Imagine if all your customers paid you tomorrow. What difference would that make to your business?
Invoice Factoring advances up to 90% of your outstanding invoices the day after your raise them. Giving you cash to pay suppliers promptly and invest in your business growth.
Invoice factoring is a service to help owner-managed businesses and we are able to source suitable facilities for young and growing businesses as well as more established companies.
Key Features:
- With Invoice Factoring you will receive advances of funds against outstanding sales invoices.
- The provider will also manage the credit control and collect the payments from your customers.
- The provider can also assist you with credit insurance for your customers and protect you from bad debts.
How it works:
- You raise and issue your invoices in the normal manner and upload your sales ledger to us via our website.
- The provider makes available to you an agreed percentage of the sales ledger (up to 90%).
- You let the provider know how much you wish to draw down and we transfer funds directly into your bank account.
- The provider then chases your customers and collect payments.
- Once a customer payment has been received we then make available the balance (10%) for you to draw down.
Charges:
Charges are comparable to bank overdraft rates. There are two charges.
- Administration Fee or service fee: Charged as a percentage of the value of the invoice or as a fixed monthly fee.
- Interest charge or factoring fee: Charged against the funds that you draw down from your funding availability.
Why deal with us?
If you are unhappy with the depersonalised banking sector, constantly changing staff and never being able to talk to anyone, then you should be talking to us. We have been established for over 12 years and we specialise in sourcing appropriate invoice finance facilities to owner-managed businesses.