Invoice discounting How do I qualify? Bear in mind that the overall MOF limit cannot exceed the limit set out in the offer documents. Although there is what is multi option term on the facility, a transaction fee will be charged when changing the overall limit or closing down the multi-option facility.
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What are the benefits? The main benefit is avoiding a lot of the backwards and forwards that happens when dealing with your bank when you want to extend or reduce the limits on separate loan facilities for your business.
Multi-option facility case study John is an importer of heavy equipment for farming and agriculture. Once John receives the parts, his business spend around 10 days assembling the parts in their workshop. In total, John is is looking at over 3 months to be paid for the equipment he imports.
To keep capital flowing in the business, John could use trade finance to fund some of his imports and then an overdraft facility to pay out the trade facility. The debt would then be carried in the overdraft facility until payments are received from his customers, after which the debt in the overdraft will be cleared.
John finds that he needs to extend the payment term for one of his larger clients. Instead of having to approach the bank to increase his overdraft limit, a multi-option facility allows John to simply shift across the limit from his trade facility to his overdraft.
Do you need a multi-option facility? Discover if a multi-option facility is right for you! Call us on or complete our free assessment form to speak with one of our business loan specialists.
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