How does invoice factoring work?
Welcome to our first animated video providing an introduction into who we are at Touch Financial and how we can help your business. If you have arrived here asking yourself “how does factoring work?” this introductory video should provide you with a taster of how our invoice finance products (including invoice factoring and invoice discounting) could benefit your business.
If you find any of the information in the video interesting, or want to learn more about how factoring works, please give us a call on 0845 388 9725 for a free, no obligation chat about your funding options.
What is Invoice Finance?
Invoice finance is one of our favourite alternative funding products as it facilitates business growth.
Your business for instance, may have 60 day payment terms with your business clients. This means that you are usually waiting over 60 days before you receive the cash you have rightly already earned from providing your product or service. Invoice finance recognises that you are due payment in 60 days’ time and provides you with a cash sum based on the value of the invoice within 24 hours of invoice creation.
Invoice finance works with payment terms from 14 to 120 days and has numerous other add-on services such as credit collection, confidentiality and payroll support if you are in the recruitment services game.
How can Touch Financial Help?
Not only can we help provide you with all of the knowledge you need on invoice finance, we will also use our panel of over 30 of the UK’s leading invoice finance lenders to find you the most suitable lender and a competitive deal.
We are the invoice finance specialists and your business funding partners – all free of charge. Click on the quote form button below to get speaking with a consultant for a no obligation chat about your options.
This is likely not to be the last explainer video we produce so keep a look out for more factoring tutorial videos by following us on social media.