Invoice Cycle

Invoice cycle offers business owners financing against their outstanding invoices and provides a quick and simple solution to help improve cashflow. Their online tools help them evaluate the business, taking into account assets that a traditional bank would not recognise. Their signup process is completely online and takes max 10 minutes. Invoice cycle’s approval process is usually completed within 24 hours, and they are able to lend a business up to 6 months of the annual revenue.

What type of funding does Invoice Cycle provide?

Highlights

requirments_icon1Loan Amount
Up to £50,000 (above £50,000 on a case by case basis)

Terms
Up to 7 months

Fund received
Up to 24 hrs

What do I need in order to qualify for funding?

To obtain invoice-backed financing, a business must have invoices that remain unpaid from customers.

How do I apply to get funding?

To apply for funding through Invoice Cycle, the business must register for an account through the online platform, and provide the unpaid invoices for which it wishes to receive compensation.

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What is the process to receive funding?

After the initial application process, Invoice Cycle will approve the business for a specific credit limit and allow the business to upload the unpaid invoices. The business can then take a cash advance, which is normally sent to the business within an hour.

Does Invoice Cycle run a credit check?

Invoice Cycle does not publicly declare whether or not it requires businesses or individual proprietors to undergo a credit check prior to receiving funding.

 

Do I have to provide security or a guarantee?

Invoice Cycle does not require any guarantee or collateral in order for a business to receive invoice-backed financing. Furthermore, Invoice Cycle specifically declares that debentures are not used in its financing model.

 

Are there fees involved?

There are no fees associated with signing up to receive funding through Invoice Cycle.

 

What are the loan rates?

For invoice-backed financing, Invoice Cycle charges a flat rate of .5% a week. For subscription financing, Invoice Cycle instead charges between 1 and 2% per month.

 

What documentation do I need to provide?

According to the website, the business must only provide and upload a list of unpaid invoices to begin the process, although further information may be required in the future.

 

How long will it take for money to get into my account?

The application process takes 10 minutes, according to the website. Most applications are approved within 24 hours, and the business may have access to a cash advance within an hour.

 

What happens in the case of a default?

Invoice Cycle does not provide any information on the circumstances surrounding the potential default of a client. It does, however, assert that no personal guarantees are required.

 

Is Invoice Cycle regulated?

Based on available information, it is unclear whether or not Invoice Cycle is currently regulated by any financial authority.