50% Saving For A Small Business With No Discount Charge

This is an example of a significant cost saving that we were able to deliver to a client recently. The client was a small business turning over less than £100,000 per annum and they already had a recourse factoring facility from an independent provider that specialise in small businesses.

The minimum service charge fees were working out at approximately £3,600 per annum, in addition to discount charge, and so the business wanted to leave factoring all together and move to an overdraft. However, they were unable to secure an overdraft that would meet their cash flow requirements. Therefore they were looking to stay with factoring by needed a significant reduction in their costs.

Through our free quotation search service for invoice finance, we found them a new quotation with another funding partner that were able to offer recourse factoring at a service charge that would save them approximately 50% of the total fees that they were paying at present. This quote did not include any additional discount charge as it was included within the service charge removing that additional cost.