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.
