Funding against your monthly Wage Bill
Salary Funding is a new generation of business finance for paying your staff salaries, PAYE and NI commitment directly. It’s flexible and allows you to pay salaries weekly, monthly or a mixture of both in the same transaction.
In the same way as suppliers free up cash in a customer’s business by giving them credit on their supplies, salary funding frees up cash by giving customer’s credit on their wage commitment.
Salary funding pays a customer’s wage and PAYE commitments allowing them up to nine weeks rolling credit on payment.
Salary funding requires No Directors Guarantees or Charges over Assets to open a facility. 100% of the facility is available to re-use over any 9-week period as required without restriction.
We can offer facilities to businesses of any size or sector based on credit risk, this allows businesses to be assessed as a whole rather than on current invoices and asset value.
Charges work out Less than Factoring or Invoice Discounting, there are also No Penalties for Early Re-Payment and No Disallowable invoices to negotiate – please contact us to see the difference.
There’s no extra work involved in using the facility, simply carry on processing your payroll as usual and use the facilities instead of your usual bank facility to make payments.
The process of paying staff salaries and taxes is self-managed online and takes only minutes; all payments are delivered directly and securely by BACS on the day you choose.
A delivered statement of all paid transactions by post to your business, re-payments are made by direct debit making the facility ready to re-use as required.
Back to: Trade Finance
Business Assistance is accredited by the National Association of Commercial Finance Brokers.