It makes sense to use a reputable and well established factoring broker. They will undoubtedly find you the best option which will be invaluable when it comes to choosing the right factoring and invoice discounting company for your business.
Unlike asset finance specialists where commission is added into the deal, the factoring broker is paid by the factoring or invoice discounting company from the income they would normally charge.
There are some important factors that need to be taken into account when choosing the right finance company. The biggest factor is to identify whether your business requires factoring or invoice discounting. Not all funders are equally specialised in factoring and invoice discounting. In fact some may just concentrate on one aspect of funding. The size and length your business has been trading needs also to be taken into consideration. High street banks are not always the most appropriate funder.
XL Business finance is one of the North of England’s premier independent finance companies with established links to many of the UK’s leading finance houses. Call us today, we are happy to discuss your specific situation.
