Invoice Factoring or a Bank Overdraft?
- 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 solution 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 gives 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.