• Help With Factoring Company Manage Aways

    If you have, or are, a factoring client to manage away to another lender, we can help."Manage aways" are customers which factoring companies are seeking to move a to an alternative lender - normally because the funder thinks that their client's situation has changed, or that they have changed their own criteria. This may sound counterintuitive, that in the current environment any provider could wish to part company with any of its customers, but these situations do arise.


    Criteria Are Different At Different Factoring Companies

    You might assume that every factoring company would want to hold onto every single client. However sometimes a provider may think that client no longer meets their risk criteria. Risk criteria are the measures by which the factoring company judges the viability, and suitability, of a business.

    These criteria can vary dramatically between different providers. In some cases, a provider will be looking for clients with a very clean credit history, and a very clean sales ledger, without ageing debt. However, there are other providers that will take an alternative view. In some cases providers will deal with clients that have County Court Judgements, are in a Creditors Voluntary Arrangements, or have significant creditor pressure. Providing they feel that they will be able to make a difference, and improve the client situation, they may still get involved.

    Even if there is sales ledger ageing (overdue debts), some providers will be confident that they can improve this by delivering a good credit control service. In other situations, a provider may be prepared to take alternative security, to sit behind the facility e.g. a second charge over a property.

    The situation is such that even if one factoring company feels that you no longer fit the profile of client that they are looking for, there are likely to be other alternatives, factoring companies that will be prepared to provide funding. We have been able to help clients that have been subject to funding changes as a result of a provider changing their criteria.

    Help With Factoring Company Manage Aways

    If your factoring company has told you that they wish to manage your account away, we can introduce you to providers that will be eager to make you feel very welcome as a new client. The differences in approach between different providers cannot be stressed enough.

    Alternatively, if you work at a factoring company, and are looking to manage away a client, we would be delighted to work with you in order to place that client with an alternative provider. For help with please call Sean on 03330 113622 to discuss any manage away situations.

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Examples of just a few of our finance partners:

ultimate finance group
funding invoice
metro bank sme finance