Invoice finance providers can help smooth out cash flow issues caused by outstanding receivables. One of the more SME-friendly options we’ve seen comes from Calverton Finance.
Calverton Finance was founded in 1998 and recently celebrated an invoice finance milestone of £2 billion. A specialist provider, Calverton offers a diverse range of invoice financing. But these products, needing an annual turnover of only £100,000, all focus on the SME market. According to Calverton, it prefers to build and nurture relationships with long term customers.
Each of Calverton’s products release up to 90% of the invoice’s value directly to you upon issuing. Once the invoice is paid, Calverton Finance returns the remaining amount to you, and withholds incurred fees.
Calverton Finance’s offers include:
What’s more, Bad Debt Protection is available on each of these products. So if a customer fails to pay within 150 days of the due date, or enters insolvency, you can recover the debt minus an Administration Fee (£1,200 or 0.5%, whichever is greater).
Note: all of Calverton Finance’s products are limited to financing between £25,000 to £500,000.
As with most invoice finance providers, Calverton Finance do not disclose their fees publically. However, subject to eligibility, the say they will be able to provide quotes within 24 hours.
Although they do not disclose their fees, they do say that facilities are available with no minimum charges — making them a good choice for businesses with lower turnover.
Possibly: if you have lower turnover than the bigger invoice financing providers require. But, without knowing associated fees, it’s impossible to say how competitively priced Calverton Finance is.
We searched, but couldn’t find any customer reviews online. According to their own internal survey, 98% of their clients are ‘Extremely Satisfied’ with their services and would recommend the provider to others. Given this is their own survey it is debatable how reliable these figures are.
By focusing on SMEs and long term relationships, Calverton Finance presents itself as a trustworthy partner. Having access to an online portal is a great bonus too. However, we were disappointed — if unsurprised — by the non-disclosure of its fees and the lack of impartial customer reviews.