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How does Factoring Work?

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So how does factoring work? So factoring
it's not a loan. Look at it as
accelerating your cash flow. If you're a
business selling to other companies.
You're typically giving 30-days credit.
You're issuing an invoice once you've
delivered the product or completed the
service then you have to wait for your
customer to pay. And that's fine because
you want to give them credit. You want to
give them that time to pay but it ties
up your cash flow. And if you're growing
that's an awful lot of cash flow being
tied up. Look at factoring as a solution
that bridges that gap. So instead of
waiting 30 or 60-days to get paid by
your customer, we can give you the money
for that invoice within 24 hours of you
shipping the product or completing the
service. So again it's a very different
form of finance. And what's really cool
about it is it's not like a loan where
you have to make a repayment. Your
customer pays us... so again we give you
the money up front as if it's your
customer paying you. And we stand in
between and help fuel that growth that
you're seeing. So you're not tying up all
your money in outstanding receivables.
You're getting paid quickly but you're
still able to give credit to your
customers. So again, very different form
of finance. Doesn't work for every
company. But when it does work and
growing companies are great, it's a
really flexible tool because you're not
having to renegotiate your facility. And
like I said, there's no repayment to make.
It flows the same as your cash flow. So
it's a great option. You should really
consider it. And again, give us a call.
We'll talk through the various options
that are available to you.