Business factoring
Smooth financial planning and realising ambitions to expand your operation can prove a challenge if most of your time is spent balancing outstanding invoices against paying those who supply your business. Factoring offers an efficient and innovative solution to this common problem.
What is business factoring?
All customer invoicing is outsourced to a third party who will provide funds, in the form of a flexible loan, proportionate to the value of the invoice.
Business factoring allows funds to be released within as little as 24 hours, solving the problem of how to keep your suppliers paid and maintain your ability to fulfil orders.
Credit management is also an integral part of any business factoring service, so chasing debtors and ensuring customers pay on time is no longer a concern for your accounting department.
Business factoring for expansion
Any plans to expand an operation rely heavily on predictable finances and, when the time it will take to receive payment for goods or services provided is an unknown, this is a very difficult task. Business factoring negates this issue, as cash from any sale you make will be immediately provided to the business.
Without tying up your accounting function chasing overdue payments and negotiating with your suppliers, their time can be invested in the work required to prepare and implement expansion plans.
Companies who feel that their current ambitions are being hampered by time and money tied-up in chasing and processing invoices, business factoring is a flexible financing solution that could offer the ability to move to the next level.
Get an instant online quote now and find out if you could benefit from business factoring.
Lloyds TSB Commercial Finance Factoring Guide
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- Factoring advantages and considerations
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