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There are many forms of  products available and XL Business finance as an independent factoring company has been advising clients for many years. Whether you are looking to switch to another factoring company or you are considering using factoring for the first time XL Business Finance can provide free and impartial advice to you and your business.

Quite often we get asked to asses an existing facility and quite often we recommend that the client stays where they are. We are great believers that if it isn’t broken then don’t try to fix it. However we do believe that invoice  factoring for a small business is  very specialist market. What is the point of going to a high street bank if your turnover is only a couple of hundred thousand a year. You will be lost in a great big institution where you wont be able to speak with a decision maker and your business will be too small for anyone to care.

The good news however that there are a number of smaller independent factoring companies that specialising in serving the smaller end of the market. Their ethos is purely customer service driven and they are able to help you in a way that will seem like a breath of fresh air compared with the high street banks. These finance companies can be completely regionalized so to find out which one near you sis best for your business give us a call

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Invoice factoring need not only be for businesses with hundreds of thousands of turnover. XL Business Finance is helping businesses with turnover as low as £100,000 obtain finance from the most appropriate finance company.  

With a turnover as low as £100,000 it is very unlikely that a business will obtain confidential invoice discounting, however it may be possible to obtain a soft touch factoring facility. Not all finance companies will provide such a service so it is important that you take advice from a reputable and knowledgeable factoring broker.  A soft touch factoring facility will enable a business to maintain the majority of their credit control however the factoring will be provided on a disclosed basis and as such your customer will be aware of the factoring companies involvement.

If a full factoring service is required it is important that the most suitable finance company is chosen for your particular needs. Factoring provides a full credit control service and debt collection and as such it is very much a value added service.  As with any value added product you tend to get what you pay for.  The biggest comp-laint we hear about is the inability of certain financial institutions to collect money. What is the point of saving a few quid a month if you are not getting a proper service. Flexibility, a full on credit control service and the ability to pick up the phone and have a conversation with a decision maker is the key to a successful factoring relationship.

XL Business Finance is one of the UK’s top factoring specialist and has been advising clients on various financial solutions for over ten years