Factoring
Factoring can help you free up working capital and gain earlier access to payments from your customers.
It removes the usual wait of up to 90 days from issuing an invoice to receiving payment, so you can access the cash owed to you more quickly.
If your business doesn't have a large finance department, Factoring could also give you access to support in credit control, freeing up your time to run your business.
Invoice finance can be an effective way to release money from unpaid invoices. To be eligible for Invoice Finance you must have a projected annual turnover of £50,000 plus, and sell to other businesses on credit terms.
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The benefits of Factoring
- You'll have access to the funds you need to grow, without waiting to be paid.
- Factoring can be a much more cost-effective way of funding growth than traditional finance products.
- You can effectively outsource your sales ledger, monthly statements and payment reconciliation to us, freeing up your time to concentrate on your business.
- We can take care of your credit control in a sensitive and professional way, helping you avoid the often awkward calls with customers about late payment.
- Your available cash flow will grow as your sales develop, helping support your growth ambitions without being limited by unpaid invoices.
- The primary security you need is the value of your invoice ledger, reducing the need for a charge on any physical assets.
- Earlier access to payments can mean paying your own suppliers sooner, providing opportunities to negotiate better rates.
- As an online-based service, it's quick and convenient for you to send us invoice details and check funding availability.
- You'll have the support of a knowledgeable, named Client Service Manager, and our dedicated service teams.
