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AIB Commercial Finance Limited
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Invoice FinanceSupporting business. Supporting growth
AIB Commercial Finance Limited
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Contact Us
+ 353 (0)1 772 4488
www.aib.ie/invoice-finance
We can help your business overcome cash flow pressure by giving you immediate access of up to 80% of trade debtors.
Managing working capital is always a significant business challenge. The Invoice collection cycle can put pressure on cash flows and can ultimately impact on your business’ ability to grow.
For the last twenty years AIB Commercial Finance Limited’s (AIBCF) Invoice Finance has provided our customers with a convenient and cost effective cash flow solution, providing access to finance when it is needed most. Invoice Finance can help maximise the cash flow embedded in your business.
Invoice Finance is a totally confidential facility, giving you the freedom and financial flexibility to manage and grow your business. As an AIBCF customer, simply notify us via our online system when you raise new invoices and we will release funds promptly to you.
Our team of Invoice Finance specialists are passionate about supporting our customers. We will work in partnership with you to help you realise your business’ potential.
We are committed to supporting your business, and supporting your growth.
InvoICe FInAnCe
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Flexible finance which can grow in line with growth in sales
Converts your trade debts into cash
Enables expansion of your business
Can typically release more funds than other sources of finance
A confidential form of financing, while you retain full credit control
Provides potential access to cash and bulk discounts from suppliers
Allows you to promptly pay suppliers thus improving your company’s payment reputation
Allows you to extend longer credit terms to your customers, making you more competitive
Simple, easy to use online system
Funds can be made available on same day
“We can provide a source of finance which is directly related to the performance of your business. It grows in line with your business growth”.
– Deirdre Moore, Head of AIB Commercial Finance Limited
While Invoice Finance is primarily a working capital facility, it may also be used to fund transactions such as mergers, acquisitions, management buy-outs, management buy-ins and capital expenditure programmes.
Why Invoice Finance?Invoice Finance is designed to help smooth your cashflow
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** Disapproved debts can include aged debts beyond a specified time limit, inter company debts, disputed debts, contra balances where you are selling to your suppliers and cash sales.
You
You
AIBCF
Your debtor
Your debtor
AIBCF
You
AIBCF
Invoice________________________________
Up to 80% of invoice value
100% of invoice value
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Day 1Payment usually released providing notice received before 11am Monday to Friday
Up to day 90Your debtors usual invoice payment date
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How Invoice Finance works:STEP 1: Invoice your customers as usual:
STEP 2: Electronically notify AIBCF of the invoices raised
STEP 3: AIBCF provide up to 80% of the value of your invoices
STEP 4: Your debtor pays 100% of the invoices on the due date*
STEP 5: AIBCF pays you the remaining value of the invoices net of charges
easy to operate: Invoice as normal Simply invoice your customers for goods sold or services provided as usual.
Notify sales raised Advise AIBCF of the level of invoices raised in any given day, week, month, or as often as you like, via a secure, easy to use, internet site.
Request funds You can then request advance payments against these invoices, up to an agreed percentage of your sales invoices (called a “prepayment rate”), via our internet site.
Retain control You chose when and how much you drawdown, controlling the availability and cost of your facility. You also retain full control of your debtor collections process.
Debtors repay facility Your debtors settle payment of their invoices into an AIBCF Trust Bank account in your name, ensuring the confidentiality of the process. AIBCF will repay these funds to you less any advance prepayment you may have taken.
AIBCF YouRemaining invoice value minus charges
€
* Your debtor pays into a confidential AIBCF Trust Bank account in your name.
Customer example
Total Debtors: €1,000,000
• DisapprovedDebts**:€100,000
• PrepaymentRate:upto80%ofApprovedDebts
Therefore, the level of cash funding that may be made available through Invoice Finance will be:
€000s
TotalDebtors 1,000
Less:DisapprovedDebts** (100)
ApprovedDebts 900
Available funds @ 80% ofApprovedDebts 720
onLIne CLIenT MAnAger SySTeM
our online client manager system is available when you are, wherever you are, allowing you to stay in complete control of your business’ cashflow.
Using a real time system you can make cash available to your business as soon as you raise invoices to your clients. Simply log in and advise us of the level of invoices raised in any given day, week, month or as often as you like. As soon as you assign invoices, funding is available to your business.
You can also use the online system to request cash advances, and all requests received before 11am, Monday to Friday, will be processed with funds in your bank account for the same day.
You can relax safe in the knowledge that no matter where you are in the world, you can log on to our easy to navigate, secure online system to keep cash flowing to your business.
Use Client Manger to:
Notify AIBCF of invoices or credit notes raised
Request cash advances
See up to date sales ledger information
Obtain reports
“The client manager system is perfect – 10 out of 10!”
– Customer feedback from AIBCF Customer Survey of Client Manager, 2012
Is Invoice Finance suitable for you? Doyousellbusinesstobusiness?
Doyouselloncredit?
Doyousellfullydeliveredproductsorservices?
Doyouhaveanannualturnoverinexcessof€750,000?
Doyouhaveanongoingtradedebtorsledgerofminimum€250,000?
If the answer is yes to the above please contact the Invoice Finance team(Seepage7&8fordetails)
How much does Invoice Finance cost?There are two elements to our fee structure:
A Discount Charge (similar to an interest rate) is levied only on funds used by you and charged monthly. This rate is generally expressed as a percentage margin over the cost of funds* for Euro funding or an alternative base rate for other currency funding
A Service Fee (related to the ongoing management of the facility) is charged monthly to your account
*Note: the cost of funds is open to change and may fluctuate
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oUr ApproACH
We have been supporting our customers for 20 years, offering expertise and superior customer service in the provision of Invoice Finance. We will work closely with you at every stage of our relationship, from the initial meeting with your AIBCF business development manager, through to your ongoing interaction with your client relationship team of specialists.
We support a wide range of business from small owner-managed firms to large domestic and multinational corporates, including but not limited to the following sectors:
Wholesale&Distribution Recruitment Agencies
Transport Security Services
Food&DrinksIndustries Cleaning Services
Manufacturing Other Service Industries
Whatever your industry, we know every business is different, and every customer has their own individual business needs, we will work with you to ensure Invoice Finance meets your specific business requirements.
“The biggest accolade that I can offer is that after twenty years of association with AIB Commercial Finance Limited, the quality of the service and customer care provided is still of the highest calibre despite the volatile economic trading conditions”
– David Murphy, Chief Financial officer, Barry & Fitzwilliam
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MeeT yoUr InvoICe FInAnCe TeAM
our team of relationship managers will work in partnership with you by providing a world class relationship service to support your business needs.
We are passionate about helping Irish and multinational businesses succeed and are committed to helping you realise your business’ potential.
We will apply our expertise, knowledge and experience to help your business get the maximum benefits from Invoice Finance.
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yoUr InvoICe FInAnCe TeAM
David Avery – Head of Business Development, AIB Commercial Finance Limited
DavidjoinedAIBfromLloydswherehehelpedestablishtheirCommercialFinanceIrelanddivision. Davidhas17yearsInvoiceFinanceexperienceworkinginitiallyforLloydsUKCommercialFinanceandBankofScotlandintheUK.DavidistheHeadofBusinessDevelopmentandmanagesaninnovativeteam providing bespoke Invoice Funding solutions.
Please contact David: email [email protected] | Tel+353(0)16414807 | Mobile+353(0)867782546
richard Whitehouse – Head of Client Relations, AIB Commercial Finance Limited
RichardjoinedAIBfromamarketleadingbankintheUK.Richardhas15yearsexperienceinInvoiceFinanceandAssetBasedLendingencompassingrolesinBusinessDevelopment,Credit,OperationsandRelationshipManagement.HehasseniormanagementexperienceinboththeUKandGermanyandgraduatedin2010withanMBAfromtheUniversityofBirmingham.RichardistheHeadoftheClientRelations Team managing the customer relationship experience.
Please contact Richard: email [email protected] | Tel+353(0)17721984 | Mobile+353(0)867803959
Cliff glover – Head of Operations, AIB Commercial Finance Limited
CliffhasworkedinFinancialServicesfor15yearsstartingoffhiscareerinanaccountancypracticeinDublin.AftergainingvaluableexperiencethereCliffmovedtoMarshasamanagerwithresponsibilityfor a portfolio of subsidiaries of large multinational companies. Before taking up his current position he worked for 10 years with IBRC where he headed up their Commercial Finance division gaining considerable experience in servicing SMEs and larger corporate entities.
Please contact Cliff: [email protected] | Tel+353(0)16414821 | Mobile+353(0)868129637
Deirdre Moore – Head of AIB Commercial Finance Limited
DeirdreMooreistheHeadofAIBCommercialFinanceLimited.Deirdrehas26yearsextensivebankingexperiencewithAIBGroup,workinginanumberofdifferent roles in Capital Markets/Corporate Banking. In Corporate Banking Ireland,Deirdrehasworkedasaseniorrelationshipmanageracrossanumberof sectors, including retail, hotels and leisure, insurance/financial services and internationalCorporateBanking.DeirdretookontheroleofHeadofCommercialFinanceLimitedinJuly2011.DeirdreisagraduateofUniversityCollegeDublin.
Please contact Deirdre: email [email protected] | Tel+353(0)16414017 Mobile +353(0)868116949
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Helen o’Callaghan Senior Business Development Manager Location Dublinemail helen.m.o’[email protected] Mobile +353(0)868542229Tel +353(0)17724193
Maeve CotterBusiness Development ManagerLocation Corkemail [email protected] Mobile +353(0)867846962Tel +353(0)214948628
Colm DevineBusiness Development ManagerLocation Dublin email [email protected] +353(0)860225086Tel +353(0)16414810
Mary ryanBusiness Development ManagerLocation Dublinemail [email protected] +353(0)867967529Tel +353(0)17724187
Deirdre MorrisseyBusiness Development ManagerLocation Kilkennyemail [email protected] +353(0)862805103Tel +353(0)17724189
Meet the Business Development Team
Brendan CrowleySenior Relationship Manageremail [email protected] +353(0)866079459Tel +353(0)16413039
Susan MerriganRelationship Manageremail [email protected] +353(0)861718679Tel +353(0)16412928
Anita KellyRelationship Manageremail [email protected] +353(0)867764986Tel +353(0)16412928
Meet the Client relations Management Team
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ConTACT yoUr InvoICe FInAnCe TeAM
Please note that the provision of this product or service does not require licensing, authorisation or registration with the Central Bank of Ireland and, as a result, it is not covered by the Central Bank’s requirements designed to protect consumers or by a statutory compensation scheme.
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Invoice Finance is provided through AIB’s wholly owned subsidiary, AIB Commercial Finance Limited (AIBCF). AIB Commercial Finance Limited is a company within the AIB Group. Allied Irish Banks, AIB and AIB Group are registered business names of Allied Irish Banks p.l.c. Registered Office: Bankcentre, Ballsbridge, Dublin 4. Tel: +353 1 660 0311; Registered in Ireland: Registered No. 24173.
AIB Commercial Finance Limited
