Invoice Finance. Supporting business. Supporting growth. AIB Commercial Finance Limited

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1 Invoice Finance Supporting business. Supporting growth AIB Commercial Finance Limited

2 AIB Commercial Finance Limited Contact Us (0) aibcashflow@aib.ie

3 Invoice finance Managing working capital is always a significant business challenge. The Invoice collection cycle can put pressure on cash flows and can ultimately impact on your business ability to grow. For the last twenty years AIB Commercial Finance Limited s (AIBCF) Invoice Finance has provided our customers with a convenient and cost effective cash flow solution, providing access to finance when it is needed most. Invoice Finance can help maximise the cash flow embedded in your business. Invoice Finance is a totally confidential facility, giving you the freedom and financial flexibility to manage and grow your business. As an AIBCF customer, simply notify us via our online system when you raise new invoices and we will release funds promptly to you. Our team of Invoice Finance specialists are passionate about supporting our customers. We will work in partnership with you to help you realise your business potential. We are committed to supporting your business, and supporting your growth. We can help your business overcome cash flow pressure by giving you immediate access of up to 80% of trade debtors. 1

4 Why Invoice Finance? Invoice Finance is designed to help smooth your cashflow Flexible finance which can grow in line with growth in sales Converts your trade debts into cash Enables expansion of your business Can typically release more funds than other sources of finance A confidential form of financing, while you retain full credit control Provides potential access to cash and bulk discounts from suppliers Allows you to promptly pay suppliers thus improving your company s payment reputation Allows you to extend longer credit terms to your customers, making you more competitive Simple, easy to use online system Funds can be made available on same day While Invoice Finance is primarily a working capital facility, it may also be used to fund transactions such as mergers, acquisitions, management buy-outs, management buy-ins and capital expenditure programmes. We can provide a source of finance which is directly related to the performance of your business. It grows in line with your business growth. Deirdre Moore, Head of AIB Commercial Finance Limited 2

5 How Invoice Finance works: Easy to operate: STEP 1: Invoice your customers as usual: You You AIBCF Invoice Up to 80% of invoice value Your debtor STEP 2: Electronically notify AIBCF of the invoices raised AIBCF STEP 3: AIBCF provide up to 80% of the value of your invoices STEP 4: Your debtor pays 100% of the invoices on the due date* You Day 1 Payment usually released providing notice received before 11am Monday to Friday Invoice as normal Simply invoice your customers for goods sold or services provided as usual. Notify sales raised Advise AIBCF of the level of invoices raised in any given day, week, month, or as often as you like, via a secure, easy to use, internet site. Request funds You can then request advance payments against these invoices, up to an agreed percentage of your sales invoices (called a prepayment rate ), via our internet site. Retain control You chose when and how much you drawdown, controlling the availability and cost of your facility. You also retain full control of your debtor collections process. Debtors repay facility Your debtors settle payment of their invoices into an AIBCF Trust Bank account in your name, ensuring the confidentiality of the process. AIBCF will repay these funds to you less any advance prepayment you may have taken. Your debtor 100% of invoice value AIBCF STEP 5: AIBCF pays you the remaining value of the invoices net of charges AIBCF Remaining invoice value minus charges You Up to day 90 Your debtors usual invoice payment date * Your debtor pays into a confidential AIBCF Trust Bank account in your name. Customer example Total Debtors: 1,000,000 Disapproved Debts**: 100,000 Prepayment Rate: up to 80% of Approved Debts Therefore, the level of cash funding that may be made available through Invoice Finance will be: 000s Total Debtors 1,000 Less: Disapproved Debts ** (100) Approved Debts 900 Available 80% of Approved Debts 720 ** Disapproved debts can include aged debts beyond a specified time limit, inter company debts, disputed debts, contra balances where you are selling to your suppliers and cash sales. 3

6 Online Client Manager system Our online client manager system is available when you are, wherever you are, allowing you to stay in complete control of your business cashflow. Using a real time system you can make cash available to your business as soon as you raise invoices to your clients. Simply log in and advise us of the level of invoices raised in any given day, week, month or as often as you like. As soon as you assign invoices, funding is available to your business. You can also use the online system to request cash advances, and all requests received before 11am, Monday to Friday, will be processed with funds in your bank account for the same day. You can relax safe in the knowledge that no matter where you are in the world, you can log on to our easy to navigate, secure online system to keep cash flowing to your business. Use Client Manger to: Notify AIBCF of invoices or credit notes raised Request cash advances See up to date sales ledger information Obtain reports The client manager system is perfect 10 out of 10! Customer feedback from AIBCF Customer Survey of Client Manager, 2012 Is Invoice Finance suitable for you? Do you sell business to business? Do you sell on credit? Do you sell fully delivered products or services? Do you have an annual turnover in excess of 750,000? Do you have an ongoing trade debtors ledger of minimum 250,000? If the answer is yes to the above please contact the Invoice Finance team (See page 7 & 8 for details) How much does Invoice Finance cost? There are two elements to our fee structure: A Discount Charge (similar to an interest rate) is levied only on funds used by you and charged monthly. This rate is generally expressed as a percentage margin over the cost of funds * for Euro funding or an alternative base rate for other currency funding A Service Fee (related to the ongoing management of the facility) is charged monthly to your account *Note: the cost of funds is open to change and may fluctuate 4

7 Our approach We have been supporting our customers for 20 years, offering expertise and superior customer service in the provision of Invoice Finance. We will work closely with you at every stage of our relationship, from the initial meeting with your AIBCF business development manager, through to your ongoing interaction with your client relationship team of specialists. We support a wide range of business from small owner-managed firms to large domestic and multinational corporates, including but not limited to the following sectors: Wholesale & Distribution Recruitment Agencies Transport Security Services Food & Drinks Industries Cleaning Services Manufacturing Other Service Industries Whatever your industry, we know every business is different, and every customer has their own individual business needs, we will work with you to ensure Invoice Finance meets your specific business requirements. The biggest accolade that I can offer is that after twenty years of association with AIB Commercial Finance Limited, the quality of the service and customer care provided is still of the highest calibre despite the volatile economic trading conditions David Murphy, Chief Financial Officer, Barry & Fitzwilliam 5

8 Meet your invoice finance team Our team of relationship managers will work in partnership with you by providing a world class relationship service to support your business needs. We are passionate about helping Irish and multinational businesses succeed and are committed to helping you realise your business potential. We will apply our expertise, knowledge and experience to help your business get the maximum benefits from Invoice Finance. 6

9 YOUR INVOICE FINANCE TEAM Deirdre Moore Head of AIB Commercial Finance Limited Deirdre Moore is the Head of AIB Commercial Finance Limited. Deirdre has 26 years extensive banking experience with AIB Group, working in a number of different roles in Capital Markets/Corporate Banking. In Corporate Banking Ireland, Deirdre has worked as a senior relationship manager across a number of sectors, including retail, hotels and leisure, insurance/financial services and international Corporate Banking. Deirdre took on the role of Head of Commercial Finance Limited in July Deirdre is a graduate of University College Dublin. Please contact Deirdre: deirdre.a.moore@aib.ie Tel +353 (0) Mobile (0) David Avery Head of Business Development, AIB Commercial Finance Limited David joined AIB from Lloyds where he helped establish their Commercial Finance Ireland division. David has 17 years Invoice Finance experience working initially for Lloyds UK Commercial Finance and Bank of Scotland in the UK. David is the Head of Business Development and manages an innovative team providing bespoke Invoice Funding solutions. Please contact David: david.g.avery@aib.ie Tel +353 (0) Mobile +353 (0) Richard Whitehouse Head of Client Relations, AIB Commercial Finance Limited Richard joined AIB from a market leading bank in the UK. Richard has 15 years experience in Invoice Finance and Asset Based Lending encompassing roles in Business Development, Credit, Operations and Relationship Management. He has senior management experience in both the UK and Germany and graduated in 2010 with an MBA from the University of Birmingham. Richard is the Head of the Client Relations Team managing the customer relationship experience. Please contact Richard: richard.a.whitehouse@aib.ie Tel +353 (0) Mobile +353 (0) Cliff Glover Head of Operations, AIB Commercial Finance Limited Cliff has worked in Financial Services for 15 years starting off his career in an accountancy practice in Dublin. After gaining valuable experience there Cliff moved to Marsh as a manager with responsibility for a portfolio of subsidiaries of large multinational companies. Before taking up his current position he worked for 10 years with IBRC where he headed up their Commercial Finance division gaining considerable experience in servicing SMEs and larger corporate entities. Please contact Cliff: cliff.j.glover@aib.ie Tel +353 (0) Mobile +353 (0)

10 Meet the Business Development Team Helen O Callaghan Senior Business Development Manager Location Dublin helen.m.o callaghan@aib.ie Mobile +353 (0) Tel +353 (0) Mary Ryan Business Development Manager Location Dublin mary.u.ryan@aib.ie Mobile +353 (0) Tel +353 (0) Maeve Cotter Business Development Manager Location Cork maeve.s.cotter@aib.ie Mobile +353 (0) Tel +353 (0) Deirdre Morrissey Business Development Manager Location Kilkenny deirdre.m.morrissey@aib.ie Mobile +353 (0) Tel +353 (0) Colm Devine Business Development Manager Location Dublin colm.a.devine@aib.ie Mobile +353 (0) Tel +353 (0) Meet the Client Relations Management Team Brendan Crowley Senior Relationship Manager brendan.t.crowley@aib.ie Mobile +353 (0) Tel +353 (0) Anita Kelly Relationship Manager anita.r.kelly@aib.ie Mobile +353 (0) Tel +353 (0) Susan Merrigan Relationship Manager susan.e.merrigan@aib.ie Mobile +353 (0) Tel +353 (0)

11 Contact your invoice Finance Team Please note that the provision of this product or service does not require licensing, authorisation or registration with the Central Bank of Ireland and, as a result, it is not covered by the Central Bank s requirements designed to protect consumers or by a statutory compensation scheme. 9

12 AIB Commercial Finance Limited Invoice Finance is provided through AIB s wholly owned subsidiary, AIB Commercial Finance Limited (AIBCF). AIB Commercial Finance Limited is a company within the AIB Group. Allied Irish Banks, AIB and AIB Group are registered business names of Allied Irish Banks p.l.c. Registered Office: Bankcentre, Ballsbridge, Dublin 4. Tel: ; Registered in Ireland: Registered No