What is Factoring Services Derby?

You may be thinking “What is Factoring Services Derby – and how can it be beneficial for my business? You simply sell your invoices, minus a small fee to an invoice factoring company. The invoice finance company will carry out due diligence, and then advance up to 95% of the invoice, providing immediate cash flow for you to use for your business needs. Whilst clawing back some of your free time as you don’t have to chase customer payments.

invoice factoring company

Key Features

Receive up to 95% of your sales invoice

With Factoring services Derby, approval is quick and easy. In most cases you can get paid for your invoices in 24 hours

Improves personal wellbeing
Invoice Factoring helps reduce payroll stress, giving you access to cash to meet weekly, or monthly payroll commitments.

Forward planning for success
Want to replenish stock? Factoring Services Derby will mean no more waiting for your customers payments, allowing you to purchase supplies.

Supporting you and your business
The lender takes over the running of your credit control, a dedicated team of experienced professionals, who will manage your collections, reducing late payments and the risk of bad debts.

Your invoice factoring company grows with you
The last thing a growing business needs is to incur more debt. Factoring services Derby allows you to get the capital you need when you need it, and grows as your business grows, without takin on a loan.

Costs versus Benefits
When considering the cost of invoice factoring. It is important to review the benefits invoice factoring provides to businesses. Remember to always consider your own business situation and goals.

business factoring

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How does Invoicing Factoring Work?

Businesses that are using invoice finance do not have to wait for their customers to pay their invoices for them to pay suppliers, staff, and other overheads. Invoice Finance lenders will purchase your invoice and collect the payments from your customers. You do the work, sell the invoice, and typically get up to 95% of the invoice value immediately. Once they have received payment from your customer, they will send you the remaining balance, minus their fees and any other charges.

Asset based lending

Simple Guide:

1. You process the invoice to your clients
Provide your service or product, on your agreed terms.

2. Flexibility in the Invoices you sell
You can tailor your facility to gain funding from one invoice, multiple or your whole sales ledger. The Invoice Factoring Company will purchase the debt that has been agreed with you.

3. Receive up to 95% upfront
Most lenders will allow you to receive up to 95% of your invoice value

4. Cash Collection
The Invoice Finance company will manage credit control, and your customer pays the invoice factoring company directly

5. Receive final balance
Once payment has been received, the balance, minus and fees and charges will be made available to you.

Invoice Factoring Costs

Factoring services Derby and the costs involved vary from business to business. It is important that you understand the Invoice Factoring Costs associated with running an invoice factoring facility.

Application / Commitment Cost

Some lenders will charge a fee to carry out due diligence, and some do not.

Service Fee

The Invoice Factoring Costs will include a Service Fee for the day to day administration of the facility charged as a percentage of the gross invoice value.

Is invoice factoring the right solution for your business?

Invoice factoring is a viable funding solution for many business sectors including, Haulage, Recruitment, Manufacturing and many more.

Business owners are great at making their product and providing their service. Cashflow will always be ‘king’, and with Factoring Services Derby the pain, headache or worry about cash is taken away.

Invoice Factoring gives business owners, the opportunity to access cash from invoices but also the gift of time. The time you or your team spend managing your credit control. You can focus instead on achieving your business goals without the cashflow problems you were experiencing before invoice factoring.

Are you looking for cash unlocked from your invoices? Factoring services Derby could the right funding solution for you.

Get in touch today, or call us on 01332 896 020