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Frequently Asked Questions (click on the question to see the answer)

What funding options are available?

Lenders offer a variety of finance options which can include Factoring, Invoice Discounting, Asset-based Lending and Export Finance. Each company needs a tailored finance solution. So, determining which is most appropriaite for your business is vital.

How can factoring or invoice discounting help my business?

Either a factoring or invoice discounting facility can help the cashflow of your business by making funds available when invoices are raised rather than your having to wait until they are paid. The facility can be combined with credit insurance to protect your business against bad debts. So whether you want to reduce your dependence on an overdraft facility, to raise funds for a deposit on new equipment or, perhaps, just to improve credit control, there is a solution that can help you.

What is the difference between factoring and invoice discounting?

Both solutions will provide a flexible source of funding for your business. However, Invoice discounting allows you to retain control of your sales ledger and responsibility for collecting debts. With a factoring agreement that administrative burden is removed. Determining which is the more appropriate for your company and making the correct choice is vital.

Does it make any difference which lender I use?

No two providers are the same. You need to ensure that one is chosen which understands your requirements and provides the funding and service you expect.

How much funding is available?

This, again, will depend on individual circumstance. However, lenders generally can advance up to 90% of a Company’s outstanding debts. Your individual situation and requirements are paramount and, so, a tailored finance solution is vital.

How quickly can a facility be put in place?

It is important that the correct decision is made when arranging business finance. However, a facility can be arranged in 7 – 10 days if the circumstances require.

I am a sole-trader / a startup business. Can I obtain invoice finance?

Yes. Different lenders have different lending criteria. Many, though, provide special packages for such businesses. Again, it is important to consider your individual requirements and find the right solution.

Why not call us for a no-charge, no-obligation discussion about the finance options that are available and how these can help your business?

Contact

Ian Jones (Head of Business Development) on 0161 438 8555 or 07801 858737, or

Stephen Devonport (Business Development Manager) on 0161 438 8555

OR

email us at enquiries@factoringandinvoicediscounting.co.uk


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