Managing cash flow efficiently is really a matter of life and death for a new business. If you find yourself overwhelmed with late payments and spending most of your time chasing customers for money, then factoring may be the answer.
Factoring allows us to purchase your unpaid invoices from you. We’ll give you up to 90% of the money that you are owed and will chase your debtors for payment. Once your customers do pay, we will then release the rest of the value of your invoice, minus our fee. We’ll also run credit checks and control your sales ledger for you, meaning that you can devote extra time to your company.
On the other hand, if you’d prefer to keep a close eye on your ledger and continue to monitor payment collection yourself, Invoice Discounting may be a better option. We won’t run credit checks on your behalf or manage your ledger, but we can give you a high percentage of the money owed to you almost instantly.