Permanently removing the risk of bad debt and providing immediate funding is valuable to all types of businesses. Giving you the confidence and renewed energy to grow.
Oriel has developed what we believe to be a unique consumer debt purchase product. It allows small business owners to actively build their client base with the firm knowledge that their income is secure.
Small businesses that are currently benefiting from this service include photographic studios, training suppliers and other high volume, low value specialist services.
Please call our Consumer Debt Purchase team to discuss your requirements on 0845 226 1816. Alternatively email our collections team.
Improved cash flow for improving futures
Thriving small businesses are important for the UK business environment, and are responsible for creating more new jobs than their larger counterparts. Improved cash flow for these businesses facilitates confident growth and stronger local communities.
Using our debt purchase facility also enables businesses to take on new customers and expand confidently. Here’s how our consumer debt purchase service works:
• Your company offers a credit agreement to your customer – with payment terms typically of between 3 and 18 months
• Oriel pays a percentage of the invoice to the business immediately (of up to 85%) on completion of the business transaction with their customer
• We undertake the collections of the monthly instalments from the consumer
• We underwrite the risk of customers defaulting on payment
Commercial debt purchase
Whether you want to sell an individual debt or an entire debt ledger, this is an effective way to release much needed cash for immediate use. We have considerable experience of valuing this type of purchase, and are able to structure the transaction in a number of different ways.
With Oriel you can get on with growing business, safe in the knowledge that the risk of bad debt is under experienced control. So you can focus on taking your business to the next level.
FAQs
What would be the typical advance level you would provide?
The advance level would depend on the term of the credit agreement, value of debt and the profile of your customers but would be typically up to 85% of the value of the agreement.
Do I need to hold any licences?
Yes you would need to obtain, or hold, a Consumer credit licence.
What if the customer defaults on their credit agreement?
Under the terms of our agreement we would be typically responsible for the collections and bad debt risk from the customer.
