Improve your working capital through factoring and invoice discounting!
The average receivables turnover can take up to 60 days to be wholly paid by clients and customers. This means that during this period, a business could potentially undergo major funding issues; being unable to pay employee wages, pay the rent or even pay simple utility bills. This can critically impact the impending growth of a business. This is where factoring comes in.
Here’s what’s great about factoring:
- There’s no long term contract.
- No need for property and assets to be used as security.
- Quick turnover means you get access to cash flow immediately.
So how does it work?
Your existing outstanding client invoices are exchanged for up to 80% value of the original proceeds of the receivables.
Factoring will allow a more predictable cash flow by drawing on your receivables.
Your business cash flow will be entirely dependent on your client proceeds and how many invoices you decide to factor.