Any search on the world wide web will reveal numerous factoring and invoice discounting companies. Some of them will be actual lenders, others will call themselves “independent” in that they are not bank owned but they are still a lender and some ae brokers. In our opinion using an invoice finance broker will save you the most time and help you obtain the most appropriate funder for your particular requirements.
However there are two types of brokers. Some of the websites you see on the net are more like like cost comparison sites and will give the business the opportunity to compare quotes. These sites will link into half a dozen factoring and invoice discounting companies and as a result you will be bombarded with calls from half a dozen companies. We are not sure how this type of service can be providing best adviser particularly when no one actually speaks with you to discuss your business.
Surely the best type of broker is the one that either has a meaningful conversation with you in order to find out about your business or even better they take time to visit. At XL Business finance we have access to all the finance companies on the cost comparison sites and far more in addition. Following an initial interview or meeting we can pinpoint the two or three most appropriate invoice finance providers. And the good news is that this service is absolutely free. If XL Business Finance makes an introduction to finance company and they take you on board as a customer a fee will be paid by the finance company to ourselves. This fee is in no way loaded to the charges paid by your selves. ALL invoice discounting and factoring companies pay the same level of fees because the broker market is one of their biggest sources of business. Therefore you can ensure you are getting totally independent viewpoint
