- 23 Aug
Fixed Fee Factoring & Fixed Fee Invoice Discounting
Several of our funding partners now have fixed fee factoring and fixed fee invoice discounting products but we have just received word of another fixed fee invoice finance product launched by another of our funding partners.
The fixed annual fee is divided into manageable monthly payments, for example, a fixed fee of £3,600 per annum would be charged at £300 per month (plus VAT where applicable).
This flat fee includes CHAPS charges and there are no refactoring fees of other service charges making the charges very predictable and manageable.
The client does pay a discount charge (similar to how interest works) but that is only paid on the funds that are actually taken by the client.
An interesting innovation that might be of interst to some of you.