Business Invoice
Factoring is an excellent and established way of raising cash very quickly.
This can make company growth much easier and also provides a safeguard
in the form of credit control. Business invoice factoring enables
you to get paid whenever you raise invoices, regardless of when the
customer pays you. Additionally, the factoring company takes on the
responsibility for chasing up the money and helps removes the uncertainty
of not knowing when you will be paid.
With business invoice
factoring, instead of waiting for customers to pay your invoices, you
send copies of these invoices to the factoring company. You can then
draw up to 90% of their value immediately. You only pay the balance
(less the factor's discount) once the factor has successfully collected
the money. There is no need to wait up to 90 days.
With business invoice
factoring the factoring company takes responsibility for getting the
payment from your customers. They're very experienced at this so the
process is extremely efficiently and professional.
Also, unlike loans
and overdrafts you do not have to put up any additional equity (such
as your home) as security. There are so many reasons why you should
consider business invoice factoring as part of your normal business
procedures.