From CVAs through to Administration, there are a range of rescue and recovery options to help you get back on track. When a company is in difficulty, sometimes a process of financial and/or operational restructuring is needed. The unique selling point of this factoring provider appears to be championing the growth of SMEs, meeting their ever-changing needs, and adapting the products offered as each business achieves its potential. As such, they claim to offer greater flexibility than the major banks, and with local advisors, can tailor a factoring or discounting package to each business. IGF has been in business since 1997, and form part of the Greater London Enterprise Group. They serve small and medium sized businesses throughout the UK and Ireland, and will take into account your objectives in business as well as turnover and the industry in which you operate. Originally established in 1878, this leading financial player is known for its expertise within specialist markets, and were voted Money facts ‘Best Factoring & Invoice Discounting Provider’ in 2015.Ĭlose Brothers offers factoring and discounting, with up to 90% of the value of approved invoices being available. Close Brothers Invoice FinanceĬlose Brothers Invoice Finance is part of merchant bank, Close Brothers Group Plc. They also offers valuable flexibility with no contracts or hidden fees. The system is available 24 hours a day, and with transparent fees of between 1% and 3% of each invoice’s value, Market Invoice offers a compelling package of services, particularly for smaller businesses watching their costs. Invoices are ‘sold’ to a number of buyers, and the money advanced within 24 hours. The company is a member of the Peer-to-Peer Finance Association, and their system runs in a similar way to crowdfunding. Market Invoice has developed an online platform for invoice factoring, supported by global investors. The fact that no additional charges are made is a draw for many smaller companies looking for regular injections of working capital. They offer simple but innovative products, and have a reputation for high levels of customer service. The company has been in business since 1982. They offer short-term rolling contracts of six months following an initial six-month trial period, so you are not tied in to a long contract and have time to establish whether invoice financing is for you. Hitachi Capital Invoice Finance is a large provider of debtor finance to SMEs with an annual turnover of £100,000 to £10 million. The company operates from 19 local offices throughout the UK and Ireland. With customised, flexible solutions to the problem of raising regular working capital, you benefit from advice tailor-made to your business as well as their vast experience of dealing with a wide customer base. As one of the leading providers of debtor invoice finance, with more than 7,000 businesses on their books, Bibby can offer advice to specific industries such as construction and recruitment. So let’s start with the independent providers: Bibby Financial Servicesīibby Financial Services offers invoice factoring and discounting services to SMEs and larger corporations throughout the UK. We’ve put together a list of large organisations and specialist lenders to give you a broad idea of what’s available. Numerous new providers have entered this growing market in recent years, and with the established high street names also offering factoring and discounting services, it can be difficult to know where to start. If you’re looking for the best invoice finance company for your business, you’ll need to spend some time going through all the options. Comparing providers to get the best deal for you
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