Factoring & Invoice Discounting - Factoring before you apply online.
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A factoring Checklist
Before you make an application be sure to have the following information immediately available
What industry do you operate in?
Construction, IT related, Courier / Logistics, Professional Services, Retail, Warehouse / Distribution, Manufacturing, Wholesale / Distributor, Printing / Publishing, Recruitment, Freight / ExportHow long has your company been running?
Your companies predicted turnover be in the next 12 months
What percentage of your turnover comes from the following type of customers: Business | Governmental | Consumer. These figures must add up to 100%
A brief description of your day-to-day business activities.
Are stage payments part of your invoicing.
The CIS designation of your company (No CIS, CIS4, CIS,5 CIS,6 CIS7, ).
The total amount of monthly invoices issued.
The number of customers who have outstanding invoices
The current outstanding balance on your sales ledger (books)
Value of outstanding invoices to customers.
The amount of overseas sales %.
You payment terms and the time taken by customers to pay outstanding invoices.
What percentage of your business turnover is down to your biggest customer?