- Factoring can provide you with twice as much cash as an overdraft
- A factoring facility will grow with your business
- There is no need to put up your home as security
- With Factoring, you can outsource management of your entire sales ledger saving you both time and costs
We understand that the main problem with an overdraft is that it is repayable on demand and can be withdrawn at anytime. Also, the limit is usually fixed and, should more be required, the client generally has to go through the whole process again resulting in more time and cost.
Factoring is safer and more flexible
Factoring provides a much safer and more flexible funding solution for many SMEs simply by providing certainty of contract (i.e. not repayable on demand) and increased funding linked to sales and not the historic financial performance.
What is Factoring?
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. For more information on what factoring is and how it can work for your business, please go to our factoring section.
Factoring - Want to find out more?
Go to our factoring page now and find out more about the facility.
Want to know more about Invoice Finance?
If you would like to read a more comprehensive article on why we feel invoice finance is so much more beneficial to your business than a traditional overdraft, please go to our blog section.
The amount of cash funded through invoice finance lending solutions such as factoring or invoice discounting rose by 22% between 2006 and 2010 and the asset-based lending industry as a whole grew by 11% in 2010.
Get in touch with us today!
Feel free to give our award-winning team a call on 0845 602 9354 and find out more about how our flexible invoice finance solutions, such as factoring and invoice discounting can assist your business.
