Cash before the due date
With invoice financing a company receives the money from a sales invoice before the customer has paid. The financier pays part of the invoice value up front and charges a fee, usually made up of a financing rate and per-invoice charges. In factoring the financier can also handle invoicing and collection.
Pricing varies with the customer’s ability to pay, invoice volume and the contract, and few financiers publish it. We openly mark which products are priced individually.
The market right now
We track 3 products from 3 lenders. 0 products (0%) publish a rate; for the rest the price is negotiable or not published.
In this category lenders do not publish a rate for now, so the price depends on the applicant.
Data updated automatically.
How invoice financing works
The company assigns a sales invoice to the financier and receives part of the invoice value immediately. When the customer pays, the remainder is paid to the company after the financing charge and fees are deducted. Cash flow evens out even if the customer’s payment period is long.
With or without recourse
With recourse the financier can demand the money back from the company if the customer does not pay. Without recourse the customer’s payment risk passes to the financier, but the price is often higher. Make sure of this in the contract before signing.
Factoring and invoice financing
In factoring the financier can also handle invoicing, ledger and collection. In invoice financing these usually stay with the company itself. The choice depends on whether the company wants to outsource part of its finance process.
Price and costs
The price consists of a financing rate, per-invoice charges and a possible set-up fee. It varies with the customer’s ability to pay, the number of invoices and the length of the contract, and few financiers publish it. Ask for an offer and calculate the total cost on a typical invoice.
Who invoice financing suits
It suits companies that invoice other businesses with long payment terms and whose cash flow suffers from waiting. It is less suitable for companies whose customers pay quickly or whose invoices are small and sporadic, because fixed costs can grow too large in proportion.
What to ask about the contract
- Whether all invoices are financed or selected ones, and whether there is a minimum invoicing volume.
- What share of the invoice is advanced and when the rest is paid.
- How costs are calculated if the customer pays late.
- Whether the financing is with or without recourse.
Invoice financing next to a business loan
Invoice financing flexes with sales: the more you invoice, the more funding is available. A business loan is a fixed sum for a fixed time. Sometimes a company uses both: the loan finances an investment and invoice financing the working capital.
How invoice financing works in practice
In invoice financing the company sells its receivables to the financier or pledges them as collateral. The financier usually pays a large share of the invoice amount in advance, and the rest is paid when the customer has paid the invoice, less the financier’s fee and interest. The company thus gets working capital immediately without waiting for a long payment term.
Notified and non-notified financing
In notified financing the invoice customer is told that the receivable has been transferred to the financier, and the customer pays the financier directly. In non-notified financing the customer still pays the company. The choice affects price and the customer relationship.
With and without recourse
With recourse the financier can claim the money back from the company if the customer does not pay. Without recourse the risk of customer insolvency is with the financier, which raises the price. Check which agreement applies.
Price and terms
The price of invoice financing usually consists of a finance charge for the advance period and a service fee, which can be a percentage of the invoice amount, plus possible set-up and monthly fees. Because payment terms vary, the total cost depends on how fast customers pay. Ask the financier for a sample calculation with your own invoicing.
- Which customers and invoices does the financier accept?
- Is there a monthly minimum volume?
- What happens if a customer disputes an invoice?
- How is the agreement terminated?
When invoice financing suits
Invoice financing suits a company with regular B2B invoicing and long payment terms that needs to smooth cash flow. It suits less if customers are consumers or invoicing is irregular. Alternatives are a business credit line, a business loan and leasing; compare the total cost too.
Lenders in brief: invoice financing
Invoice financing is a form of finance where a company turns its receivables into cash before the due date. Below, every lender we track has its own short profile. For each you see the published price, any margin, the amount and term, and a link to the lender’s profile. Order: by published rate from lowest to highest, unpriced last; data as of 07/10/2026.
Kasvurahoitus – invoice financing
Lender: price negotiable / not published. Appears in the Finanssivalvonta register of supervised entities. Read more: Kasvurahoitus.
Norion Bank – invoice financing
Bank branch: price negotiable / not published. Appears in the Finanssivalvonta register of supervised entities. Read more: Norion Bank.
Svea Bank – invoice financing
Bank branch: price negotiable / not published. Appears in the Finanssivalvonta register of supervised entities. Read more: Svea Bank.
Banks and other lenders: how the difference shows
Banks and non-bank lenders price invoice financing differently, so we separate them. The table shows the range of published rates for each group.
| Group | Products | Lowest | Median | Highest |
|---|---|---|---|---|
| Banks | 2 | – | – | – |
| Finance companies and others | 1 | – | – | – |
The gap between the group medians is 0.00% points. It partly reflects the funding source and risk appetite: a bank funds loans with deposits, a finance company from other sources, and pricing is based on the applicant’s risk. More on the groups: banks and finance companies.
How to read the invoice financing table
The table is made for comparison, but the figures need interpreting. The following three points help you avoid the most common misreadings.
Starting rate and your own rate
The rate in the table is the starting price or low end of a range the lender publishes. In business finance the price depends on the size of the company, its sector, collateral and ability to pay, so your own price can be clearly higher. Use the figure as a starting point, not as an offer.
Margin and reference rate
If the table shows a margin and Euribor, the total rate is their sum. Euribor changes, so the monthly payment can change during the term. The margin is the bank’s own share and often stays the same. In a fixed-rate product the rate does not change during the contract period.
Amount and term
Amount and term limits show what need the product was designed for. If the amount you need is outside the limits the product does not fit, even if its rate is lowest. Lengthening the term lowers the payment but raises interest costs; test the options in the calculator.
Who can get invoice financing: requirements
The terms of business finance vary by lender and are stated on the product’s own pages. Typically the lender looks at the company’s trading history, turnover, profitability, collateral and the entrepreneur’s background.
Company details
Be ready to provide financial statements or recent financial data, tax matters and, where needed, a business plan. A new company has fewer options, and guarantees from the state financier Finnvera can help.
Collateral and guarantors
According to our data the invoice financing products we track are mostly not secured. Collateral lowers the lender’s risk and usually the rate, but you can lose it if payments are missed. A personal guarantee from the entrepreneur also ties the entrepreneur’s own assets.
Pros and cons of invoice financing
Advantages
- Financing can be fitted to the company’s need and cash flow.
- Prices and terms can be compared before contacting a lender.
- Banks, finance companies and the state financier are side by side.
Drawbacks
- The price is often negotiable and cannot be compared before contact.
- Collateral and personal guarantees can tie the entrepreneur’s own assets.
- The consumer-credit rate caps do not cover business finance.
What makes up the price of invoice financing
The price is not only the rate. In business finance the price can include interest or a financing fee, an opening fee, an account or invoicing fee, collateral costs and possible early-repayment costs. On a small amount over a short term fixed fees raise the total cost more than the rate does. The total cost in euros says more than the monthly payment.
Common mistakes when comparing invoice financing
Comparing only the monthly payment
A small payment can mean a long term and large interest costs. Always compare the total cost and the annual percentage rate.
Treating the published rate as your own
The published rate is a starting price. The lender sets the final rate from the applicant’s information, and it can be higher.
Forgetting rate risk
On a Euribor-linked invoice financing the payment can rise if the reference rate rises. Check whether your finances cope with a two-percentage-point rise; the calculator shows the effect.
When invoice financing is not the right solution
Invoice financing does not fit every need. If you need an amount that exceeds the product limits, or the purpose is quite different, compare other categories: business loan, business credit line, leasing or crowdfunding. If you already have payment difficulties new credit rarely solves the problem; contact debt counselling.
Compare other product categories
- Business loan: 15 products, no prices published.
- Business credit line: 2 products, median rate 12.00%.
- Leasing: 1 products, no prices published.
- Crowdfunding: 1 products, no prices published.
By group: banks, finance companies and others, business loans and all lenders.
Checklist before applying
- I know the amount and term I need and have calculated the monthly payment.
- I have compared at least three lenders and looked at the annual percentage rate or the total cost.
- The lender is registered or supervised (Finanssivalvonta register).
- I have read the pre-contract information and the agreement in full.
- I can cope with a rate rise if the loan is Euribor-linked.
- I do not pay anything in advance before the money is in my account.
Applying step by step
Before the application
Decide the amount and term, calculate the monthly payment and check how much room you have left. Have recent financial data and any collateral details ready. Compare three or four lenders in the table and read their pre-contract information.
During the application
You always apply directly with the lender on its own site. Fill in the details truthfully and check the amount, term and costs before confirming. Haeluotto does not process applications and does not see your details.
After the decision
Read the agreement and pre-contract information calmly before signing. Check collateral, guarantees and the terms of early repayment.
If the application is rejected
A refusal does not mean other lenders will refuse too, but a burst of applications does not help. Ask for the reasons, check your credit record and the positive credit register data, and consider whether a smaller amount or a longer term is realistic. Do not apply everywhere at once. If you already have payment difficulties, contact debt counselling before taking new credit.
Supervision and regulation
The consumer-credit rate caps do not apply to credit granted to companies, but banks are credit institutions supervised by Finanssivalvonta and Finnvera is the state’s specialised financing company. Check the lender with Finanssivalvonta and read about price limits on the Finnish Competition and Consumer Authority site. Lenders and groups are also on the lender list.
Payment difficulties and getting help
If the loan starts to feel heavy, contact the lender before a payment is missed. Many lenders offer a repayment holiday or a new payment plan. Debt counselling helps free of charge, and it is important to seek help early: late-payment costs and collection add to the debt quickly.
Recognising scams
Beware of offers that demand an advance payment, a “security fee” or a “processing fee” before the money is in your account. Do not give online-banking credentials by phone or message. Use the lender’s own, known address and check the company in the Finanssivalvonta register. Haeluotto never asks for credentials, payments or credit data.
Your budget before the loan
A good loan starts from a budget, not from an application. Go through the following steps before comparing lenders.
- Calculate your monthly income after tax and subtract fixed expenses: rent or mortgage, bills, insurance and food.
- Add the monthly payments of existing loans and credits.
- Keep a buffer worth at least a month of expenses for unexpected costs.
- What remains is the upper limit of the payment, not a target: choose a payment you can make even when income falls or the rate rises.
- Test the payment in the calculator with different terms and see which amount and term it allows.
How lenders assess risk
In business finance the lender assesses the company’s cash flow, profitability, indebtedness, sector and collateral. Risk sets the price: the less certain repayment is, the higher the rate or the stronger the collateral required. That is why the same product can cost different applicants different amounts, and why a published starting price is not a personal offer. The lender’s assessment rests on the information you give in the application and on registers, so do not give wrong information; it can lead to rejection or problems with the contract later.
Rate, margin and APR in brief
- Nominal rate is the annual rate calculated on the loan without other costs.
- Margin is the lender’s own share on top of a reference rate (for example Euribor).
- Annual percentage rate (APR) combines the interest and all credit costs into one annual percentage in consumer credit.
- Representative example is a calculation the lender publishes for a given amount and term; it does not necessarily match the price offered to you.
The differences are explained further on the methodology page, and a glossary is also at the bottom of this page.
Repayment and early repayment
Early repayment of a business loan is agreed in the contract, and it may involve costs. If possible, pay a small extra instalment now and then: it shortens the term and reduces interest costs. Before signing, check whether the due date can be moved and what that costs.
Information needed for the application
In business finance the lender usually asks for recent financial statements, an interim forecast of profit and balance for the current year, tax data, details of the company’s owners and details of collateral and guarantors. A new company is asked for a business plan and a cash-flow forecast. Prepare the information in advance so the application is not delayed. Check that what you provide is correct: wrong information can lead to rejection.
Questions to ask the lender
- What is the total cost of the loan in euros over the whole term?
- What costs are there besides the opening fee and monthly fees?
- Is the rate fixed or linked to a reference rate, and when is it reviewed?
- Can I repay the loan early, and what does it cost?
- What happens if a payment is late?
- What data does the lender store and to whom does it disclose it?
Write down the answers and compare them side by side across lenders. If an answer is unclear or evasive, take that into account in your choice.
Common misconceptions
“The lowest rate is always the best option”
The lowest rate is not the best if it comes with high side costs, a short price period or terms that do not suit your situation. Compare the total cost and the terms.
“The published rate is what I will pay”
The published rate is a starting price or the low end of a range. Your own price depends on the applicant’s information.
“Comparing means applying”
Comparing is research. The application is made only to the lender, and Haeluotto does not see your application. Applying can affect your credit record, so compare first and apply afterwards.
Follow the market
Prices and terms change. In the market watch you see lenders’ rate changes and regulatory news, and in the market report the price range of the whole market and Euribor development. If you want to follow changes, subscribe to the digest of best offers with the newsletter on the front page.
Summary and next steps
The invoice financing comparison has 3 products, and no lender publishes a rate. Start by working out the monthly payment you need in the calculator, choose two or three lenders from the table and ask them for their own pre-contract information. Remember that the published price is a starting point, not an offer, and that the final decision is made by the lender.
When to seek advice
For large or complex financing it is worth talking to an accountant, a business service or an independent financial expert before signing, especially if the financing involves a personal guarantee or collateral. Advice helps assess ability to repay, compare options and understand the terms of the agreement. Haeluotto does not give personal credit or investment advice, but our pages give information you can use to prepare for the conversation.
Where the data comes from
The invoice financing figures are collected from lenders’ own public pages every night. Unpublished prices are not guessed. The table follows 3 products, of which 0 have a published rate; status 07/10/2026. Rate changes are logged in the market watch, the whole-market picture is in the market report and the calculation methods on the methodology page.
Glossary
- Recourse
- The financier’s right to demand the money back from the company if the customer does not pay the financed invoice.
- Factoring
- A form of invoice financing where the financier handles invoicing, the ledger and collection in addition to funding.
- Opening / handling fee
- A one-off charge made by the lender for granting the loan. It counts as a credit cost and therefore enters the APR.
Frequently asked questions
Is invoice financing a loan?
Depending on the structure it is either a loan against invoices or a sale of the receivable. The difference affects bookkeeping and who bears the customer’s payment risk, so read the contract.
Does the customer know the invoice has been financed?
It depends on the contract type. In open financing the customer knows, in confidential financing not. This affects the customer relationship, so agree it in advance.
Can I apply for invoice financing through Haeluotto?
No. Haeluotto is a comparison service that does not process applications or make credit decisions. You always apply directly with the lender on its own site.
How often are invoice financing prices updated?
Prices are fetched from lenders’ own pages every night. When a rate change is detected it is logged in the market watch. Latest update: 07/10/2026.
Why do not all invoice financing products have a rate?
Many lenders set the rate only at the credit decision. We then show “negotiable / not published” and do not guess a figure.