FAQ's

Q. If I choose factoring what will my customers think?
A. In all probability nothing, Factoring is now so widely used that any stigma once attached to factoring is history. Businesses use Factoring as a highly valued tool in accommodating growth.

Q. What’s the difference between Factoring and Invoice Discounting?
A. With both facilities your company can access a significant level of funding. Factoring includes a full ledger management service whereas Invoice Discounting leaves ledger management to you.

Q. I’ve heard Factors can be too hard when collecting money.
A. There are also instances where Factors have been too soft in collecting. The trick is to find the balance and work with your Factor to ensure your money is collected effectively. A good factoring company will collect quicker than most businesses given their resources and skills in ledger management. Collecting money even a few days quicker will save a lot.

Q. Will I have to personally guarantee the facility?
A. This is very much a negotiating point but one that needs to be handled carefully.

Q. Why bother using a broker?
A. A good broker will have a thorough industry knowledge and access to decision makers within a range of possible providers. Factors can be fickle in their approach to new business and some factors will be keen on certain industry sectors where others fear to tread. A good broker will know these likes & dislikes and will save a business a lot of time in sourcing the most suited facility.

Q. Why is there no automated quotation system on this site?
A. At best automated quotes are merely indicative of the possible costs involved, at worst they can be misleading. A factoring broker needs to evaluate your business fully to give an indication as to the likely costs involved and this cannot be done properly via an automated system.

Q. How long does it take to set up a facility?
A. There’s no real answer to this question! We have secured finance for businesses in less than a week and seen deals take over a year. However long you need it to take.

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