The dummies or idiots guide to Invoice Discounting, Invoice Factoring, Debt Factoring and Invoice Finance
We aim to keep this simple, basically you raise invoices and get an immediate cash payment from your chosen company, up to 90% immediately to keep your cash flow into the business fast. Various terms are used including words such as eg. factor, factors, factoring, discounting and finance.
There are differences in the service levels provided by these companies and some companies will not deal with turnover under £500,000 per annum. Invoice discounting will only suit companies who have a strong credit control system in place and just require cash quickly, factoring and invoice finance also provide credit control and chase payments for you. Some companies will expect you to place all your invoices with them and others allow you to select customers saving you the fees payable for the service. All schemes are paid for by varying percentages of the invoice value.
Ashley Financial Services, the friend of small business, who are independent offer a cost effective service to small businesses with turnover up to £3 million and allow customers to cherry pick the invoices they wish to “invoice finance” therefore avoiding the charges on the rest, they do credit checks from their legal department and chase your cash flow allowing you to get on with your business, check out our services. Ashley also offer non-status and subprime invoice finance to customers with poor credit history or weak accounts.
Ashley also provide Confidential Invoice Finance for clients with turnovers up to £250k. Suitable for businesses who need the funding and the credit control assistance – but do not necessarily want to tell their customers.
Ashley will manage your credit control confidentially acting as if they were your business. Cash flow can be improved and protected, account activity can be viewed online 24/7.
You will get up to 90% of the raised invoice value usually within 24 hours and the balance when your customer settles the invoice after our fee is taken.
Benefits include our credit control to give your business peace of mind at all times. We always aim to minimise our costs and provide clear explanations of what we do and how we will that you, we are after all the friend of smaller business, and aim to see your business grow.
If you need help ask for a free Callback or click the Livechat link above during working hours or contact us directly for an initial discussion:
Phone: 0161 233 6373