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Factoring Service

Factoring has become one of the leading forms of business funding, due to the decline of the traditional bank overdraft facility.

A factoring service can provide a complete credit control service, combining funding with sales ledger control and administration, without damaging the goodwill you have developed with your customers. Additional services can be added, including bad debt protection, stock finance, trade finance facilities, asset finance and business loans including the EFG loan scheme.

Factoring is one of the simplest financial services available to ease your cash flow burden. By expanding your cash flow, your business will be and able to take advantage of business opportunities. Not only will a factoring service improve your cash flow and potentially help your credit rating, it will also allow you to take advantage of supplier discounts and help with collection of outstanding debts. Because a factoring service relies on the strength and credit-worthiness of your customers, factoring companies do not need to probe into your finances like a bank to approve your funding.

Not all factoring companies are the same, with each having different underwriting criteria and with over 80 to choose from, finding the right facility can be daunting. With our expertise we will guide you through the process to ensure you have the right financing solution for your business.

Benefits of a factoring service

Features Benefits
  • Up to 90% of invoice value available immediately with the balance when the customers pay
  • Finances growth – today’s sales financing tomorrow’s growth
  • Open ended facility – Finance grows in line with sales
  • No need to sacrifice equity or pledge personal assets as security
  • We take Personal Guarantees but unsupported.
  • Immediate release of working capital in line with sales profile.
  • Improves buying power with suppliers
  • Prevents overtrading.  No need to continually renegotiate overdraft facility
  • Enables our clients to grow on average 3-4 times the rate of GDP
  • Unlocks the asset value of the sales ledger

Credit Management

  • Tailored credit control agreed with each client
  • Provides credit control, sales ledger administration and payment processing
  • Experienced credit controllers, working to get payments in promptly and support your accounts function
  • Can be cost efficient compared to employing full time staff
  • Can reduce your debt turn (time it takes your customers to pay)
  • Service built around client needs
  • Releases time and resources for sales and service
  • The right balance – invoices paid promptly and customer relationships safeguarded

Export Services

  • All services available for all major world markets
  • Funding is available in GBP £ or in the invoice currency including Euros and Dollars
  • Exporters able to offer competitive ‘buyer friendly’ open A/c trading terms
  • Ability to match currency receipts and payments to reduce exchange risk