![]() ![]() ![]() Your factoring company makes the cash available to you, based on an agreed percentage, within 24 hours providing your business with an instant cash injection. ![]() You raise the invoice you would like to factor against and send a copy of it to your lender your factoring company will then advise your customer that the invoice has been sold and they will also confirm that the sale between yourself and your customer is complete. What will the factoring company do for my business? Cash is usually made available within 24 hours and charges for this facility are based on how long funds are lent and the percentage being advanced. Traditional factoring can be a long term commitment to deal with a company’s ongoing cash flow finance needs whereas spot factoring is a short term arrangement to deal with a specific financial need.Īcting as a financial stopgap, spot factoring provides you with the working capital you require so you don’t fall behind on your liabilities. We understand the benefits of this product for many B2B businesses and as a result, we work with a range of lenders to offer spot factoring for a cash injection solution. Spot factoring, aka single invoice factoring, is a relatively recent product in the UK and it is growing in popularity year on year. This gives you the opportunity to focus on the business and not have to worry about unpaid invoices. A quick solution to an unexpected late payment or a cash flow blip could be, to factor specific invoices that are causing you issues. ![]()
0 Comments
Leave a Reply. |