Looking for invoice factoring in Worcestershire?
What is Invoice Factoring?
Invoice factoring increases your cashflow with money that’s owed to your business from outstanding invoices.
How does it work?
- You email your outstanding invoices to Fair Finance
- Fair Finance Ltd pay you the total of the invoices on the same day (less our fees)
- You have your money immediately to improve your cashflow
- Fair Finance then chases the invoice to recover the monies
Why not get a bank loan instead of Invoice Factoring?
If you have cash flow problems, why not apply for a bank loan instead of factoring? A bank loan is certainly an option and may suit some businesses. However, it can take months to apply for and receive a bank loan assuming you get approved. Invoice factoring on the other hand gives you your cash on the same day, vital to keep your business running. When applying for a bank loan, it can take months to be approved. Then, it can take additional time to actually receive the financing once you receive your approval status. In comparison, invoice factoring gives you access to fast cash (in some cases, you can get same day funding), so you can increase your working capital and keep your business running smoothly.
Pros of Invoice Factoring in Bath & North Worcestershire
The most important benefit of invoice factoring is getting your money the same day but there are many other benefits:
Immediate cash in your bank
If you don’t want to wait up to 90 days for your money or you have short term cash flow problems, getting your cash the same day can be a life saver.
So if you’re looking for Invoice Factoring in Worcestershire, contact us today 020 8386 3131.
Ongoing Arrangement
Invoice factoring isn’t only for short term needs. Once you have experienced how easy it is and the difference it makes to your company. Cash flow is no longer a problem because you won’t have to wait for invoices to be paid before you have money in your bank account each month.
No Credit History problems
We are concerned with the payment history of your customers rather than your company’s record. So, no worrying about not getting approved due to a low credit score.
Time Saving
Outsourcing this work which can be extremely time-consuming makes sense too and will free up staff to deal with other work.
No Collateral Required
Invoice factoring does not require submitting any sort of collateral as the value is in the invoices themselves.
Improves Customer Satisfaction
It’s a strange fact that factoring can improve the relationship with your clients as it takes the debt collection procedures out of the relationship.
Is Invoice Factoring Right for You
There are of course other finance methods available to businesses and they should all be considered when decided what is right for your company, but if you require a quick solution to cash flow problems, you really should consider factoring.
Why Use Fair Finance?
- 100% of the invoice is paid (less our fees)
- Fast and secure electronic payment
- No hidden costs or monthly charges
- No credit limit
- Steady cash flow
How It Works?
- Your Bodyshop raises an invoice for £XXXXX to the insurance company, but instead of sending this invoice to the insurance company, you will email the invoice to Fair Finance Ltd.
- Fair Finance Ltd pay you the invoice amount on the same day (less our fees).
- We then send the invoice to the insurance company and they pay us.
This process allows you to get your cash immediately, helping you to pay your staff, pay for parts and move on to your next job with none of the worry!