Technology/Functionality

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Why turn to a factor rather than seek a bank loan?

Many businesses find that  invoice factoring is a much more secure process than entering into a bank loan when it comes to improving cash flow or funding growth. With factoring, you are borrowing money that is already tied up into a business asset, so it provides a means of unlocking money that you already own, but don’t have instant access to. Therefore, there a far fewer risks with a factoring agreement; you’re business isn’t going to be dragged into debt and there is no danger of not being able to meet loan repayments. In addition, a factor can take on all of your invoice administration, bookkeeping and debt collection, freeing up valuable resources and removing the threat of bad debt against the business.

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