Bad Debt Protection is an additional product that can be added on to an invoice finance facility.
It protects you in the event of your customer ceasing to trade. The cost of the product is included within the invoice finance agreement, usually making it cheaper than a standalone credit insurance facility.
Having Bad Debt Protection can give you peace of mind to know that the business will not take a hit in the event of a customer ceasing to trade. This means you can focus on growing the business without worrying about customer failure.
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How it Works
Bad Debt Protection is a product most invoice finance providers offer on the back of their facilities. In most cases, the business owner would have the choice to pick which customers they would like to protect through the facility. In some cases, the lender would insist that all customers would be protected.
The product will typically cover up to 90% of the balance of the bad debts for you. If you have worries about payment from certain customers, or you bring new customers on, you can get the protection against them.
To see your Bad Debt Protection options, use our FREE quote form.