Generally most debts in your business will be able to be funded against although some exceptions do exist.
Unincorporated customers will tend to be backed although individuals (‘Joe public’) are unlikely to be funded against. The concentration of the debtor book may also be restricted in that any one customer cannot form more than a certain percentage of overall debtors before restrictions on monies advanced come into force.
The age of debtors is also scrutinised and no debt over 90 days old is likely to add to the availability of draw down.
What percentage of my debtors will be advanced?
On average an advance of between 80% and 85% tends to be the industry norm although amounts as high as 90% can be achieved in the right circumstances. The remaining balance (less fees) will be advanced upon collection of the debt.