Business Factoring
Business Factoring frees up cash locked up in your unpaid invoices. Business factoring companies will offer you up to 95% of the value of your invoice and will be available almost immediately. You can put your income to work now, not later.
Business factoring ensures business growth irrelevant of whether your customers have paid their bills. Touch Financial can put you in touch with factoring companies that you will suit your requirements. Factoring companies also manage your sales ledger, credit control and even collects payment from your customers, so you don’t have to.
How much cash could you release from your unpaid invoices? Get a quote online now >>
How business factoring works:
Step One: Your business supplies the goods or performs the service as agreed with your customer
Step Two: The invoice value is communicated to the business factoring company.
Step Three: The lender will then pay up to 90% of the value of the invoice as soon as 24 hours later.
Step Four: The business factoring provider will then collect the payment from your customer for you.
Step Five: After fees are deducted the business factoring provider will pay you the balance of the invoice value.
Step Six: If you have not drawn down the total amount made available to you by the lender an agreed discount charge will be debited to your account.
Benefits of business factoring?
- You’re not the company waiting for the invoices to be paid.
- You can borrow as little or as much as you like.
- The business factoring provider has to chase payment, not you.
- You don’t risk losing your assets like in some loans.
- Receive expert financial advice which is free and impartial if taken from a commercial finance broker such as Touch Financial.
- Business factoring is completely confidential so your customers need not know that you use the service.
Why use Touch Financial?
Touch Financial have formed lasting professional relationships with the UK’s leading business factoring providers. We are in a position to be able to offer you the best deal on the market, and the right deal for your business. Our consultants have all been working in the industry for many years and know just what you need. They are available to advise you without charge from 9am until late. Just pick up the phone and call them.
We know how difficult it is for a young or small business to grow when late paying customers can hold you back. Touch Financial don’t believe that your business should suffer just because a few of your customers aren’t ready to pay their bill?
Touch Financial have helped hundreds of businesses find the right finance. Let us help you free up your cash so you can keep your business ticking over smoothly now, not later.
How much cash could you release from your unpaid invoices? Get a quote online now >>
Also in this section:
- Overview of invoice factoring
- Factoring UK – Who ‘s in the loop and why
- How to find the best factoring quotes
- Benefits of a factoring service
- Factoring invoices is beneficial for young businesses
- The benefits of using business factoring
- Understanding a factoring service
