# What is invoice finance? A plain-English explanation of invoice finance for UK company directors — what it is, how it differs from factoring, and how Credicorp's Slice product works. **Site:** [creditcorp.co.uk/learn/what-is-invoice-finance/](https://creditcorp.co.uk/learn/what-is-invoice-finance/) Creditcorp is the growing name for the Credicorp group. Credicorp Limited is the lender behind it — short-term working capital for incorporated UK businesses. No personal guarantee on any product. This page is a guide; applications go to [credicorp.co.uk](https://credicorp.co.uk/). ## Contents - What is invoice finance? - Invoice finance vs factoring - Credicorp Slice - Who invoice finance suits - How to assess whether invoice finance suits your business - Invoice finance questions - Related guides - Invoices out. Cash in now. ## Step-by-step guide **Step 1: Check whether the business is B2B with outstanding invoices** Invoice finance requires invoices issued to other businesses (not to consumers) that have not yet been paid. Check that: the company issues invoices on credit terms (30, 60 or 90 days); the customers are businesses; and the outstanding invoice book represents a genuine, recoverable asset. Personal services, retail and consumer-facing businesses without B2B invoices are outside scope. **Step 2: Identify the invoices causing the working capital gap** Which specific invoices are outstanding and creating the gap? Invoice finance works against identifiable, specific invoices — not a general working capital need. Have the invoice details ready: customer, amount, issue date, payment due date. **Step 3: Assess whether the customers are creditworthy** Invoice finance providers advance money on the basis that the invoices will be paid. The creditworthiness of the debtors (the customers who owe the money) matters as much as the creditworthiness of the company. Invoices from large, established businesses on standard credit terms are more financeable than invoices from new, untested customers on disputed terms. **Step 4: Apply at credicorp.co.uk for the Slice product** Apply at credicorp.co.uk with the company's invoice details and banking history. Credicorp uses Open Banking to read the company's banking alongside the specific invoice information. This site is the brand front door and does not take applications. ## Frequently asked questions **What is invoice finance?** Invoice finance is a way of releasing the value of outstanding invoices before the customer pays. Instead of waiting 30, 60 or 90 days for a customer to settle, the company receives a proportion of the invoice value upfront from a finance provider — typically 70-90% — and the remainder (less fees) when the customer pays. It suits businesses that invoice other businesses (B2B) and have a working capital gap caused by slow-paying customers. **What is the difference between invoice finance and factoring?** Both are types of invoice finance, but they differ in who manages the credit control. With factoring, the finance provider takes over the management of the company's debtors — chasing customers for payment on the company's behalf. With invoice discounting (or invoice finance without management), the company retains control of its debtor book and customer relationships; the finance provider simply advances money against the invoices. Credicorp's Slice product is the latter type — the company retains its customer relationships. **What is Credicorp Slice?** Slice is Credicorp's invoice-backed credit product for UK limited companies. It provides credit tied to specific outstanding invoices — the invoice value backs the facility and the credit is typically repaid when the customer pays. It sits alongside the Business Bridging Loan (lump-sum, fixed term) and the Flex revolving credit facility (draw-and-repay) as the third Credicorp product. Apply at credicorp.co.uk — this site is the brand front door and does not take applications. **Who is invoice finance suited to?** Invoice finance suits B2B companies that: issue invoices with payment terms (30, 60 or 90 days); have creditworthy customers who are slow to pay rather than unwilling to pay; have a working capital gap that directly tracks the invoice cycle. It is less suited to companies with cash-paying customers (retail, restaurants, consumer services) where there are no outstanding invoices to finance. **Does invoice finance affect the company's relationship with its customers?** With factoring (where the finance provider takes over credit control), customers may be notified that their invoices have been assigned to a third party. With invoice discounting where the company retains control — Credicorp's approach with Slice — the customer relationship is unchanged. Customers pay the company as normal; the finance arrangement is between the company and Credicorp. ## About Creditcorp / Credicorp Credicorp Limited is a UK short-term business lender. Products: Business Bridging Loan (14–84 days, 0.25%/day), Credicorp Flex (revolving credit, 0.25%/day on drawn balance), Credicorp Slice (invoice-backed, flat fee). Incorporated UK companies and LLPs only. No personal guarantee. No debenture. Same-day decisions. Total charges capped at 100% of principal. - [Apply or get a quote](https://credicorp.co.uk/) - [Products overview](https://credicorp.co.uk/products/) - [Eligibility](https://credicorp.co.uk/eligibility/) - [All learn guides](https://creditcorp.co.uk/learn/)