How does business debt factoring work in the UK
A business debt factoring facility can be arranged if a business has turnover over £50,000 a year and sells its goods or services on credit terms. A business debt factoring company will buy those invoices at a discount and then collect the balance of the business debt from the customers. This arrangement is used to improve cash flow for a business. Call 0800 597 4757 and an advisor will discuss your particular business needs and let you know whether a business factoring facility can help grow your business.
What is business debt?
Since business need cash to survive late payment of business debts can be a major problem especially smaller firms where slow paying business debts can ultimately cause a business to fail Business debts and slow paying customers is often a trait of a small business dealing with much larger companies, deliberately delaying payment to smaller businesses. In the UK business debt factoring is one guaranteed method to get customers to pay on time.
What is business Debt Factoring?
The advantages of using a Business Debt Factoring service
- With business debt factoring the only assets required to borrow against are you invoices so this is why its an attractive proposition.
- Business factoring companies act like an in-house debt collection agency.
- Debts are collected in full by the factoring company.
- Using business factoring means that cash with continues to flow into your business as long as invoices are regularly raised.
- As a business expands a business factoring facility will grow to enable smooth organic growth.
- The business owners can continue to grow the business and not waste tike worrying about collecting debts.
- There are no credit checks on your business with a business debt factoring agreement.
Is your business being affected by the late payment of business debts? If so call 0800 597 4757 to get advice on how a business debt factoring facility can assist you and your business. The advice team will provide a detailed factoring overview and explain how business factoring could benefit your business.
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