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Export Factoring

Helping you trade overseas with confidence

Export Factoring is a comprehensive funding and collections service. It’s designed specifically for businesses involved in exporting, who want to release the cash tied up in outstanding domestic and overseas invoices. We provide funding against those invoices. Best of all, as your business grows, so does the amount of funding available to you through Export Factoring. 

How does Export Factoring Work?

Export Factoring boosts your cash flow by providing an immediate injection of cash into your business, against the value of your outstanding invoices. For each invoice you raise, Export Factoring will release a percentage of its value to you within 24 hours. The remaining balance, less a small fee, will be released after your customer has settled the invoice payment in full.

How will Export Factoring benefit my business?

  • Export Factoring provides you with an immediate and ongoing supply of cash linked to your sales
  • You can afford to give extended credit to your customers, e.g. credit over 70 days instead of 30 by utilising the funding available through export finance
  • We credit check your end customers and provide credit ratings you can trust - for both your existing customers and new ones
  • We have a specialist team of multi-lingual credit controllers who will chase your customers for payment of outstanding invoices
  • All communications with your customers, whether statements, emails, letters or most importantly phone calls are all in the relevant language, helping overcome language and cultural barriers
  • We will collect your customers' payments via our international currency accounts in whatever currency you have agreed with them
  • Our accounts allow us to receive payments in different currencies and in different countries making it easier, quicker and less onerous for your customers to pay
  • You will receive a faster payment rather than if your customer had to raise a payment in sterling
  • We manage a number of currency exchanges so you don’t lose out from fluctuating exchange rates
  • Bibby Financial Services has a presence in 15 other countries and these teams also help us collect your debts meaning that we have staff in a relevant time zone no matter where in the world your customers are
  • We also offer bad debt protection to give you extra peace of mind in case one of your customers defaults on an invoice. If a claim needs to be made then whilst it is being resolved we do not pull the funding from you, therefore your business does not suffer any disruption to its cashflow
  • Bad debt protection can in some instances allow us to fund invoices and debtors that we otherwise would not fund or only fund to a low level. Therefore it can increase the amount of cash we can give you
  • We participate in the UKEF’s Export Insurance Policy which gives exporters insurance cover against customers/debtors in countries that the commercial insurance market will not insure.  Please click here for more information.
  • You will maintain control of your finances and have access to live account information 24/7 through our online system

To learn more about our Export Factoring products, give us a call on 0800 91 95 92 or complete our enquiry form