Ultimate Finance: flexible funding solutions for SMEs

Over the last 15 years, Ultimate Finance has been developing a whole range of banking products dedicated to helping businesses of all sizes, but particularly SMEs. Based in Bristol, but operating nationwide, it is a lean and flexible finance company with ample funds to lend and a broad portfolio of products and services. Therefore, if you are a business owner who wishes to smooth out his company’s cash flow or have more working capital at his disposal, then Ultimate Finance’s factoring solutions may be for you.

Factoring: what is it and how does it work?

Factoring  and invoice discountin g are basically the same thing, and these two systems share a common goal: allowing businesses, and particularly small and medium sized ones, to develop and invest. For that purpose, Ultimate Finance provides its professional and commercial customers with various banking products, including factoring facilities.

Basic principle

When you raise an invoice with one of your customer, you typically have to wait for 30, 60 or 90 days to get paid. This delay can put considerable strain on your finances, impair your cash flow and prevent you from investing working capital . By subscribing to a factoring facility, you can drastically reduce this delay. For example, you send Ultimate Finance your invoice and quickly receive up to 90% of the money tied up to that invoice. As this money was actually lent to your company, it needs to be paid off. To do so, either the finance company deals directly with your customer to recover the debt, and that’s factoring; or you recover the amount you’re owed, and repay the finance company, and that’s invoice discounting. In any case, you’ll get the remaining amount after the standard 90 days, minus a fee paid to Ultimate Finance to cover administration and interest.

What are the benefits of factoring?

Obviously, factoring guarantees a better and faster availability of funds. As a matter of fact, when an invoice is raised the finance company will transfer the corresponding sum to your account generally within 48 hours. Most companies need to pay their staff and suppliers before getting paid, so factoring or invoice discounting are sensible and cost-effective solutions to smooth out a company’s cash flow and guarantee sound, crystal-clear bookkeeping.

Ultimate Finance’s factoring and invoice discounting solutions

As one of UK’s leading finance companies, Ultimate Finance is dedicated to helping small and medium sized businesses develop. With a wide range of factoring or invoice discounting solutions, this company offers ample and readily available funds, as well as advice and transparent services and conditions.

Products and solutions

Factoring and invoice discounting facilities are easy and quick to arrange. In general, a first contact will be enough to assess your needs and credit capabilities. Then, the facility can become effective within five working days. Thereafter, each time you raise an invoice, you will be credited up to 90% of the amount straightaway, usually within 24 to 48 hours. Choosing factoring or invoice discounting depends on your desire and capacity to control your debt recovery. Factoring is really the hassle-free solution, as the finance company is in charge of everything.

Choosing Ultimate Finance

Ultimate Finance prides itself for its flexibility and adaptability. Therefore, whatever the size of your company or your business sector, you’ll find a solution suited to your needs. Likewise, your involvement in the debt recovery process is adjustable, and you’ll always receive relevant and tailor-made advice from your finance company.