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Invoice factoring UK

Invoice factoring UK, Factoring, Manchester, Cheshire, Lancashire

What is invoice factoring?

Invoice factoring is the immediate injection of cash against value of outstanding invoices. Also known as account receivable factoring, invoices are raised up to 90% of the invoice value is released within 24 hours, the remaining 10% is paid, less a small service fee, once invoice factoring payment is received from the customer.

  • With invoice factoring UK businesses have access to an ongoing supply of cash linked to sales.
  • Preparation and sending out statements, telephoning customers, and payment collection.
  • Management of sales ledger by chasing and collecting outstanding invoice payments from customers on businesses behalf.
  • Maintaining dedicated accounts of transactions.

Is it suitable for any business?

Invoice factoring is a form of invoice finance which is suitable for any business wishing to outsource its credit control as well as businesses not suitable for invoice discounting.

There are number of variations available within the market place and as ever different finance companies provide different levels of service. Again not all factoring companies provide the same level of service. XL Business Finance can provide an independent and free assessment.

Confidential factoring

Exactly the same as account receivable factoring but everything is confidential.

  • Confidential sales ledger management service.
  • Preparation and sending out branded company statements.
  • Chase and collect outstanding invoice payments in businesses name.
  • Telephone all customers in company’s name .

Non-recourse factoring

Exactly the same as account receivable factoring but additionally:

  • Added bad debt protection.

This provides peace of mind that the company gets paid even in the event of a customer’s insolvency or inability to pay.

Export factoring

Helps businesses to develop overseas profitability with confidence.

  • Immediate injection of cash against value of outstanding export invoices.
  • Remove hassle of dealing with overseas customers, by chasing and collecting outstanding payment from companies overseas customers.
  • Company can decide whether to use in-house multilingual team or worldwide.

Please do not hesitate to call XL Business Finance. We can help you source the most appropriate funding for your business.

Our guide to;

Invoice factoring


Factoring

 

See also

Invoice discounting

Trade Finance

Bad debt protection

Cash flow finance