Factoring & Invoice Discounting - Factoring UK
UK factoring & invoice discounting - debtor finance - improved cashflow - factoring brokers
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Factoring for the UK
UK Factoring is where an agent often referred to as a factor* purchases your company's outstanding invoices, advances of up to up to 95% of their value are available although an interest charge on the "loan" may be demanded when the account is settled. Factoring can protect a company against late payments by customers thus reducing credit losses and converting it's accounts receivable to cash.
*Factors actually buy your invoice receivables and rely on their own credit and collection expertise. In escense, your customers become their customers. Factoring is used by firms who are unable to obtain bank financing. The cost of financing is usually higher than other forms of financing.
The UK Market
The number of companies that use factoring and invoice discounting in the UK rose by 6% last year as companies continued to move from the much hated overdraft to the much more flexible method of factoring.
The Republic of Ireland has also seen an increase of 12% of factoring services
To demonstrate the importance of the UK invoice finance market most accountants now see factoring as a more appropriate method for growing companies and small-medium-size-enterprises (SME) clients than a bank overdraft or a term loan.
The UK has a number of factoring companies
which can be viewed here (UK Factoring Companies)What is Factoring | Factoring Home | UK Factoring | UK Factoring Companies | Invoice Factoring | Invoice Discounting | Factoring Services | Factoring Brokers | Debt Factoring | Export Factoring | Factoring - Recourse & Non-recourse | SME Factoring | Factoring Glossary
