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Stories Tagged ‘Invoice Factoring Company’

11 Dec

Gener8 Finance »

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Gener8 Finance offer invoice finance facilities to the true SME’s of the market. They also approach things slightly differently to most independent invoice finance providers. They operate on a flat monthly fee in comparison to fees that are charged by way of a percentage of turnover. This fee is based on the size of the facility you require. They will also consider ‘invoice discounting’ facilities for smaller businesses which most invoice finance lenders won’t.

The business was started by Dave Richards who was previously at IGF after he had done some analysis of what the market wanted. I understand a lot of this analysis was done while acting as a broker. I think the approach was developed in part to meet client needs and in part to come up with a unique offering.

Has the new approach worked? The feedback I have from Gener8 Finance is that things are going well which is good and they have been able to expand their sales force which backs this up.

From my side I am not sure the flat fee structure is really revolutionary but I sense it appeals to some clients and can be perceived to be cheaper. Personally I am not convinced it is cheaper but I can see why the approach would appeal to SME’s who want to be able to budget. I am also not sure a true invoice discounting product is offered but I don’t see that as an issue.

If you are an SME and you are looking for a suitable invoice finance provider then it is worth contacting Smart Factoring Quotes to see which lenders are best placed to meet your needs.

28 Nov

Cheap Factoring »

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Cheap factoring is available from a variety of providers however everything is of course relative. When looking for an invoice finance facility it is important to remember that in some cases the most expensive provider can be 3 times more expensive than the cheapest provider.

It is also important to remember that good deals become available from lenders from time to time and as such the cheapest lender will depend on when you are looking. It is also important to remember that the cheapest factoring provider will also depend on the unique characteristics of your business and it’s factoring requirements.

Smart factoring quotes understand the market and monitor it’s changes. On that basis we can save you time doing research and can also save you money by ensuring the most competitive factoring lenders are introduced to you.

25 Nov

Invoice Factoring – Newcastle »

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Invoice Factoring – Newcastle

Invoice Factoring is available throughout the UK but which invoice factoring companies have a true presence in Newcastle? Smart Factoring Quotes have an office in Newcastle.

Newcastle was an industrial heartland of heavy industry within the UK but today it is not dominated by large industrial employers. It thrives on the back of local entrepeneurs who have started successful SME’s.

These SME’s require funding and for businesses that sell or provide a service to other businesses invoice factoring or invoice discounting can be an ideal solution.

Newcastle is actively covered by several players. These include Bibby Financial Services, Aldermore Invoice Finance, Lloyds TSB Commercial Finance, Close Invoice Finance and Skipton Business Finance. There are also another dozen or so lenders who are very happy to assist businesses in and around Newcastle.

Smart Factoring Quotes also have an office in Newcastle and a real desire to help local SME’s. If you are an SME in Newcastle looking for a factoring facility it is worth understanding which lender and which product is best suited to your business. Smart Factoring Quotes can help you find both the right lender and the right product – simply contact us on 0845 863 0738 or visit or website. We can assess all the local offerings and also draw on contacts across the UK to find the best solution for the requirements of your business.

Each lender has very different criteria and capabilities. They are each suited to different types of businesses and it is imperative that you select the right lender for your business. Entering into what is typically a 15 -0 18 month contract with a lender that can’t really provide what you are looking for can be very detrimental to you business. It can also be very time consuming and costly.

23 Nov

Skipton Invoice Finance »

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Invoice Discounting Services

They are the invoice finance arm of Skipton Building Society and provide a full range of recourse invoice finance solutions. If you require a non recourse invoice finance facility they can source an appropriate credit insurance policy from a third party provider.

We have dealt with Skipton Invoice Finance on several occasions and they can do an excellent job with their traditional approach to invoice finance. When I say traditional I am referring to their credit policy which relies heavily on the quality of the debt and the quality of the people within the business. They accept that some businesses have financial difficulties and as such fall foul of the banks criteria for invoice discounting. Their approach is a flexible one and their product offerings can meet the needs of a client but also mitigate any risks that are associated with a deal.

It would be fair to say that Skipton Invoice Finance are not for everyone and they will be the first to admit this. However, in some situations they can offer what other lenders don’t. Their communication style is also direct which means clients know exactly where they stand.

20 Nov

Bibby Factors »

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Bibby Financial Services offer factoring, invoice discounting and trade finance solutions to businesses.

They ae the largest independent invoice finance provider in the UK with regional offices across the UK from Hastings to Edinburgh.

I have had a lot of dealings with Bibby and while their service levels can vary from office to office I feel that overall Bibby are a creative and solutions oriented lender.

Bibby are sometime criticised for their additional charges but in fairness to them I find their pricing to be competitive within the market and typically they price related to the risk taken which is fair. Bibby Factors will also come up with solutions that other providers of invoice finance often won’t.

If you would like to contact Bibby Financial Services or find which lender is best suited to your needs then please contact Smart Factoring Quotes on 0845 863 0738.

28 Oct

PayFactory »

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PayFactory is the new name of Calverton Business Support which provides invoicing, finance, credit control and payroll management to recruitment companies. Their aim is to become the market leader in recruitment finance and back office support.

Essentially it allows a recruitment company to outsource the areas they do not enjoy and concentrate on recruiting. It also offers peace of mind that their workers will be paid correctly and on time.

We have been told to expect some heavy marketing and PR in coming months.

It does however sound as though work still has to be done on the website to allow for uploading of schedules online and viewing of reports online.

If you wish to consider a facility from payFactor please contact Smart Factoring Quotes today. We can explain their offering in more detail. Importantly we can also explain the other options available to you from other providers.

28 Sep

Haulage Company Invoice Discounting »

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Our client is a haulage company. They approached Smart Factoring Quotes to seek advice on how best to set up an invoice discounting facility. They were keen to obtain a facility that allowed ‘export invoices’ to be raised to their european clients for the backloads that they carried back to the UK.

Our client had been through challenging times because of rising fuel prices and exchange rate fluctuations. However, they had maintained turnover and had a well established business.

They had been offered factoring facilities but felt that they were best placed to collect in the debts as they knew their customers best. As such they wanted an invoice discounting facility.

If you look at the whole market of invoice finance companies not all are able to provide invoice discounting. Our client was raising export invoices which reduced the amount of lenders able to assist even further.

Through our knowledge of each lenders capabilities and criteria we were able to introduce lenders that were genuinely capable of helping and more importantly were actively seeking new clients.

As such we secured a confidential invoice discounting facility for our client at very competitive rates.

04 Sep

Ultimate Finance – New Capabilities »

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Ultimate Finance the AIM listed independent provider of invoice finance have developed new capabilities. They have added asset finance and trade finance to their portfolio of products.

The asset finance will allow Ultimate to help clients who are looking for additional finance against plant and machinery and other movable and durable assets.

Trade finance will benefit importers who can benefit from both the protection and cashflow advantages a letter of credit offers.

I am not sure that either products will be available as a stand alone product but suspect they will be offered in conjunction with their core invoice finance offering. It will alow them to raise more finance in some instances than their competitors and this can benefit clients.

It is always good to see lenders developing new capabilities as it enhances the market.

As a lender Ultimate have grown rapidly in recent years and their financial performance has improved recently – their share price have mirrored this. Despite a high turnover of sales staff they do seem to have stability in terms of their operations staff. In terms of client feedback it is generally good although I have encountered regional variances. These regional variances are being addressed from what I can see.

I will be interested to see how these new products are delivered both in terms of pricing and service levels and at the same time wish them luck.

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