Case Study - Non Recourse Factoring Cost Savings
We were recently able to help a foodstuffs distributor, turning over less than £500K pa, that was looking to save money on their non recourse factoring (including bad debt protection) arrangement which was provided by a bank backed factoring company.
We searched the market for them and were able to put them in touch with a reputable factoring company that could save then 30% on the service charge that they were paying in addition to savings on the discount charge.
In addition, the new factor will be able to release some additional funding, over and above, the amount that the existing factor has provided to the client by being more flexible on the funding limits that were being used to calculate the level of funding available by the bank factor.
The Benefits of Non Recourse Factoring
- Release the money tied up in your unpaid invoices.
- Protect you against bad debts if customers fail.
- Provide you with a collections service that will undertake your credit control for you, saving you time and the need to employ credit controllers.
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