XL Business Finance
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Debt factoring,

Debt factoring, Bad debt protection, Non recourse factoring, Manchester, Cheshire, Lancashire, UK
What is Debt factoring and what does it mean for your business?

Debt factoring is a service offered by banks and finance companies to release the cash which is tied up in your outstanding sales invoices. This provides immediate cash injection into your business improving cash flow and providing the business with the opportunity to. In addition, the debt factoring company can pursue any outstanding bad debts saving you the time and the cost of doing it yourself. This is usually an optional extra but protects the business in the event of a customer’s inability to pay.

How does It work?

There will be an initial injection of up to 85% of the outstanding invoices made to your business. This is usually within the first 24 hours of signing the agreement. The remaining 15% less a small service fee is paid to you when the finance company receive payment from your customer.

We have over 10 years’ experience in helping and advising customers. As debt factoring company a dedicated team of professionals work on your behalf, your customers will be telephoned, your payments collected for you and a detailed set of accounts /statements of your transaction kept.

Other features

  • There is the choice to have Bacs payments made direct to you, your customers or your suppliers
  • 24 hour internet access is provided

What are the costs?

There are two types of fees. Fees are tailored to the specific needs of your business..

  • The first is the cost of money that you use and is comparable to a bank overdraft facility.
  • The second is a service fee which is usually cheaper than a full time credit controller.

For a free without obligation quote, contact XL Business Finance today

See also:

Factoring

Cash flow finance