Who Underwrites Creative Capital’s Facility?

Our facility is underwritten by Euler Hermes UK, via Bluefin Insurance Services.

Is Protracted Default Covered?

Yes it is. In order to make sure this is covered, we do have to report seriously overdue debts to our insurance company. Once this has been done, we will then cease to fund against that debtor. This is built into our overall credit control process which we can discuss with you at any time.

Am I Tied Into A Contract?

No. As with our Selective Invoice Finance, you only use this as and when you need to. You only pay to insure a debt which is financed by us.

Is There a Set Up Fee?

No. We simply charge you a blended rate for our Bad Debt Protection and cost of borrowing. As with our non-insured Selective Invoice Finance, we charge a fixed rate which is simple to calculate and budget for.

How Is This Different From Credit Checking?

Firstly, credit checking only gives you an opinion of a debtors’ financial strength. If your credit checking facility gets this wrong, there is no recourse back to them. A Credit Insurance company will actually put their money where their mouth is. If they get it wrong and the debtor goes bust whilst you are owed money, they will pay a claim to you. A Credit Insurance company will often have access to more up to date information. They often underwrite based on management accounts supplied to them by debtors, as well as with payment information fed to them by other clients.

Why Do I Need Bad Debt Protection?

There is always a risk of a debtor going bust. As we saw during the last financial crisis, companies of all sizes can go bust, and these can be the most catastrophic. By insuring our debts, we give you the additional peace of mind that should the worst case scenario happen, we will be able to make a claim on your behalf, putting cash back into your business, and further helping to manage your cash flow.

What is Bad Debt Protection?

Also known as credit insurance, it protects you against your customer going bust, or simply not paying when they should have done. It covers against all insolvent events, as well as protracted default.

Need Help?

If you require any help submitting your application, please call us on 01244 561343.

We are available Monday-Friday, 09:00 - 17:00