Single and Full Invoice Finance: what’s the difference?
Satago has launched Full Invoice Finance, the new way to fund and grow your business. But what’s the difference between Single and Full Invoice Finance?
In this article we’ll cover the benefits of each product and help you understand how they can help you access the cash you need to grow your business.
What is invoice finance?
Whether you’re hiring new staff, investing in equipment or taking on a new project, your business needs cash to thrive.
If your company sells on credit, you can unlock cash from your unpaid invoices using invoice finance. Invoice finance is a quick and simple way to ease cashflow while you wait for your customers to pay you.
What are the benefits of Full versus Single Invoice Finance?
Satago offers two types of invoice finance, Single and Full. You can choose the one that suits your business needs.
Whichever option you go for, you’ll enjoy fast approval and access to cash. Our platform even automates your month-end reconciliation, saving you a day’s admin each month!
What are the eligibility criteria for Single and Full Invoice Finance?
Full Invoice Finance is available to any business looking to finance between £100,000 - £2.5m that has an annual turnover upwards of £400,000.
Single Invoice Finance is available to businesses looking to finance between £5000 - £2.5m with an annual turnover upwards of £60,000.
What our customers say
Unyte Energy is an independent company that tackles fuel poverty by helping homeowners reduce their bills and carbon footprint. Director, Craig Brown, came to Satago because he needed a solution to help them ease cashflow as they grew.
“Invoice finance works for us. Satago is on the ball, we get our funds in quickly so we can pay our installers. It’s as easy as that! Satago gives us the confidence that we can grow our business.” — Craig Brown, Unyte Energy
With Satago’s funding in place, Craig can accept more jobs and work with more installers. As a result, he feels confident that Unyte Energy will hit £12million in turnover this year.
How to apply
You can apply for Single or Full Invoice Finance online and receive a decision in minutes. Sign up to the platform and connect your accounting software. Once you’re set up, choose the invoice finance product that’s right for you and click to apply. It’s that easy.