Looking For A Factoring Company?

There’s generally one reason for a business to decide that it wants to start using a factoring company. It needs to improve its cash flow situation. This may be the single most important  reason, but there are a great number of options about how it can be achieved.

As well as approaching the big banks, all of which offer factoring services, or larger independents who may offer greater flexibility, businesses also have the choice of a wide number of smaller “boutique” lenders.

Generally more geared towards smaller companies, these tend to offer a more personal and adaptable service. There is also more likely to be a closer relationship between lender and business.

Many also believe that a smaller factoring company will deal more sensitively when trying to secure payment from customers – and that customers may not feel quite as intimidated as they would if one of the big banks  were chasing them.

Touch Financial work with over 20 of the UK’s leading lenders, which includes big banks as well as boutique lenders. Whilst the boutique lenders do not meet the requirements of all businesses, they still have a valuable role to play as they generally have good service levels and a more personal service which isn’t sometimes conveyed by the big banks.

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Overview of boutique lenders

Here is a quick look at four of the boutique lenders Touch have on our panel of lenders:

• IGF is one of the top independent commercial finance providers in the UK today with clients  ranging from company start-ups and businesses with multi-million pound turnovers. It’s part of the Greater London Enterprise Group of Companies, an economic development and investment company owned by the London Boroughs. It specialises in offering tailormade solutions for businesses of every kind.

• Regency Factors was established in 1990 and is mainly used by small companies planning for rapid expansion. The company philosophy is that their clients’ success will bring them more income so they are committed to providing an excellent service in order to retain those clients. They also offer the option of factoring only a proportion of total turnover and never charge interest on advances.

• Ashley Commercial Finance has over 200 clients in every sector from haulage to printing and from recruitment to IT companies. Like Regency Factors, they too allow you to choose which of your customers you would like them to deal with. So, for example, you would not have to use their service for your customers who pay promptly. They are also more than willing to deal with businesses with a poor credit history or weak accounts.

• Gener8 Finance is based in Oxfordshire and has a client base centred on the South and the Midlands. They specialise in helping businesses with a turnover of under £5 million. Like most of the smaller boutique lenders, flexibility is the watchword along with personal service and attention.

Finding a factoring company with Touch Financial

When looking for a boutique-style lender, the more personal nature of the relationship means that the fit needs to be even better between the two parties. In these situations Touch Financial can be the ideal matchmaker with our in-depth knowledge of the lenders and the information we have about the business looking for the service.  When you use Touch Financial you can also benefit from a wide range of advantages:

• Our service is FREE. Our income is derived from the commission we receive from a factoring company for making successful introductions.

• Our advice is independent and impartial so we will only ever recommend the best options for your business.

• We have long-standing links with more than 20 of the leading invoice finance lenders throughout the including the boutique lenders featured above.

• Our service is fast – we endeavour to return quotes to you on the same working day.

• We have access to exclusive offers and rates with lenders which are not available anywhere else

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Also in this section:

• Looking for a factoring company?
• Factoring company UK - Finding the best deal
• Invoice finance broker and lenders
• Invoice discounting company - The high street banks
• Overview of the independent invoice factoring companies
  
• The role of an accounts receivable factoring company