Factoring - What is it?
Factoring is a flexible cash flow solution, which advances money to a company as it issues new invoices. Factoring is probably the most common form of invoice finance in the UK.
How does Factoring work?
Here at Skipton Business Finance we truly believe that cash flow is the lifeline of any business. Instead of waiting for all your customers to pay you, we will purchase your sales ledger up to the value of 100% and immediately advance the funds directly to you. There are many different types of factoring and our personable approach will always mean that you get the right factoring facility tailored to your business.
What are the benefits of Factoring?
You can wave goodbye to waiting for 30 or even 120 days for your customer to pay! Our experienced and professional team will then take the responsibility for securing the payments from your valuable customers. Not only will you have the peace of mind that those customers are being dealt with by an industry leading credit control team, but our fast and efficient service means that you can have access to funds in as little as 48 hours.
Considering that we pride ourselves in our flexibility, you can be assured that the factoring facility you’ll receive will be bespoke to your business and, more importantly, customised to how your business then grows.
If you’re looking for a factoring solution that offers fast, flexible funding, but with a personal touch, Skipton Business Finance can help.
Your business is unique to us
Our experienced team adopt a commercial approach to underwriting, putting your people and business at the forefront of our decision-making process. We never use a system-style scorecard and make each decision based on the individual merits of each and every business.
And the benefits don't stop there. When you become a client of ours you'll be pleased to know that we boast an extremely low client-to-staff ratio meaning that not only will you always get direct access to the decision makers, but our specialised Relationship Managers can offer you the time and focus you need.
This means that the factoring facility we can provide you is set up in a completely different way to our competitors.
In 2010, there were 18,894 businesses in the UK that were actively using factoring facilities making it the most popular form of invoice finance in the country.
Get in touch with us!
It’s easier than you think to unlock the money you have tied up in unpaid invoices by starting a factoring facility with us. Just call us on 0845 602 9354 and one of our award-winning team will be able to guide you through the process.
