The Just group provide 2 cash flow finance products
Revolving Credit Facility (RCF)
The revolving credit facility (RCF) is suitable for those businesses that need to dip into the facility from time to time, i.e. when a debtor pays late or they find themselves short when they have to make payment to say HMRC. With the RCF they can go up to the maximum facility agreed at any time whilst the facility is open, which is normally 12 months.
Pay-Down Facility (PDF)
The pay-down facility (PDF) is for those organisations that require a large lump sum into the business straightaway and they would then pay that down over a period of months at an agreed schedule. They can only re-borrow any funds paid down by making a new application for that.
The payments are agreed terms which are very flexible and it is up to the client to propose to us how they would like to repay that facility. For example, we have agreed with some clients that they will pay us down each quarter; others will pay down in the first quarter but then nothing for the next 4-5 months due to the seasonality of their business. They will of course only pay interest on the daily amount outstanding.
The lending criteria for each facility are the same. The same application process is used for each product, i.e. the applicant and the account director will agree the most suitable product for them, and of course they could also swap and change at any time. So for example, they require a lump sum initially but then, having paid that down, they wanted the revolving credit facility, they could apply for that.
Interest rates for the PDF offering range between 0.1% to 0.2% per day. Typically at the moment the daily charge is 0.125% or 0.15%, i.e. Borrowing £100,000.00 would cost around £125 per day.
If you are interested in receiving a free quote for your Invoice Finance project or would like to get in touch with Just Cashflow;
Please note: It is essential that you keep up to date with the latest changes that might affect your business. You can keep up-to-date with the latest taxation updates from the HMRC online webinar programme.
Gateway 2 Enterprise are not a Lender nor a Broker. We provide Business Finance/Investment Solutions including Personal Investments supported by our Business Advisors.