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This is the ideal course for newcomers to the invoice finance and asset based lending industry who wish to gain industry knowledge.
The Foundation course is the entry level of the UK Finance IFABL distance learning programme and provides an overview of the invoice finance and asset based lending industry. This includes a brief history of the industry, the products, the benefits to clients, and the methods that the industry uses to finance clients whilst protecting its investment. The course is designed to assist staff in developing a general understanding of the workings of the industry together with an increased awareness of clients’ expectations and issues.
Who should complete this course?
The foundation course is available to start at anytime throughout the year. This course is suitable for recent entrants to the industry and support staff who may wish to learn more about the industry in which they work. There are no specific entry requirements, and the course can be taken anywhere that the student has access to the internet.
Course Structure
The course is comprised of five modules which students complete with the guidance of a coach, usually their line manager or another experienced member of their organisation.
The activities are designed to encourage the student to learn more about their own organisation as well as the industry in general.
The modules include:
Full information on each module can be found by clicking below:
At the end of this module students will be able to:
► Describe the development of their own organisation in the context of the invoice finance industry as a whole.
► Identify the different types of invoice financing available.
► Describe the products their company offers.
At the end of this module students will be able to:
► Recognise the different financing options for a company.
► Describe the security their company uses and in what circumstances.
► Explain why a company needs funding.
► Calculate the cost of invoice financing to a given company.
► Describe how their company finds and serves clients.
At the end of this module students will be able to:
► Recognise some of the considerations when deciding the suitability of potential clients.
► List the facts which an invoice financier establishes about the nature of a client’s business before offering a facility.
► Reproduce the process by which an offer to finance is made within their company.
► Describe the take-on process for a new client unapproved and the impact this has on a client’s facility.
► Identify different types of retentions.
► Calculate client availability.
At the end of this module students will be able to:
► Illustrate how the invoice financier views a sales ledger and determines how much they are prepared to advance to the client.
► Explain the significance of debt verification.
► Describe how the invoice financier monitors the client.
► Recognise the different reasons that cause an invoice to be unapproved and the impact this has on a Client’s facility.
► Identify different types of retentions.
► Calculate client availability.
At the end of this module students will be able to:
► Explain the different types of retentions that may be held on a stock finance facility.
► Describe the forms of security that a lender may take to support an asset based facility.
► Demonstrate the difference between invoice finance and asset based lending.
► Explain the fee charging system for such facilities.
Study time
The modules are designed to be completed within a period of three months. Depending on your knowledge and experience it is estimated that each module will take between three and seven hours work to complete, and it should be possible to finish each one, including the assessment, within four weeks.
Assessment
Having completed and been assessed on each module of the course, the student will undertake a final electronic examination covering the first five modules. The system will grade with a ‘pass’ or ‘fail’, ‘pass’ and successful students will receive a certificate.
Testimonials from previous students
“With no prior knowledge of invoice finance, the course was vastly beneficial for providing information on both the basics and finer details of the product; as well as its application to businesses and their respective industries.”
“I thought the course provided me with a good foundation in the understanding of invoice finance and would recommend it.“
This is the ideal course for newcomers to the invoice finance and asset based lending industry or any of the below: