Factoring case histories
A
two year old company turning over
£200,000 that had a large exposure
into one customer approached us to
locate them a factoring facility. They told us
that they had some experience of
factoring as his parents factored
their own company's invoices with
one of the major bank owned factors
but the service they received was
poor. We arranged a meeting with a
factor renowned for the quality of
their service and having provided
them with a bagful of references to
contact, including over 20 companies
that had transferred to them from
his parent’s factoring company, they
made him the offer of a facility on
competitive terms.
Nothing should surprise us nowadays
but we were taken aback when told
that they had decided to go with his
parent’s factoring company as their
offer appeared to be cheaper by a
couple of hundred pounds per year.
As a matter of interest this
particular factor pays a higher
introductory commission than most
but we still refuse to recommend
them
Invoice
discounting is currently being used
by almost 14,000 companies
generating combined turnovers of
nearly £115 billion and it is this
method of invoice finance that is
experiencing the most growth at the
moment. Our reservations about the
activities of some invoice
discounters are as valid as in
factoring and we would be grateful
if you could click on the link to
see our areas of concern about
invoice discounting
Trade Finance is an area of business funding that co-exists alongside bank overdrafts, factoring and
invoice discounting providing specialist finance to facilitate trade and you
can read more about the types of
facilities that we can arrange by
clicking on the link for
trade finance pages
Factoring Invoices
UK
5 Torridge
Tamworth
Staffs
B77 5QL
Tel : 01827 707680
|
