Invoice Discounting and Factoring
Never worry about late paying customers again!
We’ve all got them. Customers who pay well but who take anywhere between 30 to 90 days to settle their accounts. These types of customers are valued but they clog up your cash flow. You could have the best month ever. But ultimately, with customers like these, you won’t see that payment for quite some time.
Invoice Discounting and Factoring companies solve this problem. By submitting your invoice, you receive a good proportion of your balance up front. The Factoring company takes on the invoice and ensures it gets paid.
In the meantime, you get a large proportion of the balance back in your bank account straightaway. The rest arrives when your client pays, minus the factoring fee. All of which frees up your cash flow.
Where we can help is setting you up with the right company.
Sadly, the industry is notorious for saying they can take you on (usually to fulfil sales quotas). When you sit down with them, however, it’s common to find yourself precluded for one reason or another. Which is frustrating for you (and a huge waste of your time).
We listen to what you need, whether it’s funding for just one customer, or even just one invoice. You might even want to replace a £1m facility that no longer meets your cash needs.
Either way, you avoid the pain of sitting through meetings with lenders who can or can’t assist. In short, we get you the cash when you need it. And with the least amount of fuss.
Bad debt protection can be provided against one or all your customers. So, you pay a small incremental fee on every invoice. Then if your client goes ‘bump’ and is unable to pay, you have the insurance to pay the factoring company back.
What’s brilliant about this is you get peace of mind. Because you know you’re protected from the unknown, you’re much more able to sleep at night.