I would simply fill it out say £5,000 Invoice at 10% (£500 credit charge) and client pays 10 payments of £550. On submitting the form, my business got paid in full within 7 days, client paid the instalments to clear the invoice, win win.
A kind of factor set up only 100% payment to my business and no credit checking, just dam easy to process and get paid.
Today, I am involved with one business where we have something like £140k on the invoice book, all paying on the drip. It has been as high as £240k. Some over 10 payments some 6 some 8 in fact all over the show and I’m looking at ways to get some control over it.
These are B2B invoice transactions at various levels from £1000 to £10,000 BUT a lot are SMEs that pay OK but might not pass a credit score nor would I want the hassle of credit checking them all.
Can anyone recommend any credit invoice facilities that could be good for this? And advise what the typical terms might look like? Simplicity is key. Thanks in advance.
Pork’s
