businesses and directors personal credit history.
Yes Inksmoor runs online software giving all our clients online access.
This depends who owns your company’s debtors or if there is any registered security from another lender over your debtors. Dependent on the security registered by other lenders you can generally run invoice finance alongside other forms of finance.
Not necessarily, we can discuss with you if you wish to exclude specific debtors. We can bespoke a facility to your needs.
Inksmoor offers outsourced credit control to businesses who are looking to move away from traditionally having a credit controller in-house. Inksmoor take control of your sales ledger ensuring your debtors are contacted on a proactive basis. This helps eliminate bad debts and improves debtor days and cash flow as well as increasing working capital within a business.
Inksmoor many years of experience means that we work with you to help collect your debts in a timely manner and improve your businesses cash flow and reduce debtor days and bad debt. This is done confidentially so your customers do not know about our involvement.
Our fees are based on average number of live debtors and the profile of the sales ledger. In order to give an exact quotation we would require sight of the sales ledger. The fees / invoices are raised at the end of the month payable 7 days later by direct debit.
No they do not, our service is confidential. We act as your business ensuring monies are received to your bank account.
Inksmoor act confidentially in your businesses name. We can allocate you with a local number that becomes your accounts department or a non-geographical number. All inbound calls are answered in your companies name in a pre-agreed manner. Calls can be transferred to and from us. Your customers would not know we are not sat in the same offices.
We do not receive any of the company’s payments. Monies are still invoiced and received by your business, we are your outbound calling partner in ensuring the cash comes straight to your bank account.
This all depends on your IT configuration. If possible we take access to your accounting software meaning that we are working on up to date information. This includes new invoicing and payments in to the business. We have the knowledge to use Sage, Zero and many more systems including bespoke industry software. We can also work on less sophisticated methods like excel.
Yes, we can give you access to our online system that shows you our work rates, client disputes, payment promises as well as much more information including a bespoke reporting tool. If you wish us too simply use your software we can.
We would introduce ourselves as your credit control department. You would have one account manager that would deal with your account and so your customers would only have one point of contact. Your account manager works under the supervision of a Credit Control Supervisor.
We can send copy invoices and statements dependent on how you wish our service to work. This is a costed extra.
No security is required.
Generally the client does this however we can assist if we have access to bank statement. This is a costed extra service.