FAQs
6. What is the length of the agreement
The norm within the industry is 12 months and a notice period of 3, making it effectively a 15 month agreement.
7. Are there termination charges for early exit?
Almost definitely and often these can be considerable.
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8. Will I have to provide a Personal Guarantee?
Again it is very likely in the current climate that you will need to provide Guarantees, but these can be limited to a specific figure.
9. What are approved debts?
These are the debts on your ledger that the factor is willing to provide funding against. Within your agreement will be a schedule of all debts that would be considered “Not Fundable”
10. What is the average funding percentage offered?
Within the industry many lenders will fund as high as 90% of your approved sales ledger balance, however this is not the norm and should not be considered an average figure to work from.
11. Can I fund construction/contractual debt?
Within our lending panel we have a team who specialise in funding this type of debt, so please give us a call now and see if we can help.
The above are just some of the many questions you and your clients might have prior to thinking about entering into a debt finance facility, so why not call the experts and get some straight answers to some straight questions.
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