How does Choccs work?
You supply goods and services to your customers.
We setup your account and charge a small set up fee.
You send your customer the invoice made payable to Hitachi Capital Invoice Finance, and send a copy to us.
We will give you up to 85% of the invoice amount.
At this stage a service fee is deducted from your account as a percentage of your turnover.
You continue to collect and chase the payments from your customers.
Your customer settles the invoice in full, making payment direct to us.
When the remaining balance is paid, a finance fee us deducted from your account, charged as a % of the total amount lent.
The invoice clears and we give you the remaining balance.
How much will it cost?
The fees charged are based on the amount you borrow and on your annual turnover.
Typically, there are 3 main charges for using this facility:
- An administration charge to set up your account
- A service fee for handling your credit control, charged as a percentage of your outstanding invoices
- A finance fee charged as a percentage of the amount of money lent to you
If you would like to discuss how much Choccs would cost your business, based on your turnover and requirements, or any of Hitachi Capital’s invoice finance solutions please Freephone
0800 1105 005.
