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Factoring Special Offers

There are always special offers available in the market. As I write several lenders are claiming that they won’t be beaten on price and one is offering a facility ‘interest free’ for the first 3 months. The lenders with special offers change almost weekly and the quality of the offers can vary.

When comparing special offers for factoring it is important to approach with caution. I am always wary of an offer for 3 months interest free when the offer then ties you in as a client for 18 months. The initial benefit will almost definitely be recovered by the lenders when the initial offer period ends.

Importantly, you should always ensure that any factoring facility you are considering meets the needs of your business. You need to understand what debtor limits are in place, whether the concentration limit is enough for your business and which invoices the prepayment is applied to. If the factoring facility works for your business it is then important to compare total costs over say 12 months. This should include any factoring special offer that you are looking at.

At Smart Factoring Quotes we are in constant communication with the lenders in the market place. As such we know what offers are available. Importantly we are experts and can help you through the minefield that is a quote for factoring to ensure a) the facility works for you and b) the total costs of the facility are understood.

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