Chamber Invoice Finance offers a range of products and services available exclusively for Chamber members. The Chamber Invoice Finance offering covers a comprehensive spectrum of financial solutions focused on helping businesses manage their cash flow by releasing money tied up in outstanding invoices, inventory or assets.

The solutions consist of three main strands:

Invoice Factoring: With invoice factoring, a business can access up to 90% of the value of each invoice to improve cash flow. It also removes the cost and administration of running a sales ledger as all invoices and correspondence is managed direct through the RBS Invoice Finance team. The cash from such invoices is paid to the business within days of agreement.

Invoice Discounting: Invoice discounting gives a business full control over the sales ledger process. So as far as their customers are concerned, everything works just as it did before. The only difference is that the business receives up to 90% of the value of invoices once they are received by RBS Invoice Finance and those funds are usually available the next working day. The business receives the remaining 10% - minus any charges - once the customer has settled the invoice.

Asset Based Lending: Allows money tied up in equipment / property / plant to be turned into cash. It's a cost-effective alternative for any business to increase working capital without slowing growth or raising equity.

1. Who are RBS Invoice Finance?
RBS Invoice Finance is a subsidiary of the Royal Bank of Scotland / NatWest group with considerable experience in providing invoice finance solutions to businesses. RBS Invoice Finance is responsible for managing the Chamber Invoice Finance package and providing its services to members as part of the agreed offering.

2. What are the benefits to Chamber members?
As part of the Chamber Invoice Finance offer, the discount available to Chamber members is up to 15% against the standard tariff on charges.

3. Is Chamber Invoice Finance only available to Chamber members?
Chamber Invoice Finance is only available to members of Accredited Chambers of Commerce in the UK.

4. Is Chamber Invoice Finance only available for sales in the UK?
No. Any business trading in overseas markets can also include these sales to a wide range of approved territories in either GBP or in the currency of the buyer.

5. How much can a Factoring or Invoice Discounting company advance?
The amount that an invoice financier will advance a business will be entirely dependent on the total value of invoices outstanding. As a guide, Invoice Financiers will advance around 80% of approved debts but this can be as high as 95% for some businesses and sectors.

6. What does it cost?
Typically there are two elements to the charges, firstly a service charge that is determined by the work load anticipated to run the facility and whether or not “Bad debt protection” is required, secondly the cost of funds which will be similar to traditional overdraft rates and are charged only on the level of funds used.

7. Is Chamber Invoice Finance regulated by the FSA (Financial Services Authority)?
Yes, Chamber IF is a financial product / service and is therefore regulated by the FSA

Interested in finding out more? Please contact Bob Grant, Membership Manager on 0141 847 5455, bgrant@renfrewshirechamber.com