A financing request is completely free of charge, including the analysis phase by the October credit team. Only after the loan is funded will you be charged anything (3% upfront fee and 1/12% for the management of the cashflows) which will be detailed in a totally transparent way in the loan offer. These costs represent financial expenses that will be recognised as such in your company’s income statement, thus reducing taxable income.
Upon payment of the funds, October charges a project set-up fee equal to 3% of the amount borrowed. This commission is deducted directly from the amount paid into your bank account.
In addition, a flow management fee equal to 1/12% of the outstanding amount is invoiced monthly as part of the financial flow management. It covers the costs associated with processing the many financial flows (drawing a due date from your bank account and distributing this amount among all lenders, in proportion to the amount lent) and is directly added to your monthly payments.