iB Survey AIB Invoice Financing
for businesses in an export market is crucial to supporting their growth. We want to support businesses in both export and domestic markets.
AIB’s Invoice Finance platform can accommodate invoices raised in currencies such as Sterling and US Dollars alongside Euro trade debts.
Q: Who is responsible for credit control when accessing this form of finance?
DM: Credit control stays with the customer. It’s a completely confidential facility. From a business perspective there is no interruption to our customer. They deal with their own customers in the same way they always have. However, feedback from our customers suggests they become even more aware of the importance of credit control after taking the product on board.
Q: What are the costs associated with Invoice Finance?
DA: It’s very competitive pricewise. It’s cheaper than an overdraft typically. It’s also different to the traditional overdraft where a business has a limit which can be quite rigid. Invoice Finance directly mirrors growth and provides the funding to businesses to finance this growth.
DA: Because so many people have been stung by borrowing too much there is a little bit of a fear of borrowing and there is a lot of media hype around credit not being available but AIB are very definitely open for business.
Q: What finance package
Q: What service package
do AIB offer customers?
do AIB offer?
DM: We can provide our
DA: We pride ourselves
Invoice Finance product alongside a wider debt package or singularly if the customer only has a working capital requirement. We’re part of the AIB group and work closely with relationship managers to provide a package that’s tailored to specific business’ needs.
on our service and regularly seek feedback from our clients to ensure what we offer is the best in market. We take the time to fully understand each business and structure our facility to suit. Building a mutually beneficial relationship with clients is key to achieving this.
InBusiness | Q2 2014
Deirdre Moore, Head of AIB Commercial Finance Ltd.
To find out if your business could benefit from Invoice Finance: Contact Deirdre Moore Email: deirdre.a.moore@ aib.ie Tel: 01 641 4017 Contact David Avery Email: david.g.avery@aib. ie Tel: 01 641 4807 Or visit www.aib.ie/ invoice-finance
How Invoice Finance Works 1. I nvoice customers as usual. 2. N otify AIB via online portal. 3. A IB immediately provide up to 85 per cent of invoice value. 4. D ebtor pays 100 per cent of invoice on due date. 5. A IB releases the remaining value of invoice.
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