What is Invoice Finance?

Running a business is tough and one of the most frustrating things is finishing a job, sending the invoice… and having to wait 30, 60, sometimes even 90 days before getting paid.

That’s where invoice finance comes in.

So, what is it and how does it work?

Invoice finance is a way to get paid upfront for your unpaid invoices. Instead of waiting for your customers to pay, a lender (like Us) gives you up to 80% of the invoice amount within 24 hours.

Here’s an Example:

You’re a Plumbing Company
You’ve just finished a job for $100,000 and your customer is going to pay 20th of the following. You need to pay your teams wages, order more gear, and take on another job now but you haven’t been paid.

Instead of waiting another 20 days, you work with a company like Scotpac, in which we pay 80% of that $100,000 within 24 hours, hold back 20% or $20,000 and pay the remaining amount (minus a small fee) to you once your customer pays their bill on the 20th of the month.

You get the cash now, and your customer still pays you on their normal terms. Everyone wins!