Although we’re not actually using IGF to fund our invoices – merely to collect and record them – it’s good to know that we have a funding facility available if we need it. 
Factoring
At IGF Invoice Finance we supply Sales Ledger Finance and Management packages to UK business with turnovers generally between £100,000 and £10m per annum, including startups and management buyouts/buyins.
Our basic criteria
The business must be raising invoices where the goods or services have been delivered prior to an invoice being issued to the customer. Generally we are looking for a reasonable spread of customers but high customer involvements can be accommodated at up to 70%, if the payment performance, credit ratings and ‘collectability’ of the debt prove favourable. The facility can be ‘selective’ if required.
Suitable business sectors
We will consider all industry sectors.
Funding
We can make available a funding prepayment of up to 90% of the gross value of all unpaid sales invoices. The remaining balance, less charges, is paid as customer invoices are settled.
Fees
Our fees range between 0.5%-3% of factored turnover and are determined by client sales ledger workload and the level of involvement our clients wish us to have with regard to credit control.
We also levy a discounting charge of 2-3% over base rate on outstanding funding drawn down by the client. This is calculated daily and charged on a monthly basis in arrears
Sales ledger & credit management facilities
We offer individually tailored packages to each of our clients ranging from limited collection services with the client retaining credit control or selective collection services to full credit control and sales ledger management where the client wishes to outsource this operation.
If bad debt protection is required then this can be arranged as part of any package we offer.
This not only covers for possible bad debts but also allows for greater funding flexibility.
Contract
Our contract is usually for a minimum of 12 months with 6 months notice and will involve a minimum annual administration charge based on our clients’ projected turnover. This is not an additional charge.
Security
This will depend on whether the business we are funding is a limited company, sole trader or partnership. Generally we take a fixed charge over the company’s book debts or sometimes a debenture.
We also ask for director’s personal indemnities, dependent on the financial performance and set up of each client.
For further information, please call us on 08452 30 40 50 and ask for details of your nearest IGF Representative.