Factoring
Whether you are a limited company, sole trader,
partnership, LLP's, running your own business can be
stressful enough without the worry of cash flow. With
growing sales, this can be a huge barrier to continued success.
Traditional funding, such as bank overdrafts, and loans,
are often inflexible to cope with the cash flow demands of a growing business.
The need to renegotiate as limits are quickly exceeded can tie up time, and often attract fees.
Business management can be a juggling act, managing staff, deliveries, negotiating with
new and existing customers – all of which take
precious management time.
How does it work?
Factoring is extremely cost effective compared with other sources of finance. The interest on the amount advanced
to you is competitive with the interest charged
by banks.
However, the benefit of a Factoring facility is that it not only releases cash from your sales ledger to provide working capital, it also saves you valuable management time, as we undertake all credit management and collection work.
The savings in administration and faster customer payments means less to borrow and lower interest costs.
