Factoring for Established Businesses
Why factor? Ask yourself - how could you improve your business?
Your answers will be numerous:
- Expand current operations
- Upgrade plant and machinery
- Employ extra staff to seek out and fulfil new orders
- Increase sales and marketing efforts
- Develop new products
- Take advantage of supplier discounts by paying early
All of these improvement opportunities have one thing in common: they require cash. This is where factoring from Lloyds TSB Commercial Finance can help. We can release the funds locked up in your outstanding sales invoices.
How factoring works
With our factoring product, you will receive advances of funds against outstanding sales invoices. You inform us electronically or by post that you have issued an invoice. Up to 90% of the value of your invoices can be paid out within 24 hours of raising them. The balance is made available when your customers settle their outstanding debts.
Our factoring service can also provide credit management releasing valuable time for your business. Having agreed procedures with you, statements and reminder notices would be sent to customers reminding them of outstanding debts. You will remain in control of your customer relationships at all times.
To reinforce our position as the UK's number one provider of factoring we offer this service pledge: If at the end of the initial 6 months you are dissatisfied with our service, you may claim a refund of the Service Fee paid during that period. All we ask is the opportunity to resolve any concerns that may occur during this time.
Review these factoring case studies to see how we have helped other businesses.
What is the next step?
To discover how effective factoring could be for you, you may obtain a no-obligation instant quote online. We will then arrange for a Regional Manager to give you a call to answer any questions you may have and to discuss your situation.
