An invoice factoring service provides businesses in the UK with a means of raising finance by selling the debts due from their customers on a continuing basis to raise cash for working capital and for expansion. It is often preferable to a bank overdraft and for this reason factoring is a strongly growing sector of the financial market.
We are able offer a full factoring package that provides advances of up to 85% of your approved invoices together with a debt collection/sales ledger management service. The factoring service involves a quick and simple process that minimises your administration. You receive the funds you need by cheque, BACS or CHAPS, usually within 24 hours of us receiving your invoices. |
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We will arrange for you to be paid the balance of your approved invoices as soon as they are collected.In some circumstances, as an alternative to us handling the telephone collection of debts, we can provide a different type of factoring facility that allows our clients to retain this responsibility themselves if they wish (You can do the credit control). This can be for all the debts or just for selected debtors.
This facility is called CHOCS (Client Handles Own Collections).
If you are interested in our factoring service and would like us to contact you to discuss further, please fill out our contact form.
If you would like us to give you an idea of cost for our factoring service please give us some more detail via our quote form.
What is invoice factoring? (Definition)
This is the sale of accounts receivable invoices to a third party who then assumes the obligation of collecting the invoice. Factors can move quickly to get funds to a business but are usually the most expensive way to finance accounts receivable. Most factors initially pay 70% to 90% of the invoice amount followed by an additional payment when they collect the invoice. Ultimately, factors discount the invoice from 2% to 5% or more. Charterhouse Invoice finance and discounting service provide further information on their company websites
"Clients should always ensure that
they take appropriate authorised investment advice before entering
any transaction"
We work closely
with a number of leading lenders in the provision of invoice factoring
financial quotations. We will pass your quotation request to a
bank, lender or broker who will provide you with a detailed quotation.
The information we collectand pass on will not be used in conjunction
with any other purposes except for the provision of an invoice
factoring quote unless instructed to do so by yourselves.
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