XL Business Finance
Follow us on Facebook Follow us on Twitter Follow us on LinkedIn

Bad debt protection/non-recourse factoring

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

Non Recourse factoring provides you with a cash flow finance solution and the added value of bad debt protection. Factoring provides an immediate injection of cash into the business and will provide a source of funding that will grow with your business. Bad debt protection provides peace of mind that you will get paid in the event of a customers’ insolvency / inability to pay. Factoring also can save valuable management time by chasing and collecting outstanding invoices on your behalf.

How does It work?

An initial injection of up to 85% of outstanding invoices is made to your business usually within 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.

Bad debt protection is provided against your invoices. Protecting business in the event of a customers inability to pay.

Not all finance companies provide bad debt protection  in the same way therefore it is important that a funder is best suited to your particular needs and requirements. XL Business Finance has over 10 years experience on helping and advising customers. The factoring company will telephone your customers, collect payments for you and maintain detailed accounts /statements of your transaction

Other features

  • A dedicated team of professionals work on your behalf. Some finance companies are better than others at this therefore it is important to choose the right factoring company.
  • Bacs payments can be made direct to you, your customers or suppliers
  • 24 hour internet access is provided

How much does it cost?

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

  • 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:


Cash flow finance