WHAT IS SUPPLY CHAIN FINANCE
Supply chain finance is the process that enables you to facilitate early payment of your supplier invoices and allows you to participate in the benefits. You are a company (THE BUYER) with a turnover in excess of £25m, profitable and with a strong credit rating. Your suppliers may often require finance but may struggle to find it because of the services they are providing and their weaker credit rating.
If your suppliers have certainty of the approval and payment date of their invoices/valuation certificates this makes them more financeable at a lower cost of finance than they could otherwise obtain.
The team has extensive experience working with buyers and their suppliers
HOW DO WE START?
- Together we agree a facility size and arrangements
- Together we introduce the service to your suppliers and Whitehall Finance onboards the suppliers
Whitehall Finance provides a Win-Win solution for you and your suppliers. Your suppliers may often require finance but may struggle to find it because of the services they are providing and their weaker credit rating. With our solution suppliers are paid immediately, meaning they can focus on quality and delivery.
HOW DOES IT WORK?
- Supplier submits invoice for approval
- Invoices approved by the Buyer and uploaded to Whitehall Finance
- Investors provide funding based on buyer strength
- Suppliers notified by app that they can get early payment and elects early payment
- At the end of the payment period buyer repays Whitehall
- Funds are repaid to investors
HOW MUCH DOES IT COST?
There is no cost to you. The finance cost to the supplier – should they choose to opt for immediate payment – will generally be less than the could achieve by invoice finance. Unlike invoice finance, we pay the full invoice value
BENEFITS FOR YOUR SUPPLIERS
- Non-Recourse – 100% Finance
- Suppliers can opt to receive early Payment as and when they want it
- Cost effective because supplier receives credit based on your credit strength
- Access for suppliers available through downloadable Apple and Android apps
- Fast Immediate Payment
- Web-based, so no implementation overhead for you
- No integration with your current finance system required
- Easy to use for both you and your supplier
How long does it take to implement?
The process takes weeks not months to implement as there are no IT overheads at all. Once we’ve established the facility we work with you to identify the suppliers and on-board them.
Do you take security over the company?
We don’t take debentures or personal guarantees, all we require is a signed promissory note with a commitment to repay at the end of the term.
How do you decide the size of the facility?
We work with you to establish the suppliers who would want to participate in the program and determine a level that works for all parties
Is there a limit on the number of suppliers that can participate?
There is no limit on the number of suppliers that can participate and no commitment required from them to opt for early payment