Invoice finance provides cash flow for companies that want to release capital tied up in unpaid invoices. If you are not familiar with invoice finance, you can learn more in this article.
What Documents Do I Need to Start?
You can begin your finance application with just your name and email address and then return to it later with more information, but it will speed things up if you have the following details available:
- Your company information
- Your Buyer's company name
- Any invoice(s) you want to finance
- Transport documents, if applicable
- Your company's bank details
- Name of the authorised signatory for your company
- Name of the authorised signatory for your Buyer's company
13 Simple Steps to Finance Your Invoices
Visit the Stenn sign up page. Supply your name, surname, corporate email address and create a password. You can also register with Stenn via Google or Facebook.
- Choose the role of 'Supplier' in the dashboard.
When using Stenn for the first time, you'll need to choose your preferred role. Click the button which says 'Supply goods via Stenn'.
- Add your company information.
Supply your registered company name and the country where your business is based.
- Choose your company from the drop-down list.
If you do not see your company listed, please click 'My company is not listed'.
- Provide details of your Buyer.
Your Buyer must be a registered business and not an individual.
- Choose your Buyer from the drop-down list.
If you do not see your Buyer listed, please click 'My buyer is not listed'.
- Confirm what you're supplying.
Tell us if your Buyer has bought goods or services from you.
- Upload relevant documents.
Upload your invoices and any transport documents, such as Bills of Lading.
Stenn will show you a provisional financing offer based on what you have uploaded. If you are satisfied with it, click 'Next'.
- Provide your company's authorised signatory.
Give us the details of the person authorised to make financial decisions on behalf of your company.
- Add your company bank details.
Now add details of the bank account to which you want us to send payment.
- Add details of your Buyer's signatory.
Give us the details of the person authorised to make financial decisions on behalf of your Buyer's company.
- Review/Accept the Stenn offer.
You'll now be provided with a summary of the deal. If you are satisfied with the terms, accept it and your application will go for approval.
You can now sit back and wait for your application to be assessed. You'll be notified when the approval process is finished. You can check progress at any time by visiting the StennApp dashboard.
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Disclaimer: The above article has been prepared on the basis of Stenn's understanding of the subject. It is for information only and doesn't constitute advice or recommendation. Whilst every care has been taken in preparing this article, we cannot guarantee that inaccuracies will not occur. Stenn International Ltd. will not be held responsible for any loss, damage or inconvenience caused as a result of anything published above. All those applying for credit should seek professional advice when doing so.