Cheapest Invoice Finance Deal for Recruitment Agencies
Using our 11+ years’ experience to set-up over 75 invoice finance arrangements for our recruitment agency clients, TBOS has managed to secure one of the cheapest deals on the market for our clients who need funding on their contractor and permanent placements.
This invoice finance deal is open to new start recruitment agencies starting with TBOS Complete, looking to secure their first invoice finance arrangement.
It is also available for existing recruitment agencies moving to TBOS Complete with sub £2m turnover who are already using a Pay-And-Bill Company or have their own invoice finance arrangement with another provider.
TBOS can provide a no-obligation projection on the possible cost savings by using a combination of our TBOS Complete solution and this unique invoice finance deal.
Once credit approved, TBOS would help with the set-up process and, if necessary, the transfer from the existing funding provider.
If your recruitment agency has a turnover above £2m, then the rates achieved should be equal to or lower than this invoice finance deal and can be quoted accordingly.
New TBOS Invoice Finance Deal
- Confidential Invoice Discount Facility
- Service Charge with Credit Protection @ 0.85% or Service Charge without Credit Protection @ 0.5%
- Monthly Minimum Fee @ £200 per month
- Discount Rate @ 2% above Bank of England Base Rate (minimum base rate at 0.25%)
- Prepayment @ 90% on Contract/Temp and Permanent invoices
- UK and International/Currency Placements funded
- 100% debt concentration on the first year
- Initial £250k funding line with no limit increase fees in the first 12 months
- Set Up Fee @ £500
- Monthly Trust Account Fee @ £10 per Trust Account
- Rolling Contract with 1-month notice, three months’ notice after six months
INVOICE FINANCE COMPARISON
|INVOICING BASED ON £500 PER DAY||£38,970.00||£103,920.00||£155,880.00|
|TBOS Complete Fee||£340.99||£727.44||£1,091.16|
|Invoice Discount Service Charge||0.85%||£341.25||£893.32||£1,334.98|
|Invoice Discount Interest Rate||2.00%||£61.26||£163.35||£245.03|
|TOTAL PROPOSED OVERHEADS||£743.49||£1,784.11||£2,671.17|
|External Accountant Cost||£250 pcm||£250.00||£250.00||£250.00|
|TOTAL CURRENT OVERHEADS||£1,613.95||£3,887.20||£5,705.80|