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Ideal Finance Solutions - Features

Payroll Finance - Facts

Helps to ease your cash flow by allowing you to borrow against the wages cost of your staff

  • For established businesses – usually trading two years plus, profitable, with a minimum turnover of £100k and at least 5 employees.
  • A flexible form of funding. Use it only when you need it – the minimum period is usually only 3 months. The funds can be used for any purpose.
  • An unsecured facility with no directors guarantees or additional security required
  • It doesn’t interfere with your existing funding relationships nor preclude you from seeking additional funding sources. It is a totally confidential facility.
  • The lender normally grants a funding line equivalent to 2 months PAYE and National Insurance costs and this revolves much like an overdraft.
  • Costs are based upon a monthly facility fee and interest is charged on the balance borrowed. Usually no exit fee once the minimum term has elapsed.