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Invoice Factoring - The best decision you'll ever make...

Imagine the benefits to your business if all your customers paid you within 24 hours. Now, imagine a dedicated, outsourced credit control function sending monthly statements to your customers and building up a relationship with the people that matter to facilitate faster payment. That's the power of Invoice Factoring.

With an Invoice Factoring solution from Skipton Business Finance, you get access to the working capital that you need to grow your business on the day you raise the invoice. 

 

We have a unique approach to financing your business.

Invoice factoring is a working capital facility that utilises your company's outstanding invoices as a way of improving your cash flow and revenue stability.

Your Invoice Factoring facility grows as your business grows, allowing you the time to focus on delivering a world-class product or service to your clients. You will be supported by a dedicated Relationship Manager who truly understands your business and is empowered to make the decisions you need to make your business a success. Unlike a bank overdraft which can be limited and constricting our Invoice Finance solutions provide much-needed flexibility. 

With an Invoice Factoring solution from Skipton Business Finance, you can get your well-earned money straight away.

Skipton Business Finance offers a unique approach to business finance. Our flexible solutions grow with your business, instead of constantly having to re-apply and go through the rigmarole every time your finance needs change like you would with a bank, you call your dedicated account manager (directly - meaning no call centre waits) who is already well versed with your business and simply change your finance solution.

How does Invoice Factoring work?

Instead of waiting for all your customers to pay you, by using Invoice Factoring, you’re able to receive funds up to the value of 90% of your unpaid sales invoices. Payments from your customers will go into a bank account controlled by Skipton Business Finance and your customers will be aware that you use Factoring. 

Our experienced and professional credit control team will then take the responsibility for securing the payments from your valued customers. The remaining 10% is then advanced to you upon payment from your customer, less our agreed service fee.

Simply put: 

  • You provide goods or services to your customers in the normal way.
  • You invoice your customers for those goods or services.
  • You notify Skipton Business Finance every time you raise an invoice. We pay the bulk of the invoiced amount immediately, typically up to 90% of the value. 

Invoice Factoring provides benefits beyond a great cashflow

  • Immediate access to up to 90% of your invoices the day you complete the work
  • As your business grows, so does your facility
  • Professional Credit Control 
  • Dedicated Relationship Manager 
  • Overpayments available to help with the smooth running of your business
  • Fast decision-making 
  • Free credit reports on your customers to help you make informed decisions
  • Award-winning service levels

Using your cashflow fuel to take your business to the next level

Here are some examples of how business owners can make use of improved cashflow from Invoice Factoring:

  • Release much needed working capital the instant you raise an invoice
  • Accelerate your strategic aims
  • Hire the best talent to take your business forward
  • Take advantage of early payment discounts from suppliers
  • Keep on top on HMRC payments 
  • The ability to take advantage of opportunities in your marketplace
  • Acquisitions or Management Buyouts
  • No more awkward conversations with the Bank Manager
  • Wave goodbye to Call Centres and say hello to a dedicated Relationship Manager

Here are some examples of what business owners have used Invoice Factoring for...

  • Making Payroll in Slower Times
  • Staffing and Hiring New Employees
  • Investing in Marketing & Advertising
  • Paying Rent and Reoccurring Bills
  • Collecting Funds Faster For Unpaid Invoices
  • Buying More Inventory To Increase Margin
  • Buying Materials For Projects
  • Buying New Equipment

Caring for our clients

Forget automated telephone systems asking you what you want in order to put you through to the right person, you'll have direct access to your very own Relationship Manager, dedicated to helping your business thrive. 

When we say that we offer a personal service, we really mean it.