How Does Invoice Discounting Work?
Use our Online Platform to navigate and manage a simple 6-step process
1 Onboarding
Our Consultants will walk you through the onboarding process, where we would need to verify some pertinent personal, business and financial information. This is a once-off process and will not need to be repeated.
2 Platform Registration
Once you have been Approved by our Credit Department, you will be offered an Interest Rate (Discounting Fee), granted access to the FunderJet Online Platform and you will be assigned a Revolving Credit Limit.
3 Submit Invoices
Simply select the invoices that you would like to Discount, then Invoice your customer directly and submit the corresponding invoices and supporting documents on our Platform.
4 Approval and Payment
Your submitted Invoices will be processed through our Approval Process, and once approved, payment of up to 80% of the Invoice Value, will be paid directly to you, within 48 hours.
5 Customer Collections
We will continually monitor the customer payment process for all submitted invoices. The debtor payments for all submitted invoices will be collected directly from the invoiced customers.
6 Transaction Closure
Once payment is received, the agreed Discounting Fee will be deducted, and the remaining balance will be paid over to you. This concludes the transaction, and your revolving credit facility will increase proportionally.
DO YOU HAVE ANY QUESTIONS?
Invoice discounting is a universal credit option that is well understood and accepted by
most customers. Our staff will professionally explain our involvement, avoiding the assumption of financial trouble.
A variable Discounting Fee applies, based on your specific financial needs and business performance. Fees are agreed up front and are transparently applied on a per-day basis, depending on the number of days that the invoice is discounted for.
No, our team keeps you informed and maintains constant contact. Our online
portal provides you with access to your status and repayments at any given time.