This is paid to you when your Customer pays (less any fees or accrued interest).
How long do I need to sign up to invoice finance for?
Usually the minimum term is three months. For a single invoice facility, your lender may keep your facility open for up to six months from the last time you submitted an invoice for funding. This varies between lenders so check your facility agreement to check for the minimum period before signing it.
What happens if a factored debtor does not pay?
Unless otherwise agreed, your funder will most likely fund invoices for 30 days past their due date, in some cases longer. If an invoices is not paid within this period its status changes from approved to unapproved.
If this leaves a shortfall in your available funds it will be deducted from your next payment.