Factoring
Improve Your Cash Flow And Save Management Time
Factoring - What Is It?
Our Factoring service means that we can help you improve your cash flow by
providing an immediate injection of cash against the value of your
outstanding invoices. Then as you raise an invoice, we can release up to
85% of the value of that invoice within 24 hours. The remaining 15% is paid
to you, less a small service fee, once we receive payment from your
customer.
This means your business has access to an ongoing supply of cash linked to
your sales. So as your business grows so does the amount of funding
available to you.
In addition to the cash that we provide, we can also save you valuable
management time. We manage your sales ledger by chasing and collecting
outstanding invoice payments from your customers on your behalf, so that
you have more time to concentrate on generating new business. We will
prepare and send out statements, telephone all your customers, collect
payments for you and maintain professional and detailed accounts of your
transactions.
We also give you 24-hour Internet access to your customers' accounts so
you can keep track of payments received and the amount of funding available
to you.
With our Factoring service you can also choose to have a Bibby Purchase
Card (at no additional cost), which means that you can use the funds we
make available to make purchases as and when you want. All transactions
made on your purchase card will be reported on your normal statement.
Additional cards can also be made available for members of your team to
cover fuel purchases, lunch, expenses etc.
You remain in control by working with a dedicated team of people who ensure
your customers are as happy to deal with us as they are with you.
Factoring - How Much Does It Cost?
Our services are tailored to your business so the fees will depend upon
your specific needs.
There are two types of fee. The first is the cost of the money you use,
which is extremely competitive when compared with other forms of finance.
The second is a service fee.
What Next?
If you would like to speak with one of our Factoring specialists simply
complete our
contact form. Alternatively you can call us FREE on 0800 91 95 92,
email us at marketing@bibbyfinancialservices.com
or
request a call back.
