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How Factoring can help your business

If you want to relieve cashflow pressures, get access to cash tied up in invoices and free up your time chasing late payments, then Factoring can help your business. It improves your cashflow and is efficient because we manage your sales ledger, credit control and collect payments from your customers.

Factoring services are ideal for businesses that face cashflow challenges and want factoring companies to manage collections from their customers. It can bridge the gap between raising customer invoices and getting paid. At the same time, it can free up your time because we manage your invoicing and debt collection processes, unlike Invoice Discounting where you manage it yourself.

Download What is Invoice Finance?

What is Factoring?

Factoring is a quick and easy way to release cash that's tied up in your customers' outstanding invoices, allowing you to access your funds earlier. To find out how factoring works and how it can help your business, watch our short video.


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Is your businesses suitable for Factoring?

Your business could be suitable to use Factoring if you:

  • Yes: provide goods and/or services to other businesses
  • Yes: issue your customers with credit terms of between 30 and 90 days
  • Yes: want us to manage your credit control

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Factoring

Features:

  • We release up to 100% of invoice value within 24 hours
  • You get cash against the value of your invoices as they are raised
  • The cash you can access grows in line with your sales
  • The duration is unlimited on a rolling contract
  • We liaise with your customers for payment
  • The process can be confidential
  • We can offer optional Bad Debt Protection
  • You can manage your account with our 24/7 Client Online service

Benefits:

  • Speed: access to cash within 24 hours to meet payments or make important purchases
  • Control: we manage your credit control and sales ledger management
  • Personal: we get to know our clients who value our relationship-based approach and our Service Promise
  • Convenience: you can check your funding at any time with our 24/7 Client Online service 
  • Security: you have the option to protect against customer insolvency with Bad Debt Protection
  • Confidentiality: our confidential service means we do not disclose you are using our service


According to statistics from UK Finance, the number of days businesses who use Factoring in the UK wait for payment is 53 days. UK Finance Quarterly Statistics

How Factoring works

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Invoice your customers

And send a copy to us

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We pay up to 100% of the value of your invoice

Within 24hrs, allowing you to pay your staff, suppliers and take on new orders

Contact

We collect payment on your behalf

Leaving you to focus on running your business

Payment

We pay you any remaining balances

Minus any agreed fees


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We help our clients by being discreet

If you do not want your customers to know how you’re funded or if you have reliable collection practices in place and would prefer to keep your credit control function in-house, we can offer a confidential service.

This means we do not tell your customers that you are using a finance facility and you maintain the relationship with your customers, without their knowledge of our involvement. It is always our intention to act in your best interest.

When it comes to your customers paying their invoices, and to keep the process confidential, your customers make payments into a trust bank account in your name even though the funds are paid to us.