Factoring for Start-ups
Factoring for Growth
Businesses are likely to experience their steepest growth curve while they are young. Because of that, demands on your cash flow are particularly strong while your business is in that phase of its development.
However, traditional funding (such as bank overdrafts and loans) is often too inflexible to cope with the needs of your young and growing business. The need to renegotiate as limits are quickly exceeded can be cumbersome, can tie up time, and often attracts additional costs and fees.
Our factoring product can help! The factoring facility grows in line with your sales, and you don't usually need to use personal assets as security.
Our factoring solutions are designed for businesses with a turnover greater than £100,000.
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.
