Nearly 50,000 companies in the UK use invoice factoring instead of business loans and the reason is simple:
Invoice factoring (or debt factoring) like other forms of invoice finance is a quick way to improve business cashflow, releasing cash as invoices are raised and unlike invoice discounting the factoring companies will chase customers for payment directly.
In many cases factoring will bring a business significantly greater working capital than they may receive from a conventional source like a bank overdraft or business loan. Even more so now given the economic climate. Invoice factoring can provide you with up to 90% of your invoice value available within 24 hours. Your factoring company will inject the funds into your business immediately.
Factoring companies will manage the collection of payments by collecting invoices on your behalf, helping to free up valuable management time to focus on putting your business capital to good use and business growth. An option with some providers is Credit Insurance protecting you against bad debts. Whilst the factoring company takes on much of the administrative burden, you still control how your customers are chased for payments. If you don’t want your customers to deal with a third party, if you already have excellent accounting systems, then why not consider Invoice Discounting instead.
Find A Factoring Company
Factors provide a range of services. As a result performance and suitability can vary. Because we work with companies across the UK we get regular feedback on providers. As factoring brokers, we understand the different factoring services available and can get you to the right factoring provider quickly.
Find out how much finance you can raise on 0845 018 0700
Our advice is FREE and we will endeavor to provide MORE THAN ONE factoring quote for you to choose from.
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To compare your current invoice finance or invoice factoring agreement and find a better factoring quote click here or call 0845 018 0700