What is Recruitment Finance?

Recruitment Finance comes in multiple forms. The most common funding option for those operating within the recruitment sector is Factoring. This is a line of funding that keeps cash flow running through your business, removing the stress of a low in cashflow. Invoice Factoring lenders can offer cash flow management solutions with all kinds of recruitment companies, irrelevant of the sector, whether they are temp staff, or permanent.

Factoring is a popular funding solution for those within the recruitment industry, as it has additional benefits. Aside from boosting cash flow, some funders will offer to assist you with your back office operations, cutting the burden of admin.

Management of finances is vital if you plan to grow your business, and Invoice Finance may be the solution. Invoice Finance allows you to release up to 100% of your invoices due, meaning you never have to worry about lengthy payment terms again. This prepayment figure can vary, and depends on multiple factors, such as your turnover and the strength of your business profile.

There are other forms of Invoice Finance that also help to support your cash flow management, and aid you as you grow your company. 'Client Handles Own Credit Control Services' (CHOCCS) is a product that allows you to remain in full management of your credit collection processes. There are plenty of benefits to this, such as being able to continue consistent contact with your clients, keeping a close relationship whilst using a funding partner.

While you continue to grow as a firm, you can still access Factoring facilities, as well as Confidential Invoice Discounting (CID), and Spot Factoring facilities. All of which are tailored to supporting you as you grow, aiding your cash flow and working capital.

Business Loans are a common product for recruitment companies, working with our lenders to give you a boost in your cash flow and working capital. With up to £5 million, or even more in some cases, available as a secured loan, or £500,000 available as an unsecured loan. A loan can massively affect the way you work, and support you as you grow.

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Eligibility

Turnover

Unless you are a new start-up company, the minimum turnover most lenders will deal with is £250,000.

Trading History

Similarly to Turnover, start-up companies can get funding, however a minimum of 6-12 months trading will give you access to a much more broad range of lenders on our panel.

UK Registered Businesses

Due to us dealing with UK Based Lenders, we can only find funding solutions for UK Registered Limited Companies.

FAQs

How much will a Recruitment Invoice Finance facility cost?

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The cost of the facility will depend on a few factors. These are essentially decided by what you want from the facility, and how large your business is. Different lenders have different costs & fees that go with the arranging and running of your facility, but the main charges that go with running an Invoice Finance facility are the service fee, which is a percentage of the invoice value, and the discount fee, which is calculated from the amount of money advanced to you.

Am I eligible for a Recruitment Invoice Finance facility?

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Eligibility varies largely from lender to lender, with some being more flexible, some more rigid with their criteria. The basic criteria for applying for an Invoice Finance facility is as follows:
£250k minimum turnover
UK Registered Business
If you don’t meet this criteria it isn’t the end of the road, other funding options are available, and this can be discussed with one of our consultants.

How long does it take to set up a Recruitment Invoice Finance facility?

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Invoice Finance facilities can be completed in as short as a few days, although the process can take longer. Our aim is always to make the process as quick, and simple as possible.

How much money can I get as a Business Loan?

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Business Loans can vary hugely in amount. With an Unsecured Business Loan, anything between £10,000 and £350,000 can be funded. With a Secured Business Loan, the range can be anything between £25,000 and £2,000,000.

Why JD Capital Finance?

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We are not your average broker. We strive to find you the perfect funding facility for your business, in the easiest way possible. We designate a member of our team of specialist finance consultants to you, walking you through the entire process until the funds are in your hands.

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Disclaimer: Spark Finance Ltd (Registered office - 18 John Stow House, London, England, EC3A 7JB, Registered Number 10128297) helps UK firms access business finance. Spark is a credit broker, not a lender. Any quotes provided are for information purposes only and subject to status and separate lender terms and conditions. Applicants must be aged 18 and over. Guarantees and Indemnities may be required. Spark Finance may receive commission from lenders which may vary depending on the lender, product, or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.

Spark Finance Ltd is authorised and regulated by the Financial Conduct Authority in the UK (FRN 958123).

Recruitment Finance

What we do

What is Recruitment Finance?

Eligibility

FAQs

How much will a Recruitment Invoice Finance facility cost?

Am I eligible for a Recruitment Invoice Finance facility?

How long does it take to set up a Recruitment Invoice Finance facility?

How much money can I get as a Business Loan?

Why JD Capital Finance?

Reviews from our clients

Spark Finance

Funding Solutions