Receivables funding is an arrangement in which a Borrower accesses financing from the Bank on the back of their expected receivables e.g. amounts owed to the Borrower by reputable customers. The Borrower cedes their rights to the receivables to the Bank and this forms the principal source of repayment for the facility.
- Company Profile
- Proposed security: Shareholder / Director’s guarantees / Title Deeds / Credit Insurance
- Statement of net worth for the directors (estimated values for Personal Assets and Liabilities.)
- Company Resolution to borrow (authorizing nominated company directors to borrow on behalf of the company).)
- Memorandum & Articles of Association (copy).
- Certificate of Incorporation and or Business Operating License (copy).
- Bank Statements for the recent past 6 months.
- Facility Application letter on Corporate Letterhead stating the nature/type and amount of facilities being sought.
- Tax Clearance Certificate (Current)
- Confirmed Order (from a Reputable Offtaker)
- Aged Analysis of Creditors & Debtors
- Letter of Undertaking from Offtaker to route proceeds through GetBucks.
- Latest Management Accounts
- 3 Year Annual Financial Statements
- 12 months Cash flow projection
- Directors and Management Profiles
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