What Is Invoice Factoring?
Managing cash flow is vital for the success of any business. Invoice factoring services release up to 100% of the value of any unpaid customer invoices quickly, within 24 hours.
To ease the pressure on your business, our factoring service team will liaise with your customers and arrange repayment of any monies owed to your business.
This can be on a confidential basis and support is available to protect you from the threat of bad debts, helping to protect your businesses bottom line and security.
How Does This Type of Business Finance Work?
To access this type of finance, you simply raise an invoice for goods or services that have been passed onto a customer.
As soon as the invoice has been raised, we will make an offer up to 100% of the invoice total and quickly release funds into your business within just 24hours.
Our team of specialists will discretely and confidentially chase and collect any outstanding payments by liaising with your clients on your behalf.
The cash your business can access grows in line with your sales.
Factoring is the perfect solution for businesses wanting quick, easy access to finance based on their growing sales performance.
What Are the Benefits of Invoice Factoring?
- Boost cash flow without saddling yourself with any debt
- Free up more of your time so you can get on with growing your business
- Limit the potential for late payment and bad debt
- Be ready to seize new opportunities
- Tale advantage of supplier discounts
Invoice factoring provides fast and efficient access to finance but with the added bonus that you do not have to worry about saddling yourself with debt.
Factoring releases the funds tied up in the unpaid invoices your company has raised and the total amount of cash available to you will grow directly in line with your sales.
All too often, businesses have great ideas on how to grow but often lack the financial resources to make the dream a reality.
Factoring helps you achieve your dreams as it will provide efficient access to funding that can be invested in the continual development of your business.
Businesses Entering New Markets
Factoring can help your business overcome payment cycles that are unpredictable such as selling goods overseas.
Factoring services provides access to finance and without the worry of having to chase monies owed as our invoice factoring services will chase outstanding monies confidentially on your businesses behalf.
Does My Business Need to Provide Any Security?
Absolutely not. Your unpaid customer invoices raised by your company are in essence, assets, so there is no requirement for you to provide any additional security to access funding.
What Is the Process to Arrange This Type of Funding?
Simply call our team in the first instance and we will be happy to have a discussion around your funding requirements.
When we have a better understanding of your business and what you are seeking to achieve, we can make sure our team provides a suitable offer for you quickly, within just 24 hours and should you provide to partner with our team we will arrange a meeting and then make payment to you.
How Long Will It Take to Arrange?
All businesses are different, even if they are in the same industry they can differ widely.
When you come to Hamilton Wood & Company for invoice factoring services, we will work as part of your team to make sure you get the funding required.
In most instances, we can deliver the funding within a couple of days depending on how quickly we can obtain the information we need from you.
What Happens If My Customer Doesn’t Honour and Pay Their Invoice?
Factoring features a recourse period typically of 90 days. The recourse period is the timeframe in which your customer has to pay the invoice.
If your customers don’t pay the invoice in this time period, funding will be withdrawn unless you have opted for our ‘bad debt protection’ service that will shield you from the risk of your customers going insolvent.
How Much Does Invoice Factoring Cost?
The total cost for this type of business funding depends on the services you wish to use and your company status as with all lines of funding.
If you would like to receive a quote to get the ball rolling and funds into your business, then please contact our specialists now.