FIRSTfactor
FINANCE
0845 643 4611
Working Capital Specialists

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I WANT FACTORING

WHO WOULD YOU INTRODUCE ME TO?

We have relationships with the majority of the Factoring companies within the UK and we are totally independent, not tied to anybody. So we can compare the whole of the market. Depending on your circumstances, we can normally narrow down those Factoring or Confidential Invoice Discounting Companies most likely to be able to offer you the service that you require. Generally, we would introduce two Factoring or Confidential Invoice Discounting Companies to ensure that you are given a degree of choice and also to ensure competitive pricing. We would then take you through their terms and conditions.

We often get the feedback that the terminology used in the Factoring and Confidential Invoice Discounting sector easily leads to confusion. We would not disagree with this view. Take the various names to describe Factoring and Confidential Invoice Discounting for instance:

  • Factorisation

  • Debtor Finance

  • Receivables Finance

  • Business Finance

  • Spot Factoring

  • Spot Discounting

  • Confidential Factoring

  • CHOC’s

  • Agency Factoring

  • Agency Discounting

  • Disclosed Invoice Discounting

  • Invoice Finance

  • Sales Financing

All the services are on one level the same. Factoring Companies uses your outstanding invoices as security and are prepared to provide you with an immediate source of working capital. That is about where the main similarities finish. No two Factoring Companies criteria’s are the same. The way their administration works, how they define a acceptable debtor, sector specialism’s, ledger concentrations and calculations of available funds etc can materially affect how successfully the service would in practice work for you.

FACTORING PERSONAL SERVICE

We have access to the whole of the market

We would strongly advocate that selecting the right Factoring Company and then the right facility from the range on offer starts with understanding our clients’ needs. We start by establishing what the management’s aspirations for the business are. High growth, new markets, large new customers who could dominate the sales, export sales, contracts, moving into new sectors or geographic territories etc. We would then move onto how the current business operates, how the sales ledger is run, what makes it up and how things may change in the future. We would then establish the intricacies of our clients business, like the sector they operate within e.g. does it have self-billing, extended terms, contra trading, constructive delivery, direct deliveries, double retention of title, JCT terms etc.

After we have established the needs and operating cycles of our client we can then suggest the right profile of Factoring Company and which facility would be most appropriate. Our team have combined over 60 year’s experience of the Factoring and Confidential Invoice Discounting sector. We have experience of the largest down to the smallest Factoring providers both in the UK and throughout Europe.

We have been providing Factoring and Invoice Discounting advisory services as Independent Brokers since 2003. We have access to the whole of the market and are not tied to any lenders. Unfortunately, this cannot be said for all advisors in this sector as Factoring and Invoice Discounting remains completely unregulated.

We have the luxury of comparing the whole of the Factoring and Invoice discounting market when recommending a solution for our clients. We know the Factoring Companies that deliver on their promises and the ones that provide sector specialism’s. Conversely, we know the Factoring Companies who say they are flexible if something is required outside the norm but the harsh realities are, there is a difference between what the sales representative says and what the operations staff do. We mention this because all too frequently are asked by other Professional Advisors, Accounts and Lawyers etc to assist their clients who have a Factoring facility that is not working as well as they would have expected and could we recommend other suppliers.

COMPARE THE WHOLE FACTORING MARKET

Compare invoice finance quotes online

We have access to High Street Bank Factoring providers through to very specialist Independent Companies. Companies that only expect full sales ledgers through to Companies that are perfectly happy with single one-off invoices. Over the years we have built up strong relationships with the UK’s leading Factoring, this ensures we have access to the very best deals around often unadvertised. Factoring Companies appreciate that we will not waste their time with propositions that have no chance of getting off the ground. For this reason, they consider any deal we put forward to them, with the understanding that it has been pre-vetted for suitability and carries our recommendation.

Independent Factoring Companies can offer a more personalised approach and some feel that as they gain their customers through personal recommendations, they have to work harder to get new customers which leads to a better service.

Our methodology is to listen, advise and then make a recommendation backed-up with tangible reasons and recommendations tailored to your requirements. But when presented with the Factoring choices its up to you. We do not baffle with industry jargon. We actively work to remove any mystique putting you in a truly informed position.

INDEPENDENT FACTORING BROKER

A stress-free service from an independent factoring broker

We are a team of Factoring and Invoice Discounting professionals. You are in safe and experienced hands. We are not tied to any other organisation, Factoring Companies or otherwise. But not all Factoring or Confidential Invoice Discounting Brokers can boast the same. The Factoring and Confidential Invoice Discounting sector is completing unregulated.

We are not “lead generates” or “Jack of all trades”. We are Factoring specialists. Rather than approaching the 60 plus Factoring and Confidential Invoice Discounting Companies in the UK yourself, call us and we will use our industry connections to find you a great deal.

For a free, no obligation conversation about your Factoring needs please call Tony Platts.