Factoring is a working capital facility where your business sells its invoices (Book Debts) to the Factor for up to 90% of the gross invoice value.
The benefits of this product are:
- You can generate more funding than traditional banking facilities as your facility is linked to actual sales. The facility can grow with your turnover
- You get paid when invoices are raised, not 30, 60 or 90 days later
- You can either outsource or retain your credit control and sales ledger functions
- You can be protected against bad debts (if required)
- You will be advised on the creditworthiness of your customers
This product is ideal for new start businesses or phoenix companies
Please contact us to discuss your requirements in more detail.