• 16 May

    Service Only Factoring - The Holy Grail?

    When I started in factoring at Barclays, service only factoring deals were the holy grail in terms of new clients.

    A service only customer didn't need any funding, so there was no risk of loss to the factoring company. Hence, these were the most desirable of clients. This no longer seems to be the case!

    We have had several instances where customers have contacted us for credit control service only, one very recently. However, many of the factoring companies are reluctant to get involved as they have become so focused on funding. We even had an instance where the factors agreement now requires a funding payment to be made to the client in order to activate the agreement, hence they don't want to get involved with service only factoring.

    This is not the first time we have had such issues, so we have taken the step of forging new relationships with companies that can provide just a credit control service without any funding, get in touch if you need more details.

    By Glenn Blackman

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Examples of funders we work with:

metro bank sme finance
pulse cashflow finance
apollo business finance
bibby
skipton
investeccapitalsolutions