Secure an invoice finance facility for your business. Keep control of your own credit control. Simply have the funding support from the invoice finance company. Get in touch with a funding expert to find out how.
Pinnacle Invoice Finance
What is CHOCC Invoice finance Facility?
- A CHOCC invoice finance facility is an abbreviation for
- CHOCC Factoring- Client Handles Owns Credit Control.
The main difference between invoice factoring and invoice discounting is the collection of payment through credit control and a trust account being set up to receive payments. If you are a new start business who is looking for funding or have annual turnover levels less than £300,000 then a CHOCC facility could be the answer. This is because it works like a factoring facility whereby you get an agreed pre-payment percentage paid to you typically up to 90%. However, you administer the credit control maintaining debtor relations. Invoice discounting is reserved for larger businesses with a trading history and are looking to grow the turnover further. Whilst a small business or start up business is building its platform, a CHOCC factoring facility can make the difference in supporting business growth and cash flow.