• Finance Against Fee Notes For Accountants

    There is a specialist niche form of finance available to accountants who raise fee notes as they undertake work for their accountancy clients. These notes are not invoices, they are just a record of work that has been undertaken. However, funding can still be accessed against them.

    Finance can be provided against your "fee notes", raised to keep track of the work that you are doing for your clients. This funding is provided before you raise the invoice and receive payment, injecting additional cash flow into your business - for an extended period of time, as explained below.

    Finance Against Fee Notes For Accountants

    The funding can be provided for up to 6 months (a very extended period of time), so it can be useful in bridging the cash flow gap between undertaking the work, and getting paid by your client.

    Typically, a prepayment of between 70 and 80%, of the value of the fee notes, can be made available to you. Accountancy practices are likely to have a turnover in excess of £500K per annum, in order to qualify, and more than one partner. However, if you don't meet those criteria we may still be able to find you the funding that you need, so please don't hesitate to get in contact with us.

    Funding Levels

    To give you an idea of the funding levels that might be achieved, if you had outstanding fee notes of say £100K, a prepayment of 80% could release up to £80K in one lump sum (note that there may be other deductions made in some cases - details can be provided on application). That could be a significant amount of additional working capital made available to your business. You simply draw down the funds into your normal bank account and use them as you see fit.

    Acquisition Finance

    You can use the advance for any purpose, this can include as acquisition finance, to assist in the acquisition of other accountancy practices.

    If you are interested in finance against fee notes for your accountancy firm, please get in touch with us for a price quotation.

    Other Information

    Previous article about (note the parameters were slightly less generous than this offer): Funding against accountant's fee notes.

    Share with:

Related articles

  • Read More

    Budget For Your Invoice Finance Charges

    We had an enquiry recently for funding for a small recruitment startup that was expecting to turnover a few hundred thousand pounds sterling. We provided them with a quote for factoring, prepayments against invoices and a credit control outsourcing service.The quote we initially found was for an all inclusive fee of £3,800 + VAT per annum. Which is reasonable for a whole turnover facility that...

  • Read More

    How Many Invoice Finance Quotes Do You Need?

    We had an enquiry from a prospective client who was looking for invoice finance quotes and, as is sometimes the case, they told us they hadn't been speaking to anyone else. However, once we started searching the market for them, it became apparent that they had used at least 2 other brokers already - each of whom would have contacted numerous funders. One of our funding partners had received the...

  • Read More

    Updated Info Pack From FundInvoice

    We have just updated our info pack, which is our version of a brochure outlining our services. Its in a PDF format and it details the business funding and invoice finance quote search and advice service that we offer at FundInvoice.You can download a copy of our brochure/info pack here: FundInvoice Info PackIt includes:If you would rather just speak to someone about what you need please call...

  • Read More

    Invoice Finance Practices To Watch Out For

    Whilst having a meeting with one of our funding partners, we started discussing practices that can mislead customers, that we have come across around the invoice finance industry. I thought it might be helpful to put up a list of these practices so that customers can watch out for them.I have posted before about the research we have conducted into the setting of minimum fees. Most of the whole...

  • Read More

    Why Factoring Is Used

    In my blog post yesterday, I wrote about the perception of one of the invoice finance providers that factoring is growing in popularity. To a certain extent, in recent times, the industry statistics do show a slight swing towards factoring products, as opposed to invoice discounting.This post just explains the reasons why companies use factoring rather than other forms of invoice finance.The key...

  • Read More

    The Difference Between Profits And Cash Flow - Need Help?

    There is a huge difference between profits and cash flow. A business can be very profitable but still have poor cash flow - profits are no guarantee that you won't run into a cash flow problem. Even the big businesses can feel the effects of cash flow restrictions.In high level, layman's terms, profit is what you make on your sales, your profit margin. Cash flow is how the money from sales moves...

  • Read More

    34% Average Invoice Finance Cost Saving Achieved

    From time to time we check the average cost savings that we are achieving for our invoice finance customers.As at August 2018, over the previous 12 months, we have found average cost savings of 34% for our invoice finance customers seeking price reductions on quotes received from other invoice finance companies.CHECK HOW MUCH YOU COULD SAVE ON INVOICE FINANCEWe achieve these savings by being able...

  • Read More

    Nucleus Commercial Finance Lowers Its Unsecured Business Loan Rates

    Nucleus Commercial Finance has, as of yesterday, lowered its unsecured business loan rates once again.Interest rates now start from a flat rate of just 5% (for an "A band" credit risk client, with a business loan on a 3 to 12 month term).CONTACT NUCLEUS COMMERCIAL FINANCEThey are able to offer longer terms, up to 36 months, and they will deal with lower credit risk clients, but the rate will...

  • Read More

    Hive Project Strike Deal With Gosocket Over Half Billion Of Blockchain Based Invoice Finance

    It was nice to be contacted by a representative of the Hive Project to advise, prior to general release, that they have struck a huge deal with Gosocket, to establish a joint invoice financing platform, in Q3 2018, based on their blockchain invoice finance technology.They report that there are half a billion of eInvoices ready to be funded via this portal.Gosocket is a network that connects...

  • Read More

    Free Guides Relating To Business Finance

    This post sets out a number of free guides and "how to . . ." articles that relate to getting invoice finance and also leaving that type of funding.We have a number of related advice articles and guides about how to stop using invoice funding:...

  • Read More

    Tony Lee - RAFTS Regulatory & FinTech Services

    Pleased to catch up recently with Tony Lee, a colleague of mine from when I worked as a business consultant. He has just launched a new consultancy service called RAFTS (Reg & FinTech Services), which may be of interest to the financial services organisations that read this blog.If you are looking for support with any aspects of financial services, you can use the following contact form to...

  • Read More

    Same Day Business Funding - A New Record Turnaround

    We have just set a new record for the time it takes to turnaround a business finance enquiry. We arranged same day business funding for a client, with approximately 7 hours between enquiry and them receiving cash from the finance company.That's a new record turnaround for us!REQUEST A CALL TO DISCUSS FUNDINGWe were contacted in the morning by a car crash repairs coachworks business that were...

  • Read More

    5 Financial Mistakes You May Have Already Made

    Below is a list of five common financial mistakes, that you may have already made within your business.It is very common within a business for the prime movers to use their own money to support its cash flow. This may be in the form of a cash loan to the business, or it may be that you pay for business expenses on a personal credit card, or from your own cash savings.This may seem like a...

  • Read More

    Resubscribe To FundingVoice Magazine Ahead Of GDPR

    There has been a deluge of GDPR related opt in requests received recently. It might seem like every business you deal with are contacting you to ask you to confirm your marketing preferences or to opt into receiving their messages.Put very simply, GDPR (General Data Protection Regulation) is new legislation that relates to your data protection rights, and it is due to take effect from tomorrow....

  • Read More

    10 Ways To Make More Money

    These are 10 simple ways that you can potentially boost your company’s income, and make more money.1) Increase your prices by a fraction – if you don’t already increase your prices annually, in line with inflation, you could introduce this, or you could make a small price increase in order to cover rising cost.2) Ask your existing customers for more work – this could be in the form of...

  • Read More

    Calculating The Cost Of Leaving Invoice Finance Or Factoring

    Calculating the cost of leaving invoice finance depends upon the type of facility that you have, and the nature of the agreement that you have entered into.There are various aspects to calculating the overall cost. Firstly, there may be a termination fee. Secondly there may be additional costs that you will incur by having to undertake certain tasks yourself, that were previously undertaken by...

  • Read More

    Factoring Advantages And Disadvantages

    If you are looking at using factoring as a source of funding for your business, you may be interested to understand the pros and cons.Below I have set out the factoring advantages and disadvantages in simple terms, so that you can make an educated decision.The biggest advantage is the improvement to your company's cash flow. As you raise new invoices to your customers on credit terms, they are...

  • Read More

    IGF Have GBP30m New Funding Line From The British Business Bank

    Hot off the press, we hear that IGF (Independent Growth Finance) have a new £30 million funding line from British Business Investments, which is part of the British Business Bank.The British Business Bank, which has it's headquarters in Sheffield, is a development bank that is wholly owned by the UK Government. It was originally announced, back in September 2012, with the objective of increasing...

  • Read More

    Business Finance For Startups

    I thought I would conduct a small piece of research to find out how easy is it for a new startup to find its way to business finance brokers such as ourselves, that can help with invoice finance products.I used the situation of a company that is highly suited to using some form of cash flow funding - although they may not know the name of the product that they are looking for. The result was that...

  • Read More

    Free Confidential Advice About Business Problems

    If you are having business problems, you might feel that you would benefit from a free discussion, with an expert, in confidence. You could benefit from free advice from external parties that may be able to help.There maybe a variety of different business problems that you are experiencing, but some of the common ones may be a lack of sales, poor cash flow or potential insolvency. In each...

  • Read More

    Debtor Backed Loan With No Trust Account

    If you are looking to get out of factoring you might be interested in an option that presents a halfway house solution. This particular product offering is what could be described as a debtor backed loan.It is early days with the provider, we are in the process of agreeing terms, but is an interesting product that could be very attractive to businesses that are concerned about having funds paid...

  • Read More

    Cheap Invoice Finance Offer

    Our funding partners often come up with invoice finance offers and discounts to try and attract new clients. We have had one offering from one or our partners who is willing to offer a pricing discount to just a handful of new customers each month, in order to help get them across the line and onto their book as clients.This offer hasn't been added to our list at this time as we have only just...

  • Read More

    5 Tips If You Only Have One Customer

    Most businesses start with one customer, however remaining reliant on just one customer can have serious consequences, which I detailed in my recent blog post "Help with invoice finance prime debtor problems". Whilst the problem is particularly problematic if you are using factoring or invoice discounting, the risks to your business also apply if you don't use this type of funding.The...

 

 

Examples of just a few of our finance partners:

inksmoor
closebrothersinvoicefinance
nucleus
skipton
hitachi
funding invoice