Call Factoring Solutions on: 01827707680
5 Torridge, Hockley, Tamworth, Staffordshire
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Factoring Solutions is an independent broker for factoring companies and invoice finance services. We work with businesses and introduce them to invoice finance companies that fit their business needs. We find you real solutions to your invoice finance problems. Being impartial of any financial institutions we work in the best interest of YOUR needs, to BANKs needs.
What is invoice finance ? This is a form of finance where funds are lent against the value of the invoices your clients haven't paid yet. Usually, it takes 30 to 90 days for customers to pay invoices to their vendors. However, during that time, you still have expenses that would demand payment - staff salary, funds for new stock or materials purchased, rent on your business shop, bills to utility companies, mortgages or business loans. Without the new payments, it might be hard for you to cover your own. This is where invoice finance comes. By factoring your invoices right after you send them to your customers, you can almost immediately access their locked funds and continue your business operations smoothly.
How is invoice finance different than a bank loan ? The major difference with traditional bank loans is that banks consider the background and credit check of the person or business they are lending to. Factoring companies consider the background and credit check of the client who has to pay the given invoice. This means that even if you and your business are in the rough, if your clients are reputable and have a good credit history, you're very much likely to get funded.
How does factoring work ? When you send an invoice to your client, you also send an invoice to your factoring company. They will usually transfer you money equal to 75% up to 90% of the values of your invoice. They will then handle sales ledger and credit control for you, leaving you free to put those 75% to good use. When the client pays the invoice, the factoring company will deduct their flat fees, plus interest gained if payment is excessively delayed. The rest is also paid into your bank account.
Why choose us ? Like all aspects of business, there are many services and products that promise you all sorts of business growth and benefits. Rarely though are they the hidden gem of the industry. At Factoring Solutions, we pride ourselves with over 40 years in the factoring industry. We've seen and evaluated the work of countless finance providers, including the UK's finest in the field. We know exactly which companies provide up to their promise and which ones are driven by gain. We don't have any ties with financial institutions, we work in the best interest of businesses. We believe that doing good business has positive long term benefits for everybody. Our service is free for business owners. Instead, we get compensated by the companies we introduce you to. Let us help you make the right decision for your enterprise. Call us on: 01827 707680