As with all business decisions, it is important to compare offers from different factoring companies to ensure you are getting the best deal for your specific needs. In order to do this, you need to obtain quotes from a number of different banks and specialist service providers. A comparison company that specialises in business solutions can do this on your behalf with a range of providers, but with the benefit of only needing to provide your details once. In order to receive a quote, you will need to provide accurate information and business specifics such as minimum turnover as well as provide documentary evidence like profit and loss statements, balance sheets, accounts receivable and payable and a customer list.
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