Invoice Finance Brokers

29 Jul

Factoring Newcastle and North East »

Factoring Newcastle – if you are looking for a factoring company in Newcastle it is worth speaking to Smart Factoring Quotes. With an office in Ryton Village in the Tyne Valley we are well placed to visit you, understand your requirement and provide true independent advice as to which lender can truly deliver a cash flow solution for your business.

If you are a business in Newcastle looking for invoice factoring or invoice discounting get in touch today. Our approach is as follows:

We aim to fully understand your business and your requirements
We work with you looking at your processes to ensure you have the best chance of securing the facility you require
Our knowledge of the market means that you only end up speaking with lenders who can genuinely assist your business
We save you both time and money
We ensure the facility is structured in a manner that meets your needs
We fully explain all the costs and risks involved
There is no hard sell – we simply aim to explain your options and allow you to make an informed decision

Our service is focused on what you actually want rather than trying to force any particular product or structure upon you.

Make us your first port of call and we will gladly visit you to discuss your requirements.

29 Jul

Scotland – Invoice Finance »

by Invoice Factoring Forum

Invoice factoring in Scotland is readily available. Scotland has several dedicated invoice finance providers but also has the opportunity to deal with several lenders south of the border. Scottish lenders include the major Scottish banks and also in Scotland are a few independent providers who actively targets businesses in Scotland.

At Smart Factoring Quotes we have experience of arranging both factoring and invoice discounting facilities in Scotland. Our most recent transaction was for a taxi company that was providing a service to local authorities and invoicing on credit terms.

We are aware of the issues surrounding Scottish registered companies and the laws pertaining to debentures. This means that we can introduce the lender that is best suited to meet your needs.

In terms of costs we understand each lenders capabilities and criteria and we aim to ensure that we set up a facility that is both properly structured and cost effective.

29 May

North East Factoring »

by Invoice Factoring Forum

North East Factoring

As a business owner in the North East factoring could provide your business with the cash flow solution it needs to grow and prosper. It is no secret that businesses are taking longer and longer to pay their invoices and as such many business owners have cash tied up in their debtor book. Factoring could be the answer to your cash flow problems but it is important to understand all costs and risks.

Smart Factoring Quotes has an office based in Ryton, Newcastle and works with local businesses to explain not only the benefits of invoice finance but also the costs and risks involved. You can contact us for impartial advice. We are happy to answer any questions and we are totally independent to you can rest assured our advice is impartial.

We don’t believe in the hard sell approach and our aim is to provide you with all the information you need to make an informed decision. This means a balanced approach in explaining the downside of factoring such as the costs and the risks you take in providing security such as personal guarantees and indemnities. Until you fully understand the benefits and the associated costs and risks of any finance facility how can you make a decision?

17 Apr

Selective Factoring »

by Invoice Factoring Forum

Selective factoring allows you to choose which invoices you factor. This means that you can turn selective factoring on an off as required.

If you have a sporadic requirement for working capital selective factoring can be a cost effective solution for your business.

How does selective factoring work?

Selective factoring allows you to notify a single invoice or a batch of invoices to be financed.
The selective factoring company will conduct some due diligence.
Once they are happy to deal with you you sell them the invoices.
The selective factoring company will check that your customers are happy with the products or services you have delivered.
They will advise your customers that the invoices have been purchased.
You are provided funding by the selective factoring company.
On the due date the customer pays the selective factoring company.

If you require selective factoring please contact Smart Factoring Quotes.

08 Mar

How long does it take to put an invoice – finance/factoring/discounting facility in place? »

by Invoice Factoring Forum

How long does it take to put in place an invoice finance, invoice factoring or invoice discounting facility?

Well the flippant answer is ‘how long is a piece of string?’ However, that helps nobody. On average I would say it takes 3 weeks but I have seen it done in 2 days. While the broker and factoring company plays a very big part in the process it does rely heavily on the requirement and the information that the prospect can provide.

I remember looking at an ‘urgent requirement’ last May and advising we could have a facility in place for the ‘following friday’. While we had everything in place the prospect simply let everyone down by not being able to supply simple information – such as a copy of his passport. This rumbled on until October!!

The flip side of this is a prospect that phoned me on a Saturday evening advising he needed a £1.7m facility in place by the Wednesday. I advised him everything I would need and I had it on Sunday morning. The facility was in place to meet his deadline.

The other key things to achieving a quick turnaround is a) knowing which invoice finance company can meet your needs and b) knowing which person within that company to speak to.

07 Mar

Applications for Payment »

by Invoice Factoring Forum

Invoice Finance companies will typically not provide finance to companies in the construction industry that raise applications for payment. However, at Funding Solutions we have been finding finance for such companies from the very outset. Clients of ours include scaffolding firms, tiling contractors, roofing contractors and various other construction related businesses. If you are looking for finance against applications for payment then give us a call.

Part of this is because they cannot actually take assignment of an application as it is not a legal document whereas an invoice is.

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23 Feb

Invoice Finance Quote »

by Invoice Factoring Forum

An Invoice Finance Quote is available from many places but at Smart Factoring Quotes we provide bespoke indicative terms for both invoice discounting and invoice factoring.

The invoice finance quote is based upon turnover, the number of debtors you have, the number of invoices you issue and our in depth knowledge of the invoice finance market.

Pricing is obviously an important aspect of any facility but it is imperative you look beyond headline rates. Take a look at our article about calculating factoring fees and also the article about comparing factoring quotes.

10 Feb

Factoring Brokers »

by Invoice Factoring Forum

Factoring Brokers vary from one man bands to sophisticated sales organisations and everything in between.

If you have received a telesales call or direct mail the likelihood is that you are hearing from one of the larger factoring brokers. As with any large organisation the quality of the advice you receive will depend on the individual you deal with and in some instances can be poor.

If you are dealing with a one man band you are obviously totally reliant on that individual and there own personal expertise.

Some brokers simply pepper the market with your requirement and hope that a lender manages to convert your deal in return for commission. This is lazy and could easily be achieved by any business owner and a yellow pages.

There are a lot of excellent brokers in the market and I am not about to criticise any of them.

At Smart Factoring Quotes we are very proud of our approach and track record. We do not sell anything. Our aim is to understand a clients business and it’s requirements. From there we explain how invoice can help them and we explain the costs along with any potential benefits and downfalls of the facilities available. Our knowledge of the market and each lenders capabilities and criteria allow us to get straight to the most suitable lenders. In short we set out the invoice finance options in detail and allow the business owner to make an informed decision.

We want our clients to make any decision with peace of mind that they understand what they are entering into.

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