What an advance from Solvo costs, in pounds. No jargon, and nothing important below the fold.
How we price
We do not charge interest. We agree one fixed total before you sign, using a factor rate — the total you repay is the advance multiplied by that figure, and it does not move afterwards. Your rate depends on how long you have traded, your turnover, how your business account behaves, and which term you choose.
A £50,000 advance, both terms
| £50,000 advance | 20 weeks | 26 weeks |
|---|---|---|
| Approved advance | £50,000 | £50,000 |
| Arrangement fee (5%, deducted at funding) | −£2,500 | −£2,500 |
| Paid to your account | £47,500 | £47,500 |
| Factor rate | 1.48 | 1.55 |
| Total repayable | £74,000 | £77,500 |
| Weekly payment | £3,700 | £2,981 |
| Total cost on the cash you receive | £26,500 | £30,000 |
Illustrative. Your own rate is set by underwriting and is stated in pounds on your agreement before you sign it.
The trade, in one line. The shorter term costs £3,500 less in total. The longer term costs £719 less every week. That is the whole decision, and it is yours to make — we will price both and show you the two side by side on your own numbers.
What this is, and what it is not
This is short-term working capital and it is priced accordingly. On the example above the cost is roughly 56% of the cash you receive, over about four and a half months. It is not comparable to a bank term loan and we are not going to pretend otherwise. It exists because it is fast, because it is not secured against your assets, and because the decision is ours to make rather than a committee's.
If a term loan is the better answer for your company, we will tell you — and we will arrange it with one of our lending partners rather than sell you an advance you do not need.
Things that do not cost extra
- No fee to apply, and no fee to receive an offer.
- No monthly service, admin or account charges.
- No penalty for settling early.
The one thing to read twice. The total is fixed from day one. Settling early does not reduce it — and if you take a top-up part-way through, the whole remaining balance of the first advance is settled out of the new one, including the part of the cost you have not yet paid. That is set out in full, with the arithmetic, on our top-ups page. Read it before you take one.
Where we are not the lender
For facilities above £75,000, and for unsecured term loans, we introduce you to one of our lending partners instead. In that case you pay us nothing: the lender pays our commission, typically 2%–6% of the amount advanced and higher on some specialist facilities. We tell you the amount in pounds, the percentage, and the figure the percentage is calculated on, before you accept anything.
See what your own numbers look like
Three minutes, no documents, no obligation. Ltd and LLP companies only.
No cost to check your options. Where we lend, a 5% arrangement fee is deducted at funding. UK Ltd & LLP companies only.