3/15/2023 0 Comments Invoice factoring quotesHowever, most of our clients use factoring on an ongoing basis and implement our affordable factor fee into their budget and cost of services. You can choose to use our services one time if you are facing a sudden decline in revenue if you prefer. You no longer are responsible for making sure they are paid. When we purchase your invoices, they become our invoices. We handle many of these logistics so you don’t have to. We partner with you and become part of your company’s cash flow credit and collection arm. Let us purchase your invoices and pay you a high percentage of your receivables upfront and the remainder as soon as your customer’ bills are paid in full.Īt Sell My Invoice, we do much more than purchase your accounts receivable. With Invoice Factoring, the wait is over. Many companies are left anxiously waiting for slow paying clients to remit payment so that they can cover their day to day expenses. When you invoice your customers, it may take up to 30, 45, 60 days, or even longer to receive payment. Factoring: Invoice Finance offers factoring quotes for businesses looking for a factoring broker to raise finance. Quotes have a solution that can help you achieve your goal.Simply put, we purchase your accounts receivables for immediate cash. Whatever your business requires there is a strong likelihood that Smart Factoring Typically suitable assets are what we call ‘hard assets’ and include vehicles, plant and machinery and other durable assets. You are simply borrowing money secured against the value of the assets within your business and repaying this on a monthly basis. This can be an excellent way to generate cash against the assets that your business already own. There are various asset finance solutions available depending upon your requirement. It spreads the cost of the asset over a suitable term and id structured properly it is repaid by way of a manageable monthly payment. Asset FinanceĪsset finance is often used by businesses to smooth cash flow. It is typically a disclosed facility but allows the client to do their own credit control.ĬHOCS stands for Client Handles Own Collections. This is a type of hybrid product and in terms of service it falls between factoring and invoice discounting. Invoice discounting is typically confidential and does not include a credit control service. That said, there are lenders with less strict criteria. When compared to factoring it can be harder to obtain and typically requires a business to be well established and profitable. It will generate up to 90% of the value of unpaid invoices. In a similar way to factoring, invoice discounting generates cash against unpaid invoices. Factoring also includes an outsourced credit control service. Typically factoring is disclosed so your customers are aware of a lenders involvement although there are now confidential facilities available. Importantly, it can be used by businesses that might not have a great track record as it’s availability rests more on the people you are dealing with and the systems you have in place rather than your own businesses financial performance or credit history. It is readily available for established businesses and new start businesses alike. Often referred to as just factoring, invoice factoring will generate up to 90% of the value of your unpaid invoices as cash for your business. Specific products that fall under the banner of invoice finance include invoice factoring, invoice discounting and CHOCS. Invoice finance is an umbrella term for the types of facilities that generate cash against unpaid invoices. Let’s take a look at the potential finance solutions that may assist your business: Invoice Finance Importantly we always focus on what your business requires and what you want. Our focus is always the improvement of your cash flow and the reduction of finance costs. We are well versed in other cash flow solutions such as asset finance and asset refinance. At Smart Factoring Quotes our expertise is not limited to Factoring and Invoice Discounting.
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