Invoice Finance-it partner: Swoop

Invoice Finance-it allows businesses to find funds to cover invoice payments easier and faster than before by using their own unpaid invoices as collateral.

1. What is invoice financing? 

Invoice finance is a great way to access capital where you use unpaid invoices as security against funding, very similar to a loan.

This type of finance is extremely flexible as you don’t need to make any repayments until your invoice has been paid by your client.

Invoice Finance-it is powered by Swoop and allows you to borrow up to 95% of the value of your unpaid invoices to a maximum of £5 million.

2. How does it work? 

Know-it doesn't provide financing options directly. The platform will only give you visibility on invoices which would be eligible for financing options based on the criteria from our partner Swoop. 

You do not pay extra charges Invoice Finance-it. This feature is simply here to give you visibility on the options available to you.

When you click on 'Send now', you will automatically be redirected to our partner Swoop. There you can either create an account and request a free quote or log into your existing Swoop account. 

💡 Know-it does not transfer any of your accountancy software data (invoice amount, customer name, invoice pdf) to Swoop. The platform is solely giving you visibility on options available. 

3. Financing options available through our partner

Factoring

Free up cash fast by 'selling' your invoices at a discounted rate

This means Swoop would be responsible for recovering the unpaid invoice to repay the loan.

Discounting

Borrow against unpaid invoices and retain control of your sales ledger. 

This means you are responsible for recovering your unpaid invoice to repay your loan.

If you have any questions, and can not find the answer here, please reach out to our support team by raising a ticket here.