TP24 (Tradeplus24): products, terms and eligibility

TP24 (Tradeplus24) is a UK provider of invoice finance. It is based in London.

The TP24 UK site does not publish a founding date, ownership or group details. It lists regional sites for the United Kingdom, Australia and Switzerland.

Everything on this page comes from what TP24 (Tradeplus24) publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

TP24 (Tradeplus24) publishes one product for UK businesses. The table above gives the amounts and terms as it states them.

• CreditLine (receivables-backed credit facility): Draw funds as needed against eligible receivables; interest is paid only on the amount drawn.

CreditLine (receivables-backed credit facility)

A credit facility of £250,000 to £5,000,000 backed by the business’s accounts receivable, with the limit growing as receivables grow. TP24 says the business draws only what it needs and pays interest only on what it draws. It says there are no personal guarantees, lock-in contracts, trust accounts or floating charges, and that facilities are insurance-backed with cover from Allianz. Daily recalculation against debtors is done via accounting software integration or manual upload.

TP24 (Tradeplus24) says its finance is used for:

• Working capital against unpaid invoices
• Flexible drawdown as sales grow

Sectors and business types it says it funds:

• B2B SMEs

TP24 (Tradeplus24) publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• B2B SMEs with accounts receivable.
• Receivables are checked against TP24 eligibility criteria and split into eligible and non-eligible.
• Weekly update of the receivables ledger required (automated via accounting software or manual).
• Cloud accounting access and debtor book needed to set up.

TP24 (Tradeplus24) describes its process like this:

1. Contact the team.
2. Give access to cloud accounting system and debtor records.
3. TP24 assesses the business and makes an offer.
4. The CreditLine becomes available.

Information it says it asks for:

• Access to cloud accounting data and debtor records

Every application is subject to status and the lender’s own criteria at the time.

Invoice finance releases cash tied up in unpaid invoices: the provider advances part of an invoice’s value when you raise it and pays the balance, less its charges, when your customer pays. With factoring the provider collects from your customers; with invoice discounting you keep collecting yourself.

Providers assess your customers as much as your own business: who owes you, on what terms and how concentrated the debt is. It suits firms that sell on credit to other businesses, such as recruitment agencies and manufacturers.

Points TP24 (Tradeplus24) publishes that are worth knowing:

• Says it does not rely on a personal guarantee, lock-in agreement or trust account, and does not include a floating charge.
• Credit limit is insured through a double-wrap insurance with partner Allianz, per the site.
• Credit line moves with the value of eligible receivables.
• Intended for general corporate purposes with no restriction on use.

Security and guarantees

TP24 says there are no personal guarantees, no lock-in contract and no trust account; it also says there is no floating charge.

TP24 (Tradeplus24)’s site states: “we are not regulated by the standard bodies that protect consumers in financial services. However, we comply with all required (inter)national data protection laws such as the GDPR, are registered with the FCA as an Annex 1 financial company”

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of invoice finance with profiles here include Triver, Kriya and Aldermore Bank. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.