What is CHOCS Invoice Factoring?

CHOCS (Client Handles Own Collections Service) is a type of Invoice Factoring that allows you to undertake your own debt-chasing work, whilst Skipton Business Finance provides finance against the value of your sales ledger and invoices.

This way you get the cash benefits of an Invoice Factoring solution, but your established and well-oiled credit-control team isn’t disrupted and is able to chase debts and function as normal.

CHOCS is almost like a hybrid of Invoice Factoring and Invoice Discounting. It’s a disclosed (non-confidential) facility, like Factoring, but with a CHOCs facility you continue to handle your own credit control, like Invoice Discounting. With this facility, you chase your customers for payment and use your own credit control processes.


How do CHOCS facilities work?

Here at Skipton Business Finance, we truly believe that cashflow is the lifeline of any business. That’s why our Invoice Factoring solutions will release up to 90% of the value of your invoices. This allows you to keep control of debt collecting, giving you the responsibility of managing credit control function for your business.

Why wait 30, 60 or even 90 days for your customers to pay your invoices. With a CHOCS Invoice Factoring solution from Skipton Business Finance, we can fund your business quickly to help you move in the right direction.

A CHOCS Invoice Factoring solution is a disclosed Factoring agreement, where your business maintains full responsibility for credit control rather than passing it to us.

The remaining 10% will also be made available when your customers pay!


The Benefits of CHOCS Invoice Factoring

CHOCs is suitable if you’d like to maintain a direct relationship with your client. By choosing to take out a CHOCS solution with Skipton Business Finance, you also access additional benefits you may not find with banks or other financial providers. For example, because we are a subsidiary of the Skipton Group, the UK's fourth largest mutual, we have no expensive shareholder dividends and can therefore focus on understanding our client’s businesses. This means we share an ethos of a people first approach, and many businesses stay with us for years, entrusting us with all of their financial needs. We take enormous pride in seeing your business grow and helping along the way.