Business Factoring: Case Study

I was in a meeting the other day and someone said "factoring is expensive". I replied "it doesn't have to be".

Cheap Business Factoring 

We found a cheap debt factoring facility, with an reputable and established factoring company, for a client with a service charge of just £2,000 per annum.

The client in question was a small one-man-band business with county court judgements (CCJs) against him.  We managed to put him in contact with a reputable factoring company that we have dealt with many times before and that specialise in delivering a quality service to small businesses.

They provided our client with a recourse factoring facility with an initial payment facility of 75% of invoice value so that he could draw 75% against his sales invoices as soon as he raised them, with the balance (less charges) passed to our client when the debtors paid.

The factoring facility provides our client with a collections service whereby the factoring companies credit controllers help with the collection of our clients outstanding sales ledger.

All this was able to be provided at a service charge of just £2,000 per annum. So business factoring doesn't have to be expensive.

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