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Factoring Finder

There are so many options available when it comes to factoring finance. How do you know that you are getting the best possible deal. A good factoring broker will be able to recommend the best possible finance companies for your particular circumstances.

It makes sense to see two or three providers but if you get any more in then non of the finance companies will take you seriously. You may also find that your accountant will recommend a factoring company. We think this might be quite dangerous because most accountants will only have had experience of one or two finance companies. In our opinion most auditors are like GPs. They will have a general knowledge of most financial products and services but will not be able to pinpoint the best possible funders. Going to your accountant for factoring advice could be like going to your butcher for open heart surgery!

So why can a factoring broker provide the best possible advise. A good factoring broker will know all the different finance companies and more importantly they will know their different sweet spots. Not all finance companies can beall things to all men although the banks will try and tell you they are. Take factoring for example. Certain high street banks will only chase your  top three debtors by telephone. The rest they do by post if they can be bothered at all. Other banks have their credit department , service department and collections department in different parts of the country. How can you get the best possible service? This is just one consideration that must be taken into account but I think it gets the point across quite nicely.

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