Bodyshop Finance
Does managing your money take up more of your time than managing your business? We can take away the headache of uncertain cash flow and chasing payments. Bodyshop Finance has been specifically developed to take the stress out of waiting to get paid and the hassle of chasing unpaid invoices. We finance your invoices and then manage the credit control on your behalf.
- We can finance some or all of your outstanding invoices thereby providing you with an immediate injection of cash for your business
- Our funding grows in line with your sales but if you don’t need it you don’t have to use it. It’s as flexible as a credit card but at a fraction of the cost
- We save you valuable management time by chasing and collecting outstanding invoice payments on your behalf
“This is cash on tap. If you don’t need it you don’t use it.”
How does Bodyshop Finance work?
Our Bodyshop Finance facility is simple and easy to use. There are four easy steps:
- You choose which invoices you want to finance. When you send the invoices to the insurance company* you attach a notice asking them to pay us.
- You send a summary sheet and a copy of the invoices to us (this can be sent on-line) along with authorisation note from the insurance company* and the customer-signed satisfaction note. We immediately make available up to 90% of the invoice amount.
- We transfer funds by electronic payment directly into your bank account (normally the same day that we receive the invoice).
- When we collect payment from the insurance company*, we foward the balance (e.g. 10%) minus charges to you.
* or management company / motor manufacturer
Why use Bodyshop Finance?
Instant Funding
No waiting to get paid - we have funds in your bank account within 24 hours.
Flexibility
You choose which invoices and when.
Growth
The facility grows as your sales grow.
Time Savings
You save valuable management time as we chase and collect the outstanding invoices.
What does it cost?
We charge a flat rate of between 1.0% and 2.0% per month on the funds advanced.
