Invoice Factoring

Invoice factoring allows you to get paid when you raise your invoices rather than waiting for your customer to pay. We take responsibility for securing and collecting the payment from your customers, leaving you free to focus on the day-to-day running of your business.

Benefits of Invoice Factoring

How Does Factoring Work?

Is Factoring Suitable For My Business?

Benefits of Invoice Factoring

• Up to 85% of the value of your unpaid invoices is immediately available
• Linked to full credit support and detailed credit checks
• Experienced credit controllers will have direct contact with your customers to ensure that payments are received promptly
• All elements of your credit control function will be managed by us, including statements, collection letters and – if ever required – legal actions
• Combined with bad debt protection, your unpaid invoices are protected
• You can contact us anytime for advice, on the phone or in person

If you’re already convinced of the benefits invoice factoring can bring to your business, get in touch with us for a discussion. If not, continue reading to find out how the factoring process works…

How Does Factoring Work?

After you get in touch with us, we’ll arrange a meeting within 2 days. Based on our discussions, we’ll make an informed decision over the suitability of invoice factoring and give you an indication of the finance available. We will aim to get your facility up-and-running with 7 working days. Once you raise an invoice, you’ll receive up to 85% of the cash owed to you. When your customer pays the invoice, you will receive the outstanding balance.

We will manage all elements of your credit control function or our credit controllers will directly contact your customers to ensure that prompt payments are received.

Unlike other factoring companies, our contract with you is not based upon a minimal monthly volume of invoicing. Instead, we base our contracts on quarterly volume. This is fairer because it accounts for the natural peaks-and-troughs of your business.

Is Factoring Suitable For My Business?

Invoice factoring is available for all businesses, whether you are a start up or a larger SME.

Some of the businesses we work with have tried other factoring companies only to find their service doesn’t live up to expectations. Luckily, the process of switching from an existing factor is simple. The inter-factor transfer process is a standard system which takes around 10 days to complete, and gives you the option of using a more bespoke factoring service tailored to your requirements.

If you are an accountant, broker or financial advisor whose clients require a solution to their cash flow problems, you can follow this link to find out more about becoming an introducer.