Satago Review

Satago Review

Satago offers a cash flow solution for small businesses. It provides an advance on the value of an invoice so that you can focus on growing your business without having to wait for all your invoices to be paid. This technologically advanced invoice finance system is an all-in-one solution for simplicity and convenience.

Launched in 2012, Satago has helped countless businesses to move forward and invest in the future of their company through the straightforward system they have in place.

What type of funding does Satago provide?

Selective invoice finance

Highlights

requirments_icon1Loan Amount
Up to 85% of the value of an invoice

Terms
The term of the invoice

Fund received
Within 24 hours

What do I need in order to qualify for funding?

Before you will be approved for a loan, you must make sure you satisfy the requirements, including:

  • You must own a UK private limited business that sell products or services on credit terms to UK limited companies
  • You have been trading for at least 12 months
  • The invoices must have 10 days or more until they are due
  • The invoices must average at least £500

How do I apply to get funding?

You must register with Satago and use Satago Connect to connect your accounting software or if you don’t have accounting software, you can use Satago Direct to upload your invoices manually. You will then be able to see all eligible invoices and their fees and will be able to select the invoices you want funding for. Then, just look over the Finance Agreement, sign it and return it.

Find the right funding for your business

What is the process to receive funding?

Once you have chosen the invoices you want funding for and you have signed the Finance Agreement, up to 85% of the invoice value could be deposited into your bank account on the same day. Once the business pays the invoice, Satago will return the remaining invoice amount minus their fee.

Does Satago run a credit check? 

You can use Satago Risk Insights to check the credit rating of your customers.

Do I have to provide security or a guarantee? 

The finance agreement is the only form of security taken. No Personal Guarantee or debentures required.

Are there fees involved? 

There is only fee, which is a percentage of the advanced amount. No additional fees apply.

What are the loan rates? 

Satago finance will cost 2-3% per month on the advanced amount (not the entire invoice).

What documentation do I need to provide? 

You will need to:

  • Connect your accountancy software to the Satago platform
  • You may be asked to supply
    • Debtor book
    • Invoices of the customers you are looking to fund against

How long will it take for the money to get into my account? 

The money is generally deposited the next day, but in no longer than 5 days.

 

Is Satago regulated? 

Yes, Satago is registered in England and Wales.