Our product is intended for general corporate purposes. Whether you use it to onboard new clients, extend payment terms for existing clients or buy new machinery, it is entirely up to you. We do not pose any restrictions for the use of the financing.
Apply online through our convenient 4 step process. Our team is always ready to support. After your online application is completed, we will be in touch with you personally to walk through our checklist and complete the onboarding process. Visit our process page for more information.
Whenever you upload your accounts receivables book into the Tradeplus24 platform, we will determine which ones meet the eligibility criteria, which also means they can be used as collateral for financing.
To maintain continuity in our service, we require a weekly update on the status of your accounts receivables. You can do this through an automated link with your accounting software, or manually in your personal online dashboard. This will only take you a couple of minutes of time each week.
We expect the standard process to take approximately between 1 and 2 weeks .
We offer a B2B service, which means that we are not regulated by the standard bodies that protect consumers in financial services. However, we comply with all required (inter)national data protection laws such as the GDPR, are registered with the FCA as an Annex 1 financial company and only work with highly accredited partners to ensure a safe and reliable service.
We work with an annual interest rate, charged on a monthly basis. Next to that, we charge a one-off upfront fee over the approved credit amount, as well as a facility fee that allows us to retain the funds for you throughout the year.
Loans are denominated in the United Kingdom. We accept accounts receivables in all major currencies, as long as at least 50% of your outstanding receivables comes from UK based businesses.
1) Your accounts receivables total at least £500K 2) Your business has been actively trading for >3 years 3) You are registered in the UK with a UK business bank account 4) At least 50% of your accounts receivables comes from UK businesses
We issue credit lines from £250,000 to £5,000,000. The limit of your credit facility is determined by the total amount of receivables insurable within the framework as well as a few security features built into the product.
The initial drawdown has a 90-day tenure, after this the loan is automatically rolled over every 30 days. If you want to adjust the drawdown amount, this can be done on every roll-over event.
The protection of your data is important to Tradeplus24 and we make sure that all our partners adhere to the highest standards of data protection. We will never share your data with any third parties without your explicit consent.
We set up your credit line by means of a silent assessment. This does not tell your buyers anything about any financing your company is receiving against them. Our service is discrete and reliable. As part of the onboarding process we might verify a minor sample of your invoices.