Factoring

Factoring is a comprehensive sales funding and credit management facility with funds directly linked to your outstanding sales invoices.

This hassle free form of working capital finance can be 'drawn down' as and when you need it. In addition Factoring offers a comprehensive sales ledger management service that is completely flexible and gives you the freedom to concentrate on growing your own business.

You will be supported by a personal Client Manager whose team will look after all your customers, liasing and chasing outstanding invoices using techniques agreed with you.

A full suite of management reports designed to supply you with valuable information is provided on a regular basis. If you prefer, you can monitor your facility from your own PC via our 'CloseNet' service.

Key Features:

Early payments - Up to 95% of the value of your invoices.
We offer a fully comprehensive credit control service.
Bad debt protection optional.
CloseNet access included.

Suitability

Factoring is most suited to businesses with UK sales, on normal credit terms, from start-up to £30 million turnover.

The Benefits

A truly flexible business funding solution supported by a comprehensive management service:

No more cash flow headaches or uncomfortable conversations with your bank manager, allowing you to
concentrate on developing your business.
The ability to continue to give your customers the credit they expect while obtaining immediate 'cash on delivery' from your sales invoices.
The opportunity to make considerable savings in your current administration costs.
The flexibility that allows you to negotiate attractive supplier discounts ensuring that your increased cash flow works for you.
The opportunity to significantly improve your average customer payment period.

Our Charges

Our charges fall into two main categories:

An administration fee calculated as a percentage of your sales invoices.
A discount charge calculated against funds drawn at a rate comparable to, and often better than, your existing overdraft rate.

How much funding can I have?

Use our Invoice Finance Calculator to get an estimate of the level of funding invoice finance could release.