Invoice Factoring or a Bank Overdraft?

Best Invoice Factoring & Invoice Discounting Provider 2014
We understand that the main problem with an overdraft is that it is repayable on demand and can be withdrawn at anytime.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. 
  • It generates more cash than an overdraft – usually twice as much
  • Less personal security is required meaning there is no need to put up your home as security
  • The facility is linked to your sales, not your historic balance sheet and will therefore grow with your business - meaning you don’t have to keep going back to the bank asking for more!
  • It’s not based on historic balance sheet performance and therefore is suitable for businesses in a turnaround or highly geared
  • Financial stability is more certain, as agreements are for a fixed period and are not repayable on demand
  • With Invoice Factoring, you can confidentially outsource management of your entire sales ledger to Skipton Business Finance via our award-winning My White Label solution saving you both time and costs and helping avoid those difficult calls when chasing customers for payment

Invoice 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 Invoice Factoring?

Invoice Factoring is a flexible cashflow solution,which advances money to a company as it issues new invoices and is one of the most common forms of invoice finance in the UK.

For more information on what invoice factoring is and how it can work for your business, please go to our Invoice Factoring section.

Want to know more about Invoice Finance v a Bank Overdraft?

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 visit our blog section.

Contact us today!

We would be delighted to help structure a invoice finance solution that fits perfectly around your business, with both Invoice Factoring and Invoice Discounting facilities able to unlock your cashflow.

You can get in touch by ringing us on 01756 694933 or emailing us at info@skiptonbf.co.uk. Or why not utilise the handy form on the right and we’ll call you back with all the information you need!