Factoring and Invoice discounting is a method to finance your working capital requirements by utilising the asset of your debtor book, i.e. funds owed to the business. Factoring and invoice discounting is now widely used and accepted as a viable alternative to an overdraft facility.
It is also possible to factor single invoices – borrow money for stock purchases against confirmed orders, as well as fund imports. Sell as many or as few invoices as you wish, and get up to 90% of your invoice value upfront.
There are three main types of invoice finance – factoring, discounting and selective. Selective invoice finance simply means that receivables are sold on an invoice-by-invoice basis, as opposed to the full sales ledger being sold to the finance provider.
This type of finance helps to alleviate cash flow issues created by late and unpaid invoices, seasonal fluctuations, and sales dips.
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