2009

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    Overdraft Compared With Factoring Calculator Released

    We have just released our latest free calculator that compares the costs and benefits of using bank overdraft with those of using factoring....

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    Calculator Comparing Overdraft Costs with Factoring

    The Factoring Cost Savings Calculator we put up that showed the cost benefits that could be achieved by using Factoring and offsetting the costs against the savings that could be made in terms of credit control staff and supplier discounts - has proved popular and has already been viewed a number of times by visitors to our site.We are now working on a similar calculator that will compare those...

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    Factoring Cost Savings Calculator Released

    Factoring clients often focus just on the cost of the facility without considering the cost savings that are possible. We have just put together a new Factoring Cost Savings Calculator which can be downloaded in Excel 2003.It allows users to enter their business' details and find out how much they might save through using a factoring facility....

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    Cattles Invoice Finance relaunched as Absolute Invoice Finance

    It has been reported that Cattles plc have now completed the sale of their invoice financing arm, Cattles Invoice Finance to AnaCap Financial Partners. This puts an end to all the speculation about Cattles Invoice Finance and puts them in a superb position to drive their business forward, under their new brand which is Absolute Invoice Finance....

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    Is It Time for a Code of Practice for Invoice Finance Companies?

    A recent issue with a client of a bank owned factoring company led me to investigate the existence of any code of practice, either compulsory or voluntary, that would govern the actions of the invoice finance company and potentially assist the client if it was not being followed.However, there seems to be no published code of conduct available against which an invoice finance provider's actions...

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    Cattles Invoice Finance Sale Agreed

    Recent reports are that Cattles plc have now agreed terms with AnaCap Financial Partners for the conditional sale of Cattle's invoice financing arm, Cattles Invoice Finance. This could be good news for Cattles Invoice Finance as it puts an end to months of speculation about the disposal of their factoring and invoice discounting arm and the uncertainety that has resulted....

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    Online Monitoring of Debt Collection

    One of the providers that we deal with that supply debt collection services, in respect of businesses or consumers that have unpaid invoices, recently demonstrated their automated debt collection system to us. It allows you to see exactly what is going on regarding the collection of your outstanding invoices, via their online interface, and if the debtor raises any kind of dispute the software...

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    Latest ABFA Factoring & Invoice Discounting Statistics

    The latest Asset Based Finance Association (ABFA) statistics have been published for Q1 2009.They show reductions in the amount of funds provided and contractions in client turnover but they also show a reduction of c. 3% in the actual number of clients across the members.The invoice finance market is tough but we are still seeing growth in our own client book, indeed having recently had our best...

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    Is Cheap Factoring Always Best Factoring?

    It is interesting to note that we have had a number of enquries recently from businesses who already use factoring and are looking to change providers but NOT in order to save on cost. What we have noticed about some of these recent factoring enquiries is that they are driven by a need for an improvement in service levels rather than costs, specifically around the collection of debts.Going back a...

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    Debt Collection and Debt Recovery

    We have had an increasing number of requests through the invoice finance brokerage for debt collection and debt recovery services. In response to this we now have a reputable provider that are able to provide a "no win no fee" service in respect of old unpaid sales invoices or even single invoices....

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    How to Maximise Your Chances of Getting Factoring

    We have just published an article that sets out our top 10 tips to maximise your chances of getting a factoring facility.It covers issues such as:...

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    Not the Time to Shop Around for a Factoring Deal?

    We had a factoring prospect over the last few days that was convinced that it was not the right time to shop around for a factoring deal due to the recession. The opposite is true. OK, the factoring industry is a little more careful risk wise and prices are not as low as they were but there are still excellent deals to be had if you are prepared to shop around.We have found prospects quotes with...

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    Michael Jackson - the Answer to All Our Economic Problems!

    I have just read about the huge demand for tickets to the concerts of the century, Michael Jackson's "This Is It" shows at the O2 arena. Reports over the last week have suggested 750,000 people registering for tickets that have a face value of £50 - 75 with the secondary resale market offering them for vastly inflated sums such as £500, £1,050 and even one report of a single ticket being...

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    Confidential Factoring and Invoice Discounting

    Recently we have been in contact with a small printing business that have been considering factoring (to release the cash tied up in their invoices for working capital) but they are concerned about any adverse effects if their customers were aware that they were using an invoice factoring service.There are a number of solutions available. "Confidential Invoice Discounting" could be the answer if...

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    Dawn of the "Era of No Money"

    An interesting post in the Times Online today "Welcome to the era of no money".It seems like at last the inevitable for our economy has become apparent, the "consumer spending era" cannot continue indefinitely (surprise, surprise!) despite the current desperate attempts to spend our way out of recession.The high levels of consumer spending that have fuelled our economy have been supported by the...

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    Overdrafts being converted to loans?

    The British Bankers' Association recently released figures showing that the amount lent to small businesses through overdraft fell at the end of 2008 by £457 million in the same period the amount lent on term loans (a loan with a fixed period and potentially more security and fees) rose by £220 million.These figures suggest two things. Firstly that there may have been a movement in bank lending...

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    Minimum Service Standards for Factoring Brokers

    We just had a call from a prospective client enquiring about a factoring facility and they mentioned that they had phoned two other invoice finance brokers but neither of them had called them back! Good news for us but not for the company looking for factoring. You would think that in the current economic climate other brokers would be chasing every opportunity - perhaps they have seen the same...

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    Unauthorised Overdraft Fees for an SME

    We have just had an invoice finance prospect, an SME, where one of the major banks has reduced their overdraft by circa 90% after they received a payment into their account which reduced their borrowing. Furthermore, the bank have then "allowed" an unauthorised overdrawn position (equivalent to circa 50% of their previous overdraft value) and charged them circa the value of the "unauthorised"...

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    UK Economy Officially In Recession

    The Office for National Statistics has reported that Gross Domestic Product (GDP) in the UK fell by 1.5 percent from the previous quarter today. The economy has now shrunk for two successive quarters which is the conventional definition of an official recession....

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    100% Funding Against Public Sector Invoices

    Our invoice finance brokerage has been fortunate enough to have been offered an exclusive arrangement by one of it's finance partners to offer an invoice discounting product whereby our clients will receive 100% funding in respect of their invoices to government and public sector bodies and organisations.This could provide a much needed additional cash flow benefit for a number of our clients....

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    Second Credit Crunch Coming? . . .

    I just read an article highlighting the next potential problem for the economy arising from the continuing downward spiral of property prices which could lead to a second credit crunch.The article suggests that banks could be exposed to £250bn of lending secured against UK commercial property and that if commercial property prices continue to fall half of this could need refinancing over the...

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    Avoiding The New Year Cash Trap . . .

    It happens every year, we see an increase in new invoice finance enquiries (factoring and invoice discounting) in the New Year caused by the "New Year Cash Trap" causing cash flow problems. In the run up to Christmas customers generally slow down their payments to suppliers, partly due to their own customers slowing down their payments and partly due to staff holidays. This puts an added pressure...

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Examples of just a few of our finance partners:

acg
funding invoice
bibby
ultimate finance group
woodsford tradebridge
skipton