To remain competitive UK Companies realise that they need to give credit terms to their customers, however, they also need early payment of sales invoices to assist their cash flow. Invoice factoring services provide this very solution allowing businesses to get the best of both worlds.
- Improve Cashflow with Invoice Factoring
- Single Invoice Factoring Available
- 3 Month Trial to see if it works for your Company
- Release up to 95% of the invoice day 1
- Bad debt Protection & Credit Insurance
- Outsource Credit Control & Collections
- Debt Factoring & Accounts Receivable
- Flexible Funding that tracks your sales
- FREE factoring quotes provided
- Startups to £30 million turnover
Who is eligible for Invoice factoring?
Most businesses trading with businesses that offer goods or services on credit terms are eligible for a factoring service or solution. Because business is broad and diverse factoring solutions are often tailored and customised to the individual business requirement, however, here are a few popular industry sectors:
- Haulage, Logistics, Shipping & distribution
- Manufacturing and Engineering businesses.
- Printing & Packaging
- Recruitment Agency & Consultants
- Body shop and accident repair garages
- The Construction Industry, including those operating within contracts
- Business Supply & Business Services
- Advertising, Media and Marketing
- International Trade or Import and Export
This is by no means an exhaustive list of business sectors eligible for invoice factoring, however, if you are a company selling goods or services to other companies and you offer your clients credit terms, such as 30, 60 or 90 days credit to pay you you could be eligible for invoice factoring. If you would like to discuss your specific industry or business requirement call 0800 316 1612 or apply online for a free invoice factoring quote.
What is Invoice Factoring?
Factoring is a service delivered by a factor, a financial institution that accelerates the cash conversation cycle for client companies, allowing them to gain access to debtors more quickly than if they waited for the normal credit period to elapse.
Advantages of debt factoring Services?
Funding is flexible and linked to your current and future trading levels and needs. You can plan more confidently and compete more aggressively offering your customers extended credit terms without affecting your working capital or incurring cash flow problems.
- Gain access to sales invoices on day 1
- No longer constrained by overdraft limitations
- Non-recourse factoring offers protection from bad debts
- Flexibility to negotiate attractive supplier discounts
- Remove all expense and hassle of chasing payments of invoices – saving you time!
- Available to companies within Administration, CVA, bad credit or who have performed a phoenix
- FREE invoice factoring quotes provided
- Excellent way of providing funding for MBO, MBI, Corporate Restructure or diversification.
Invoice Factoring can play a significant part in Business Rescue and Restructure. Often the fastest business lifeline for a company receiving a Bad Credit rating from customers slow or poor payment record. Company Voluntary Arrangement ( CVA ) CCJ’s, Company Bad Credit Ratings and defaults or Phoenix Accepted.