blog address: http://www.factoringsolutions.co.uk/blog
I'm a factoring broker with more than a decade of experience in the factoring industry behind my back. I've worked for a big factoring company and a couple of small ones, before breaking out solo.
Since it's a really niche industry, I want to explain shortly what factoring is really about. Factoring is a type of finance that allows companies to tap into the value of their unpaid invoices.
Some invoices get paid up to two months after the the work has been done. In the meantime, the business needs to support expenditures from its own reserves. The work force, office rent, utilities, mortgage, stock, materials, etc need to be paid or the business will exhaust its resources and work might have to stop until new cash is received. Factoring and it’s variations like invoice discounting, help fill that gap by using the unpaid invoice as a tradable asset, which can be sold or lent against. Factoring companies can either buy these invoices at a discount, but transfer funds within a few days, or lend money using them as a guarantee and then discount their interest when the customer pays.
What a factoring broker does is they examine your business, and analyse your financial situation. Most businesses differ greatly from one another even in their own niche. Then the broker (me) would suggest а list of reviewed funding providers, who can provide the best funding conditions for that unique business. Finally, you will receive assistance throughout your negotiations with the factoring company, to receive the best deal possible.
If you’re interested in factoring, please find me at our website - Factoring Solutions - http://www.factoringsolutions.co.uk/, or call 01827 707680 for FREE advice. We’re independent factoring brokers with high morale and business ethics. With more than 40 years of combined experience in the industry, we know which factoring companies deliver on their promises and which do not.
We can help with:
Factoring for small business
Factoring for the construction industry
Factoring for body shops
Factoring for recruitment companies
Factoring for manufacturing plants
Invoice discounting and many more services.
keywords: factoring, invoice finance, invoice discounting, invoice factoring, factoring for sme, factoring for construction companies, factoring for recruitment companies, factoring for manufacturers
member since: Jun 09, 2016 | Viewed: 1628