Satago is an accredited lender for the purposes of the government’s Coronavirus Business Interruption Loan Scheme (CBILS). This means it is able to provide business loans to those that have been seriously impacted by the crisis.
Founded in 2012, Satago was formed as a Cloud accounting credit control system. It later offered risk insight information in order to help small firms analyse the risk profiles of business partners. It now provides business cash flow support for small companies.
Does your company need some extra assistance managing its cash flow, due to clients not always paying invoices on time? If so, Satago may be able to help you. It offers invoice financing support for companies that use accounting software to manage their finances. You create an account on its site, log in and then select the invoices that you have sent to clients. The system allows you to see how your customers are performing with up-to-date credit reports so you can manage your collections effectively.
About Satago invoice financing
If you run a business and are constantly invoicing clients while also needing to pay overheads like electricity, staff wages and property rental, you might find yourself low on funds because clients either haven’t paid invoices on time. Satago helps to solve this problem. It can lend you a percentage of an invoice’s face value at a competitive rate. This way, you’ll know you always have the cash to keep your business going.
Key features of Satago invoice financing at a glance
Loan duration. The duration of its loans ranges from a minimum of 10 days to a maximum of 120 days.
Security. All of Satago’s loans are unsecured and require no guarantee.
Fixed monthly repayments. All loans come with fixed repayment plans. This will ensure you always know how much money will be coming out of your account and can plan your finances accordingly. There is a single fee per invoice on the amount advanced. Prices start from 1% per 30 days. Fees only apply for the period in which the invoice is outstanding.
Option to take a repayment holiday. This is not explicitly stated on its website. Please contact Satago directly for more on this.
Quick decision. Once you’ve create an account, you should receive a decision on whether or not a particular invoice will be financed within 48 hours of making the application.
Repay your loan early at any time. With Satago here are no penalties for repaying your loan early.
Quick access to funds. If you need fast access, contact Satago to ask if it’s possible.
No set-up fees. There is a set-up fee which varies depending on the particulars of the loan in question.
Preferential rates for existing customers. Contact Satago directly if you want to ask about this as it’s not stated on the site.
How can we help?
Compare loan rates
Get live, personalised quotes on unsecured or secured loans from a large panel of lenders through our partner Funding Xchange.
You should only apply for a Satago invoice finance plan if you’re certain you can meet the repayment terms, and you meet the following criteria.
Criteria your company must meet
Private limited company that was incorporated in the UK (excluding Northern Ireland, Channel Islands and Isle of Man)
Selling products or services to other businesses on credit terms
Those businesses are solvent and have been trading for at least three years
Your company has been trading for at least one year
Your company is using accounting software
Invoice value must be £500 or more (as of July 2018).
Satago analyses your clients to determine whether or not it’s safe to finance the invoices. It places them into the following categories:
very high risk
Satago may decide to finance invoices for companies that are either high risk or very high risk, but this is unlikely. If your clients fall into those categories, Satago will likely refuse to finance them.
How can I apply?
To sign up for Satago Business finance call 020-8050-3015 within office hours. Alternatively you can sign up via its website at https://app.satago.com/register.
You will need to provide the following:
Name, address, and date of birth of your company’s majority shareholders
Completed bank verification check
You will also be asked to sign its finance agreement
Get tailored loan quotes
Save time by checking eligibility with multiple lenders and get quotes for BBLS/CBILS and other loans.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
Business loan statisticsBusinesses all over the UK face financial instability daily, which often requires outside funding. We have looked into how the state of borrowing for these businesses differs between the industry, over the years, and for the size of the business.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.