Factoring
Factoring & Invoice Discounting have become a leading form of business funding due to the decline of the traditional bank overdraft facility.
With over 75 Factors/Invoice discounters in the marketplace, which one do you choose? At Ludgate Business Finance we can help select the most appropiate cashflow funder for your business dependent upon your circumstances.
Factoring is the process of purchasing the debts owed in exchange for immediate payment at a discount. The typical initial payment is 80% of the invoice amount with the balance less costs paid upon receipt of the money from your customer. Factoring is a full sales ledger management, credit control and debt collection facility.
With over 75 Factors in the market place, how do you make the right choice? It is imperative that a clear understanding of your business and its customers are considered before introducing a suitable Factor to ensure maximum benefit from the facility and that it is the best fit for your needs.
Contact Richard Mason today on 0845 071 0854 for a no-obligation discussion