Factoring and invoice discounting are fast growing financial facilities in the UK allowing companies to receive cash from their invoices as soon as they are issued instead of having to wait 30, 60 or even 90 days for the customers to pay.
Factoring enables companies to receive up to 85% of the invoice values within 24 hours of the invoice being raised instead of having money tied up in outstanding invoices for lengthy periods.
One of the advantages of factoring is that the availability of funding isn’t fixed as it is with more traditional bank overdrafts but will automatically increase in line with increasing sales so no more returning to the bank manager to try and negotiate an increase in the overdraft to cope with rising sales.
In addition to the provision of funding the factoring company will also maintain the sales ledger and handle all credit control matters and this outsourcing can make significant cost savings for the company as well as the application of more effective credit control techniques reducing the exposure to bad debts.
There are a large number of factoring companies actively competing for business but unfortunately whilst all appear to offer the same product there are differences in the ways that each factoring companies operate and some of the differences are so profound that the factor that might be the most suitable for one company could actually cause financial problems for the next.
There are no charges for our services and we will only ever introduce you to one of the few factors that actually perform so for an informal chat, please contact us without any obligation whatsoever
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Factoring UK Solutions
5 Torridge, Hockley, Tamworth, Staffordshire B77 5QL
Tel: 01827 707680
Email: enquiries@factoring-uk.net