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
Tags: Factoring, invoice factoring
