Congratulations! You’ve Been Preapproved for a Supplier Finance Advance

These terms are meant to be read in conjunction with the Supplier Finance Advance Headline Terms emailed to you – the Headline Terms are subject to satisfactory due diligence checks, and the conclusion of any Conditions Precedent (as outlined in the Headline Terms). WHEN THESE ARE IN PLACE, WE CAN SIGN THE FUNDING AGREEMENTS, AND FUND AS SOON AS WE RECEIVE YOUR FIRST INSTALMENT!

How Your Supplier Finance Advance Works – An Illustrated Example

The Funding takes the form of a SUPPLIER FINANCE ADVANCE OF £100,000*, WITH REPAYMENTS OVER 12* WEEKS, MADE TO THE SUPPLIER at signing of our final Agreement and on receipt of the first instalment which you pay directly to us – upon receipt, we will transfer to the suppliers bank account the full invoice amount, referencing the invoice being funded, once we have verified bank details with your supplier.

HOW REPAYMENT WORKS – ILLUSTRATED EXAMPLE

We won’t charge you interest on your Supplier Finance Advance, rather, we take a Fixed Weekly Payment every week.

Weekly Repayment

Before the Supplier Advance is paid to the Supplier, the Customer must make their first payment to us of £9,458.33*. Once this payment has been received, our team will immediately contact the Supplier and advance the full £100,000* directly to them. Thereafter a fixed weekly amount of £9,458.33* will be taken by direct bank transfer, each week until the Supplier Advance and our Fees are repaid in full.

*These Figures are for Illustrative Purposes Only – The Exact Terms are as Specified In Your Supplier Finance Advance Headline Terms

What happens in case of missed payments?

If you fail to comply in full with the terms of repayment, it will constitute an Event of Default under our agreement and Default Interest in respect of any Unpaid Amount as well as Additional Fees as set out in the final Agreement.  

Accepting Our Offer

To finalise Your Supplier Finance Advance, there are a few items as set our here and within your Supplier Finance Advance Headline Terms that you will need to carefully review and confirm that you agree to, which you will do by signing the Pre-Approval offer and returning it to us as soon as possible.

Data Consent

By providing us with your personal information you consent to Funding Alternative Ltd using and retaining your personal information as is required and according to our General Data Protection Regulation (GDPR) Policy (https://fundingalternative.co.uk/privacy-policy/). You hereby give permission for us to process your personal data in a manner which is consistent with, and reasonably required for the effective performance of any potential agreement between us. Please note that you can withdraw your consent at any time by writing to the Information Officer at privacy@fundingalternative.co.uk.

Credit Searches and Identity Checks

By signing the Pre-Approval offer, You consent that, and authorise Funding Alternative Group Ltd to, from time to time and from the date of signature below until the termination of our agreement:

• contact, request and obtain information from any credit or service provider (or potential credit or service provider) or registered credit bureau relevant to an assessment of your and any of your Directors behaviour, profile, payment patterns, indebtedness, whereabouts, and creditworthiness; and
• furnish information concerning your and any of your Directors behaviour, profile, payment patterns, indebtedness, whereabouts, and creditworthiness to any registered credit bureau or to any credit or service provider (or potential credit or service provider) seeking a trade reference regarding Your dealings with us.

You consent Funding Alternative will undertake a search with Credit Bureaus for the purposes of verifying the identity of the relevant individuals. To do so a Credit Bureau may check the details supplied against any particulars on any database (public or otherwise) to which they have access. They may also use my details in the future to assist other companies for verification purposes. A record of the search will be retained. The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found in our privacy policy.

Due Diligence, Exclusivity and Non-Disclosure

Upon signing of this Pre-Approval letter, you undertake to apply your best endeavour to provide us with the necessary and requested information to complete Our due diligence in a timely manner. You shall not solicit, initiate or continue any discussions and exchange of information about your business with other potential lenders or third-party capital providers. You shall grant Us exclusivity and allow us to carry out our due diligence to finalise the terms of a potential loan from Funding Alternative Ltd until such a time when both parties agree to either proceed with the proposed loan or not pursue any further discussions. You undertake to keep the existence and content of our discussion and the terms of this Pre-Approval Offer confidential and not to use any information provided by us for any purpose other than deciding if any subsequent offer from us is acceptable and adequate for you. Nothing shall prevent you from making any disclosure of relevant information required by law or by any competent authority. You shall, upon request by us, destroy or return any information provided by us pertaining to our Pre-Approval Offer.