How does invoice finance work?
In a perfect world, customers would have reasonable payment terms and always pay on time. Unfortunately, that’s not always the case which is why invoice finance has been used by businesses for thousands of years.
Having reliable access to cash flow is essential for any growing small business. Whether it’s for paying suppliers, your employees, investing in equipment or stock or simply having the confidence to take on that big new order, having cash available when you need can ease a lot of the stress of being a small business owner.
How invoice finance helps cash flow
Invoice finance lets you unlock cash from your unpaid invoices. Rather than waiting for your invoices to be paid, you can smooth business cash flow by bringing forward some of the funds you are owed. These funds can be then used for business operations or to invest in growing your business.
How does Skippr invoice finance work?
You can start to draw funding once you are on-boarded. Your available funds are linked to the amount of eligible receivables which are invoices that we agree are eligible for funding. As invoices are raised and paid, your eligible receivables amount and in turn your available funds is updated. You can simply request funding through the Skippr platform and receive same day funding.
The Skippr platform also has a simple and easy to use receivables management tools that help you get your invoices paid sooner.
Your customer invoices will be paid into a new collections account set up by Skippr in your name and payments will be used to pay off your loan and you will receive the excess.
Skippr’s integration with Xero lets us post transactions relating to drawdowns and repayments back to your Xero so you can reconcile easily with bank transactions.
Find out more about how Skippr’s Invoice Financing can solve your cash flow problems and book a meeting with us today.