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Stories Tagged ‘Invoice Factoring Company’

Invoice Factoring Services are provided by numerous invoice factoring companies within the UK.  Depending on the unique requirements of your business there will be a factoring company that is best suited to meet your needs. If you would like guidance as to which factoring company can provide the factoring service the best meets your needs please contact Smart Factoring Quotes today.

Invoice factoring services can differ dramatically for each invoice factoring company. They differ in terms of the following:

  • The individual limits they will set for each of your customers. This can have a huge impact on the amount of funding generated.
  • The funding period they are happy to fund up to. Some will fund up to 120 days while some others will only finance for much shorter periods. This may or may not be an issue but it is important to realise what is on offer and how it impacts on the factoring service you receive.
  • The style of collections. Factoring companies provide a collections/credit control service. Some genuinely manage the credit control with phone calls and communicate any issues with you so they can easily be resolved. Others will simply send out automated letters and month end statements in the hope that customers will react. Some companies will even provide a confidential credit control service where they call as if they are calling from your own business rather than a factoring company.
  • Concentration limit – how much debt will the factoring company provide against any one debtor. This may impact on your funding.
  • Then there are the obvious headline rates including prepayment, service fee and discounting fee. These are obviously important but please, please, please look beyond these and understand the total fees and what funding is actually generated.

If you are unsure please take impartial advice. Call Smart Factoring Quotes – we are happy to help.

If you are looking for the best invoice discounting rates it is well worth speaking to Smart Factoring Quotes. We monitor the market for the cheapest invoice discounting rates available at any one time.

At present we have several invoice discounting companies who are actively competing on price and claiming they will not be beaten on price. It is however imperative that any business owner looks beyond the headline rates and considers total costs when comparing facilities from an invoice discounting company. It is also important to remember that the lenders offering the best rates can be among the most risk averse and as such your facility may be structured in a more cautious way.

At Smart Factoring Quotes our approach is to explain the benefits and potential downside of any facility and along side this show the total annual costs involved. This will allow any business owner to consider which facility represents the best value. To me that is the most important factor – compare the benefits the facility offers against the costs and then establish which facility represents the best value to your business.

If you want a helping hand give us a shout!!

Invoice Factoring Companies in the UK total roughly 40 providers. They range from small husband and wife operations to the large invoice factoring providers such as the invoice finance arms of the High Street Banks.

Invoice Factoring Companies vary in size, geographic location, criteria, capabilities, pricing and service levels. The challenge to any business owner is finding the most suitable invoice factoring company to meet their needs. The most suitable invoice factoring companies will depend on the sector, size and requirements of each individual business.

If you feel that you want advice about invoice factoring companies please contact us by visiting the Smart Factoring Quotes website. We offer free, impartial and independent advice and simply advise you what options are open to you and your business. Our aim is for you to understand the pros and cons of each of the invoice factoring companies offers and the total costs involved in each.

Which is the Best Factoring Company? This is a question we are often asked. The answer as you can probably well imagine is somewhat vague and depends very much on the characteristics of your business and your factoring requirements. If you are looking for the best factoring company for your business then speak to Smart Factoring Quotes.

The best factoring company in some peoples minds will be the cheapest and in other circumstances the best factoring company will be the one with the best service levels. There are a lot of factoring companies out there claiming to be the best and nearly all claim to be voted ‘Factoring Company of the Year’ by someone. Unfortunately these awards are ten to the dozen and I tend to ignore them.

There are some companies in the market place who are notorious for various bad habits such as poor communication, simply not doing what they say they are going to do, changing the goal posts, applying additional unexpected fees, making it hard to leave and generally providing poor service levels. My recommendation is to avoid these companies at all costs.

However, some companies genuinely strive to meet the needs of their clients, they do what they promise and look to find solutions for their clients.

If you are looking for the best factoring company for your business it is worth contacting Smart Factoring Quotes to discuss your requirement.

If you are looking for Factoring Companies in Yorkshire you have a fair few to choose from. It is however imperative that you choose the right one for your business and it’s own individual circumstances and requirements. If you are unsure as to which factoring company to use in Yorkshire it is worth contacting Smart factoring Quotes in the first instance. Smart factoring Quotes can help you to understand which factoring company can best meet your needs in Yorkshire.

Please keep in mind that while a few factoring companies are actually based in Yorkshire there is a full spectrum of factoring companies that can service a business based in Yorkshire. There are the 4 major banking groups along with new players such as Santander. From there you have independents such as Skipton Business Finance who are firmly based in Yorkshire and then other independents with Yorkshire offices such as Bibby Financial Services, SME Invoice Finance and Aldermore Invoice Finance.

However, factoring companies from across the UK can service Yorkshire based businesses and as such it is important to choose a factoring company based on it’s capabilities and criteria rather than it’s geographic location.

Factor 21 are a small family owned independent invoice factoring company based in Oxfordshire. They are small and hands on in their approach and Graham Ethelston keeps things simple and focusses on good quality service for their factoring product.

I have several clients that use Factor 21 and they only have good things to say about them. They communicate well with clients and are flexible and open in terms of their approach.

My only criticism of Factor 21 would be that they are not always as responsive as what I might hope in terms of their sales process. They are however a small operation and I suspect they are to some extent victims of their own popularity when it comes to response times.

Factor 21 are not for everyone but for some businesses they are the ideal finance partner.

If you are looking for a factoring company and are considering Factor 21 it is worth contacting Smart Factoring Quotes in the fist instance to see which invoice finance company is best placed to meet your needs.

Would you like to review or provide feedback on your experience of Close Brothers Invoice Finance? Reviews are at the bottom of this page and links to some interesting articles and blogs below.

It is probably fair to say that if you are looking for a provider of invoice finance there are better options out there in terms of pricing, structure of facilities and customer service levels.

Close Brothers Invoice Finance are part of Close Brothers Group Plc and provide invoice finance solutions to over 1,000 clients. They are a national player with full UK coverage. They also offer invoice finance facilities in Ireland and Northern Ireland.

They are one of the larger independent invoice finance companies with offices in Brighton, Manchester, Dublin and Belfast.

In our opinion, more common complaints about Close Brothers Invoice Finance include their lack of flexibility, charges such as minimum base rates, their arrogant approach and some people have described them as ‘unapproachable’.

Read more:

An independent blog post about Close Brothers putting a business into administration – click here

Article on Close Brothers Invoice Finance pricing – click here

Article regarding a restrictive facility structure – click here

Trustpilot makes for some interesting reading – click here

It also appears there is a blog dedicated to Close Brothers – click here

Close Brothers also feature in an article on complaints about wealth management companies where it states, “Close Brothers also features on the list with 169 complaints, but its complaints are related mostly to banking and credit with none related to investments.” Interesting. For the article – click here

If you would like to share your experiences of Close Brothers Invoice Finance please feel free to do so but please try to be objective and refrain from abusive remarks.

If you are a business in Manchester looking for a factoring company you have an array of factoring companies available to you. The challenge however remain finding the right one for your business and that is dependent on a lot more than location. If you need assistance please visit the website of Smart Factoring Quotes.

There are several factoring based in Manchester and these include Skipton Business Finance, Venture Finance, Positive Cashflow, Ultimate Finance, Ashley Commercial Finance and Bibby Financial Services. There are also the major national factoring players with the capabilities to service businesses in Manchester.

So if you are looking for a Manchester Factoring Company what should you be looking for? That will depend entirely on your own businesses requirements and characteristics. Depending on your size, sector and requirements there will undoubtedly be a factoring company that is best suited to meet your factoring requirements.

Smart Factoring Quotes is fully operational in Manchester and would welcome the opportunity to assist you.