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• 29 Mar

  UK Factoring Brokers

  

  Factoring is a financial product that helps improve the cash flow of companies that use it. FundInvoice is a firm of UK factoring brokers that offers an independent quote search service. We also help you throughout the process and keep in touch after you have found a facility.

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  What Is A Factoring Service?

  Invoice factoring is a type of financial service that, in the UK, has two elements. Firstly, there is funding provided in the form of early payments against invoices raised to customers on credit terms. This means no more waiting to get paid. Clients will get a proportion of the value of the invoices immediately, with the balance paid when the customer pays (minus their charges for using the service).

  This funding can be particularly useful if you are expanding quickly, or if you need to raise a chunk of capital to pay creditors or finance an acquisition.

  Credit Control Outsourcing

  Secondly, there will be a credit control service provided. This is a way of outsourcing your sales ledger management and collections to the factor. It means that you receive a professional service (if you choose the right provider) and it saves you from having to employ staff to handle that function. Additionally, a factor can often improve your debt turn - the speed with which customers pay your invoices.

  UK Factoring Brokers

  As UK factoring brokers, we are in touch with the best factoring companies across the United Kingdom and we connect our clients with the providers that best meet their requirements. FundInvoice won Best Invoice Finance Brokerage at the European Enterprise Awards 2021 (factoring is a form of invoice financing). We have also found some impressive cost savings for our clients on the fees quoted elsewhere.

  What Is A Brokerage?

  A brokerage is a firm like FundInvoice that helps clients connect with funders. In our case, we don't charge our clients to use our service. Instead, we receive a commission from the funder if you choose to go ahead. You may think "therefore, it will cost more!", however, we have consistently found clients savings that speak for themselves and make it desirable to use a brokerage.

  More About Factoring Services

  If you want to know more about this type of product, please see our free guide to factoring. if you want to talk about your circumstances and how we might be able to help, please call us on 03330 113622.

  By Glenn Blackman