How could factoring help my business?

factoring (fak-ter-ring) – One of the oldest, most common kinds of business finance.

Your Cash Flow

The greatest advantage to factoring is the ability to improve the flow of cash into your business. Get cash quickly with an upfront advance of up to 80% of your invoice value and before it is due to be paid, nullifying the need for you to wait 30, 45, 60 days or longer for payment. Consider what you could do with your business without the headache of crippling late customer payments.

Your Time

Leaving us to professionally handle the collection of your sales ledger allows you time to concentrate on what you are good at – which is running and managing your business. Our philosophy is to build a regular and close working relationship with your customer’s accounts departments. Our extensive industry experience shows that this often ensures prompt payment from your customers. Furthermore, outsourcing your credit control to Redd offers you the chance to possibly move staff into other areas of your business – or maybe even consider ceasing your internal credit control function altogether.

Your Risk

We will always endeavour to minimise financial risk to your business. Our team of expert client managers have many years’ experience in debt collection, and our personal approach to credit control enables us to spot the tell-tale signs of a customer with potential cash-flow issues. Nobody wants to lose out to a ‘bad debt’, so we conduct a free of charge credit search on all customer accounts – and your customers’ credit ratings are something we play close attention to on a daily basis.

Your Business Growth

Having a healthier bank balance will allow you to have the funds in place to take on more work, to keep on top of supplier payments or to try and negotiate better prices from your suppliers. You will be able to make decisions safe in the knowledge you will be backed by a facility at Redd that will expand to keep pace with your company’s growth – whether you might want to invest in new machinery to increase capacity or hire new members of staff with bright, new ideas or to spend wisely on a sales or marketing campaign. Once on the path to steady growth you will need Redd Factors less and less. And that point, we feel we will have done our job.

We’re here to help

Contact us today for a no obligation discussion and find out how we can help your business succeed.