CHOCCS

Customer Handles Own Credit Control (CHOCC)

CHOCC? Don't worry if you've never come across this acronym before, it simply means the you as customer handles your own credit control. Similar to invoice factoring, it’s a disclosed facility, however instead of us handing your credit control you handle it yourself. This means you can maintain and develop the strong relationships that you've already built with your customers.

The facility allows you to receive up to 85% of the invoice value within 24 hours of the invoice being raised instead of having to wait the typical 30-90 days for your customers to pay, thereby freeing up your cash flow.

With CHOCCS your business will benefit from a release of cash and as your business grows, so does the available funding. You don’t even need to negotiate new terms as our flexible funding line increases with your turnover.

How a CHOCC facility works

  1. You supply goods and services to your customers.
  2. You send your customer the invoice made payable to Hitachi Capital Invoice Finance, and send a copy to us.
  3. 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.
  4. The customer settles the invoice in full by making payment direct to us. When the remaining balance is paid, a small finance fee is deducted from your account, charged as a percenatge of the amount lent.
  5. The invoice clears and we give you the remaining balance.

Throughout this whole process you will have a dedicated client manager who will keep you up to date with customer payments.

Benefits of CHOCC Invoice Finance

Improve your cash flow- release funds from raised invoices within 24 hours, allowing you to be more competitive in the long run.
Flexibility- with your funding line increasing at the same rate as your turnover meaning you don’t need to renegotiate new terms.
Bargaining power- invoice financing can help you negotiate better terms with your suppliers as you can guarantee that they will be paid on time.
Growth- grow your business at a much faster rate using this flexible funding line.
Customer service- Benefit from our award winning service.

Want extra peace of mind?

Why not add credit protection to your facility? This ensures you’re protected if any of are customers are unable to pay.

Next steps

Speak to one of our UK advisors today on 0808 274 5092 to see how CHOCCS could help improve your business cashflow.

Switching

Already have a CHOCC facility with an alternative provider? We can handle the whole process of switching for you, ensuring that your cashflow facility isn't affected at all. Download our switchers guide for more information.

Get in touch

One of our experts will shortly be in touch to discuss a cash flow solution for your business

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How much cash could you release?

You could release up to
£21,250

Get a quote

Invoice Finance solutions from Hitachi Capital

For an informal discussion in regards to your cash flow needs please contact us on

0808 256 6442