Factoring

Factoring allows your business to release cash against your outstanding customer invoices before they’ve been paid. The key difference between Factoring and Invoice Discounting is that we manage your credit control. 

Factoring in business is ideal if you have customers on long payment terms, or who often pay late, and spend more time than they would like managing customer payments. 

Factoring in finance gives you fast access to cash, helping you to improve your cashflow so you can run your business smoothly and efficiently. Because we liaise with your customers for payment, you have more time to focus on managing your business. Unlike a traditional overdraft or loan, this type of funding grows in line with your turnover and works as a flexible solution to control your cashflow.

No, your invoices are your assets, so you don’t have to provide any additional security to secure funding.

When bringing you onboard we will work with you to make sure the funding you get is exactly what you need. This means that the length of time to have everything in place can vary depending on how complex your business situation is. We work flexibly, from the point of meeting you to understand your needs. Generally, we can set up a facility in a matter of days, however this depends on the speed in which we can access the information we need.

You can call us to have an initial confidential discussion with one of our advisors or to arrange a meeting. Once we understand your specific requirements, then we can provide an indicative offer to you. Following a new business review and consideration by our credit committee we can make a credit offer to you. If you choose to partner with us, then we’ll arrange a set up meeting and can then make payment to you.

If your client doesn’t pay within the agreed period, also known as the recourse period, usually 90 days, funding will be removed unless protected by Bad Debt Protection cover. You have the option to protect against customer insolvency with Bad Debt Protection.

The cost will depend on the services you wish to use as part of any agreement. If you would like to request a quote, simply fill in our short form and we’ll send you the information you need.