CHOCC Invoice Finance

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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 payments through credit control and a trust account is set up to receive payments. If you are a new start business that 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 a difference in supporting business growth and cash flow.

Invoice Finance Facility for Small Businesses

It can be a great way for start-up businesses and small businesses to secure an invoice finance facility and maintain credit control. We have a wide range of invoice financiers on the panel at Pinnacle Finance who can support with setting up these facilities. So you can access business funding fast. In as little as 48 hours the fast finance can be advanced against your sales ledger and be ready for a business to utilise.

Easy Invoice Finance for your business

Get in touch with Pinnacle Business Finance, and we’ll do the rest to secure your commercial loan. This makes our services rapid, reliable, and, most importantly, relevant to your business, no matter how complex or unique your needs might be. The commercial loan can be in your account in under 24 hours! Contact us today using the contact form at the bottom of this page.

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