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cashflowfinance.co.uk
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Definitions (57)
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Retail Finance
A loan based on future debit and credit card sales. Suitable for businesses which deal direct with the general public.
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Glossary of terms
Accounts Receivable – Amounts owed to you by your customers where you have given credit terms and raised invoices ie your sales or debtor ledger.
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advance
The amount of money that an invoice finance provider will give you against your invoices. This is expressed as a percentage eg 85% of the invoice value is advanced to you.
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Asset Based Lending
A funder combines a range of facilities to raise finance against business assets of a company eg debtors, plant, machinery, property and/or stock.
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Asset Finance
A facility which releases funds based on the value of assets eg plant, machinery, property or stock. Can be arranged as hire purchase, leasing or stock finance.
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ASSIGNMENT
This transfers title of the outstanding debts to the funder. For disclosed facilities a notice is usually printed on to invoices to advise customers that the funder should receive payment.
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Bacs
(Bankers Automated Clearing System). Allows electronic payments to be made from one bank to another. A BACs payment takes 3 days to clear.
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Broker
A specialist who helps source a finance facility and makes the introductions to a finance provider.
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chaps
(Clearing House Automated Payment System). Allows electronic payments to be made and cleared the same day. Banks can charge up to £35 per transfer.
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concentration
Usually expressed as a percentage of the approved ledger, it is the maximum percentage that a funder will finance a particular customer to.
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