bottom curve
bottom curve

Factoring

Factoring is one of the two main types of Invoice Finance. It allows you to access the money you’re owed, via a flexible funding and collections service which releases up to 85% of the cash tied up in outstanding invoices. We also offer credit control and sales ledger management – by chasing invoices and collecting payments, we free up your time so you can concentrate on running your business. 

How does Factoring work?

All you need to do is…

  • Send your invoice to both your customer and Bibby Financial Services and within the next 24 hours you will receive 85% of the value
  • When your customer pays us, we’ll send you the remaining 15% minus our fees
  • If you have particular business funding needs, we can create an invoice factoring solution tailored to these requirements

Benefits to your business

  • You’ll get instant funding – up to 85% of your outstanding invoices within 24 hours, taking away the worry of late payment
  • You can free up you time by letting us handle credit control and manage your sales ledger 
  • We’ll collect and allocate your clients’ payments
  • You can add Bad Debt Protection to your Invoice Factoring package and have peace of mind that you’ll get paid should customers become insolvent or are unable to pay
  • Your customers don’t need to know that you are using our Factoring service – we can offer it confidentially, so that you maintain your existing relationship
  • You will be allocated your very own individual point of contact who can supplement all aspects of your facility
  • You will stay in control of your finances by offering live online account information which is always accessible 
  • We can tailor your factoring service to your specific needs

Want to find out how factoring could aid your business? Call free on 0800 91 95 92 or complete our enquiry form