With the growing popularity of Factoring and Factoring type facilities has come a sharp rise in the number of companies providing such facilities. What was once almost the sole preserve of the UK Banks is now crowded with all manner of providers from the banks themselves through to small, independent providers sometimes operating on a regional basis.
There are privately owned providers, venture capital owned, taxpayer owned, American owned, French owned and so on and just about all the providers have merit in their offerings.
They all have their likes and dislikes and some will enter into sectors such as construction where others fear to tread. Different pricing policies mean that the same business, talking to three different companies will get three different price offerings.
Recent developments include the provision of single invoice factoring, historically not offered in favour of whole turnover agreements. Likewise the arrival of a web based auction system through which businesses can have investors bid to buy invoices is an innovative and potentially exciting new product.
Overall there are a lot of variations on the general factoring theme so finding the right one for your business can be a time consuming and not always rewarding exercise.
Just Factoring is a specialist, independent and importantly, experienced brokerage that knows the factoring companies.