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HomeManagement & FinanceBusiness financesInvoice factoringInvoice factoring / receivables factoring

Invoice factoring / receivables factoring

Eliminate internal invoice ledger management with invoice factoring

Invoice factoring / receivables factoring

Main benefits:Simply Business can provide you with multiple invoice factoring quotes from the members of the Factors & Discounters Association. You can then choose which factoring companies you wish to talk to. An easy way to compare factoring services available and start factoring your receivables quickly.

Special Offer to Companeo users:
£350 to all businesses upon completion of an invoice finance facility via Simply Business*

Invoice factoring / receivables factoring

Eliminate internal invoice ledger management with invoice factoring

W
ith Simply Business, you can compare quotes from the UK's leading invoice factoring and invoice discounting companies instantly. Those factoring services are available to all limited companies or sole traders/partnerships from new start to multi-million pound turnover. Receivables factoring and invoice financing provide suitable funding to manage your company acquisitions and refinancing. They are a suitable financing method for companies with rapid growth models, companies who are experiencing financial difficulties, or companies with seasonal sales cycles, affecting cash flow.

Invoice discounting
Typically less than the cost of an overdraft, Invoice Discounting is a fully confidential service that offers flexible funding for your receivables that grows in line with your business. Bad Debt Protection is also available, offering you peace of mind against any bad debts.

  • Length of a standard invoice financing contract
    12 months is the usual length of a contract, with a 1-3 month notice period. Some companies will offer you a 3 or 6 month trial to see if the invoice finance service is a good fit for your business.
  • Only selected invoices go through the invoice discounting process
    Invoice Discounting contracts list excluded invoices specifically so there needs to be a demonstrable difference between included and excluded invoices.
  • Invoice discounting and confidentiality
    Over 40,000 businesses in the UK use invoice finance and growth in the sector usually runs into double digits year on year. Invoice finance is a well established and cost effective alternative to a traditional overdraft. All invoice discounting services are fully confidential so your customers will not be aware that you are using this.

Factoring your receivables
Invoice factoring is the process of purchasing commercial receivables (invoices) from a business at a discount.

  • How long before you get cash for your receivables
    Money can be in your account in less than a week from the initial meeting.
  • Only selected invoices can go through the factoring process
    Invoice factoring contracts specifically list excluded invoices, so there needs to be a demonstrable difference between invoices that require factoring and those that do not. Sales to associated companies, contra accounts and cash/credit card sales are automatically excluded.
  • Collection process of your receivables through factoring
    Every day an invoice is past its due date the risk increases to you that your customer will default on payment. It is in the factoring companies' interest, as well as your own, to encourage invoices to be paid on time. Invoice factoring companies earn more money the better you do, so it is in their interest to help you grow your business.
 
Benefits of using invoice discounting or invoice factoring services for your business
Business factoring receivables
Free Cash
Receivables factoring helps your business release up to 90% of the money tied up in unpaid invoices.
Money to Invest
Improved cash flow allows you to invest in the business.
Expand Credit Terms
Offer credit terms to your customers, confident that credit checks are easily obtained.
More Funding
Invoice financing and invoice factoring services allow borrowing beyond the levels of normal unsecured overdrafts, usually for a much lower borrowing rate.
Flexible Limits
Funding of your receivables through factoring grows in line with your turnover, the more you invoice the more funding available.
Trusted Names
All invoice finance and invoice factoring companies that work with Simply Business Finance are members of the Factors & Discounters Association.

Being independent Simply Business can find the right invoice factoring or invoice discounting deal for the client's business needs

business factoring receivables


Improve your business cash flow with invoice factoring and invoice discounting.
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£350 to all businesses upon completion of an invoice finance facility via Simply Business*

Main benefits: Simply Business can provide you with multiple invoice factoring quotes from the members of the Factors & Discounters Association. You can then choose which factoring companies you wish to talk to. An easy way to compare factoring services available and start factoring your receivables quickly.

*Completion means £350 is offered to every business / business owner when an invoice finance facility is completed, and funds are drawn down with any lender introduced by Simply Business
Key figures
  • Creation year : 2000
  • Companeo Agreed Supplier since21/09/07
  • Staff : 110
Geographical coverage
UK coverage.
Presentation of Simply Business
Simply Business is the UK’s leading invoice finance broker.

Activity
Simply Business specializes in sourcing factoring, invoice discounting and asset based lending solutions for UK businesses.

References:
Simply Business is an affiliate member of the Asset Based Finance Association.  Simply Business is authorised and regulated by the FSA.
Main clients
Simply Business works with a carefully selected panel of providers, including: LloydsTSB, Barclays, Bibby, London Scottish, Cattles, Ultimate Finance, GE, Clydesdale and many more.

 

Additional Information :

Please indicate your company's estimated turnover for next year: *

Please indicate the type of accounts for which you need invoice factoring: *
Mostly UK Customers
Mostly Export

Please indicate your type of customers : *
Mostly Business
Mostly Private Consumers

Please indicate the industry in which you operate: *

Have you already enquired about invoice factoring through any of the following companies? *
Aston Rothbury
LloydsTSB Commercial Finance
RBSIF
Simply Business
SMEif
None of the above or never

What is the postcode for this project? *

Additional comment

 

Your contact details :

Title*

Last Name*

Address*

First Name*

Company name*

Postcode*

City/Town*

Fax  

Phone*

Email*

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Company Reg. No.  

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  1. Print this document.
  2. Fill in the form and fax it to 0207 520 0800.