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Keeping your business moving

Quick, simple and easy access to funds

Clear Funding unlocks money from your invoices

Available whenever you want it, wherever you are

FREE FOR 3 MONTHS!

How it works


Clear Funding helps you unlock money from your outstanding invoices, giving you quick and easy access to funds. We don’t charge any set-up fees or enter into long-term contracts. The service is available on demand whenever you want it.

step one


Register

Getting set up is easy and free. Just register now and we will then activate your account.

step two


Send us your invoices

After registration, you simply decide which invoices you want funded. You can select one or more at a time.

step three


Receive funds quickly

In a few hours the money is transferred to your business bank account.

step four


We collect funds from you

We make it easy by collecting on the due date.
Or, you can pay us back early at any time.

How much does it cost?


Simple, safe and a low-cost, easy-to-understand fee structure. Try our interactive calculator.

Typically for an invoice of £1,000 you could get £983 and for a £50,000 invoice could be £49,588; no hidden fees, simple and easy!

First 3 months completely free of charge, once you have activated your account.

What is your typical invoice size?

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£25000

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You'll receive £9,500

The charge would be £500

No setup costs, monthly fees, or hidden charges.

Your details

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Invoice size

£10,000
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Usual terms

60
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This is an indicative calculation for illustration purposes only. It is not an offer. Eligibility and pricing is subject to credit checks and financial crime prevention measures. Terms and conditions apply.

To be eligible for Clear Funding you must be a UK Limited Company trading for a minimum of two years.

About us


Partners


Clear Funding is a bright new operation with a refreshing, transparent approach. But even though we’re young and fresh, we’re built on solid foundations.

Our team of industry professionals have the necessary experience and understanding to support you, and help your company to unlock working capital and grow your business.

We’re also associated with several highly respected commercial and professional bodies. So when you deal with us, you know you’re working with a reliable team that offers excellent credentials.

Latest articles


The world of business and finance moves and changes fast. To keep you updated and to help you make better informed decisions, here’s a selection of relevant news, articles and analyses. We add to this library all the time, so please check it regularly.

23rd November 2016

What is CCDS, and what does it mean for the alternative finance sector?

New small business credit data sharing scheme a game-changer for alternative finance? (source: http://www.altfi.com/)

The potentially ground-breaking Commercial Credit Data Sharing (CCDS) scheme seems to have slipped by somewhat unnoticed this year. Officially launched 1 April 2016, the scheme will require nine major banks to share the credit information that they hold on their SME customers (with the permission of those customers) equally with all finance providers, including challenger banks and alternative lenders.

The mandated banks are: RBS, Lloyds, HSBC, Barclays, Santander, Clydesdale and Yorkshire Banks, Bank of Ireland, Danske Bank and First Trust Bank (Northern Irish subsidiary of Allied Irish Bank). Data will be funneled into the three designated credit reference agencies: Experian, Equifax and Creditsafe. These firms will then see that the data is shared reciprocally among all finance providers.

While officially launched earlier this year, the scheme is not expected to be fully implemented until January 2017. In an interview with AltFi, Equifax’s Nic Beishon said that the implementation of the scheme has taken a significant amount of work for the banks and CRAs to implement. “There’s a lot of work that needs to be done to ensure the data supplied is recorded correctly,” he said.

The new CCDS rules are designed to increase competition in the small business lending space. The government’s hope is that flooding the market with a greater volume of credit data will empower non-bank lenders to reach yet more underserved segments of the small business spectrum.

“Small businesses are the backbone of Britain’s economy and it is right we make every possible source of finance available to them,” said Harriet Baldwin, economic secretary to the Treasury. “The best way to deliver this is to increase competition in the banking sector and remove the barriers to new sources of finance for SMEs. Requiring banks to share data is a major structural reform that will level the playing field between banks and alternative finance providers.”

Once live, CCDS will run alongside the long established voluntary sharing scheme which is administered by SCOR, the standing committee on reciprocity.

In addition to opening up access to a greater volume of data, Beishon explained that CCDS will bring the added benefit of “a standard format in which to share data”.

The scheme is the result of a consultation on increasing access to credit data for small to medium sized enterprises, which concluded December 2014. A report on the outcome of the consultation, entitled “Competition in banking: improving access to SME credit data”, included the following excerpt:

“When assessing the creditworthiness of small businesses with a view to making a loan an important source of information for the lender is a business’ past financial performance. This information is, however, often held by the bank that provides the business’ current account and is not widely shared. Challenger banks and alternative finance providers therefore do not have access to the same level of information as the bank with which the small business already has a relationship.”

Expanding on the kind of data that will be shared under the scheme, Equifax’s Beishon said: “Nine banking groups will provide information on their loan, corporate credit card and current account portfolios, including those of their subsidiaries.” He believes that the information that will filter through to alternative lenders via the scheme will cover in excess of 85 per cent of the small businesses in the UK.

But what will this mean for alternative lenders? Beishon believes that an increased supply of data is likely to bring about more innovation, and to “open up different ways of financing businesses”. He believes it will be a “major benefit” to the UK economy.

Mark Williams, head of business credit and risk at RateSetter, welcomed the new scheme. “SME finance is an area where there has historically been a clear need for more availability of credit data, and if it proves successful, then Commercial Credit Data Sharing (CCDS) will help us make better underwriting decisions and lend to more businesses,” he said. “It’s particularly useful for non-bank lenders such as RateSetter, as it levels the playing field and provides SMEs with a credible alternative source of funding.”

“This has been a long time coming and there’s still more to do, but we’re already working towards reciprocally sharing information with Credit Reference Agencies, and the addition of new fields – such as business bank account and HMRC VAT data – will be helpful for us and will of course benefit creditworthy SMEs.”

RateSetter, which started out as a consumer lending platform, has been expanding its offering in recent times, now lending to a wide range of borrowers, including consumers, small businesses, property developers and other lending businesses. The platform has lent a little over £1.5 billion to date, according to the Liberum AltFi Volume Index UK.

The CCDS scheme is just one among a number of government-backed initiatives designed to support the nation's small businesses. Others include the British Business Bank and the mandatory bank referral scheme, which involves the referral of rejected loan applicants from the banks on to alternative finance providers. The referral scheme officially went live on November 1st.

Source: http://www.altfi.com/article/2392_what_is_ccds_and_what_does_it_mean_for_the_alternative_finance_sector

18th July 2016

‘Landmark’ small business finance guide published

Some 23 of the UK’s most eminent finance organisations have joined together to issue a landmark new guide focusing on SME finance.

‘The Business Finance Guide – a journey from start-up to growth’ has been produced by, among others, the ICAEW, British Business Bank, FSB and UK Export Finance. It outliens the current situation facing SMEs seeking growth finance as well as laying out the range of options open to them across a range of providers. In terms of beginning the process of raising finance, the report offers 5 key tips for those looking to raise finance, handily grouped under the acronym START: Step out from your business Entrepreneurs want to focus on doing business. For many, finance falls under the category of administration, which may not be their forte. But to make sure the business can move forward entrepreneurs must step out from the business and ask the questions that need answering. Take a fresh look at prospects and challenges Plans may have been made when the business was little more than an idea. Things change and circumstances move on. You need to make a fresh assessment of where the business is, what the opportunities are, how achievable they are and what new challenges there are to the business. Analyse your opportunities You need to make a detailed analysis of the prospects for the business in light of any changed circumstances. A review of the new upsides and the new downsides needs to be carried out and the impact of them assessed, together with the probability of different scenarios. Reach for the future On the basis of the above analysis, prepare a detailed forecast, looking at the forecast profit and loss (P+L) account and balance sheet and then, crucially, at the cash flow, which will highlight how much capital needs to be put into the business to finance your latest plans. Think about finance You then need to think about the financing options for the business, how appropriate and how attainable they may be. To secure debt financing and/or investment, you need to make your business proposition clear and understandable to your target audience – with a business plan. At this stage a business is likely to require outside advice and experienced resource to ensure that it is ‘investment ready’ for potential investors, giving it the best possible chance to secure funding. Be open-minded. The funding landscape has developed considerably over recent years and there are a lot of options available – some are new and some have been around for some time. Commenting on the release of the report, ICAEW president Michael Izza said, “Businesses need certainty and that also applies to when they are raising finance. We want businesses to come out of the dark and have their most powerful tool to grow – information and advice. “With businesses expected to grow investment by 2.3% in the next 12 months, getting the right advice is crucial especially as the landscape and sources of finances has changed so significantly. The guide, which has already reached over 750,000 entrepreneurs, enables businesses and their advisers to find out more about the options available to them to meet their specific needs.”

24th November 2016

Small business minister: late payments are an outrage

Margot James, speaking at an event at the Conservative party conference, takes on big corporations that ‘blight’ smaller companies by not paying on time (source: The Guardian)

Ensuring big companies “play by the rules” and treat smaller businesses fairly is vital in meeting a new “public appetite” for more fairness and justice in business, Margot James has said.

Speaking at a fringe event at the Conservative Party Conference on Tuesday, the small business minister said late payments by big corporations to micro-businesses and the self-employed are an “outrage” and a “blight on small companies”.

The minister was speaking at The Economics Interview, organised by the Federation of Small Businesses (FSB) with liberal conservatism thinktank Bright Blue, where she championed small businesses and consumers.

Her comments on late payments came as FSB policy director Martin McTague told the event that big business is indulging in “corporate bullying” by not paying suppliers on time - an accusation he levelled at a similar event at the Labour conference last week.

McTague accused large firms of treating their supply chain with “complete disdain” and said not paying suppliers in order to “shore up their balance sheets” was “unforgivable”.

Asked about the issue of late payments, James - whose remit also covers corporate governance - admitted: “That is a real blight on small companies and it’s an outrage. Big businesses have been using them as a bank and it’s quite wrong.”

She said the government could help and hoped the issue would be addressed through the strengthening of the voluntary Prompt Payment Code (PPC) which will encourage large businesses to report on payment practices and a commitment to pay within 30 days of invoicing. (Source: THE GUARDIAN)

November 11, 2016
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Talk to us about how your businesses can gain access to funds. Invoice Finance can be an easy and quick solution to improve your cash flow

November 4, 2016
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And let us know if you would like to get your invoices paid early. https://t.co/aRuNwAzkSo

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Clear Funding is a trading name of Clear Funding Ltd (registration number 09474073) and Clear Funding Financial Services Ltd (registration number 09998904), which are incorporated in England & Wales with their registered offices at Level 2, 91 Wimpole Street, Marylebone, London, England W1G 0EF

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