Invoice Finance and Asset Based Lending
Invoice discounting and factoring
Invoice discounting and factoring allows you to simply raise money against your current debtor book and also against any outstanding invoices to ensure your business can maintain a healthy cashflow. Varying solutions are available for a range of business,with many different types of providers in the marketplace readily available.
For those unsure of whether Factoring is applicable, simply put, Factoring is when a company buys a debt or invoice from another company. It is also seen as a form of invoice discounting in many markets and although it is similar, the context may vary.
Factoring relieves the first party of a debt for less than the total amount providing them with working capital to continue trading, whilst the buyer or factor, chases up the debt for the full amount and profits when it is paid.
The factor is required to pay additional fees, typically a small percentage, once the debt has been settled. The factor may also offer a discount to the indebted party.
Factoring is a very common method used by exporters to help accelerate their cash flow. The process enables the exporter to draw up a % of the sales invoice’s value at the point of delivery of the goods and when the sales invoice is raised.
Waiting for payments from customers can restrict the growth of your operation, but factoring will allow you to invest in the continued development of your company and meet the day to day expenditure of running a business. Any business that trades on credit terms could benefit from a factoring facility, and we will ensure that the solution we offer is specifically tailored to your own company’s needs.
This is an asset-based working capital solution that allows businesses to get advances on cash they are due from customers, rather than waiting for those customers to pay. Businesses can then invest in growth or fulfil orders and generally assist with cashflow. This can also be done by a system called confidential invoice discounting
Fees and charges vary greatly from provider to provider meaning it is essential to match the correct provider to your business.
It is vital that whilst you concentrate on your business, you don’t get hampered by reams of paperwork and countless phone calls. We will act from the point of enquiry to the release of funds, taking care of negotiations with the lender and over-viewing all documentation ensuring you the best possible deal in the marketplace for your circumstances from the extensive panel of lenders we work with. 2XL Commercial Finance Ltd is authorised and regulated by the Financial Conduct Authority and is a member of NACFB so you can be sure you are dealing with trusted and fully regulated advisers.
If you would like to explore further any of the possibilities in this area then please do give us a call on 01625 421 976 or drop us an email with your enquiry details and name and contact number at email@example.com and one of our team of advisers will give you a callback.
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