Factoring and invoice discounting is a very competitive field. Not all companies are the same. Services and charges vary greatly, so carefully selection of the factor that best fits the company's situation and financial needs is critical. Key consideration factors when choosing a factor/discounter.
As companies are selective when choosing a factor, factors are just as selective when approving clients. Companies that are labeled as unacceptable clients by some factors are perfectly acceptable to others. Some factors require the total sales ledger whist others are pleased to fund specific debtors. Some factors and discounters are focusing on sectors and developing specific products.
There are over 80 companies providing factoring and invoice discounting services throughout the UK ranging from independent firms, listed and AIM listed companies, merchant banks, finance houses, foreign banks, asset finance companies, cooperatives and high street banks all having their own lending criteria.
Factoring can be particularly valuable for companies with growth potential, but who need an accelerated cash flow to realise that potential. It is additionally valuable for firms that are seeking new ways to reduce their amount of administration and bad debts.
With our extensive industry experience we can consider your needs and provide you with a range of suitable providers. We can then guide you through the process getting the right product for you turning sales and marketing jargon into plain English.
We provide free independent advice contact us.
You are welcome to make full use of the free online services on this site. However to obtain access to the full site we do require you to register.