We can help you
> Start a new business
> Refinance your business
> Improve cashflow
> Turnaround your business
> Grow your business
> Buy a business
Invoice factoring businesses all across the United Kingdom have seized a large gap in the market that has been left open by banks over the last few years. Factoring businesses are now above to reduce their risk of lending to smaller firms, on top of this they have spotted a huge opportunity that allows them to increase the amount of money that they are lending over the last few months.
Over this summer a factoring company call Bibby Financial Services has been able to increase its available lending funds to businesses from £90,000,000 to and all time high of £340,000,000. A few days ago on Tuesday night there was an event held by Bibbly Financial Services at their heat office in Duke Street, this event was to promote the its new larger capacity to its customers. This firm has commented saying that they are only able to increase their lending funds because of a high rise in demand for an alternative financial facility than the high street banks for small and medium sized businesses.
Compare Factoring can help you get in contact with companies like Bibby Financial Services and assist you to find the right factoring company for you and your businesses needs. Compare Factoring is a well established business factoring comparison company. We allow you and your business to compare business factoring quotes and choosing the right solution for your business.
There are now 41,989 businesses all across the United Kingdom that are all using invoice factoring, this figure has grown 6% in just the first quarter of 2012. On top of this the funding that has been put in by Asset Based Finance Association (ABFA) has also raised by 4% over the past year achieving over £15.4 billion by March 2012.
This massive growth in the factoring market has come at a crucial time when many businesses are struggling to get any sort of access to finance from banks because of the recent recession. This takes away the option for small and medium business to capitalise on growth opportunities that are in some cases fatal to the businesses future. Factoring allows businesses to grow and increase their number of sales directly in line with the demand for invoice finance.
One of the former bankers from Bibby Financial Services has recent spoke to the press and said the following:
“Historically, the banks have been a little bit tick box, whereas Bibby will get to understand a business a lot better. We will also do single debtor finance. We also do a lot with international debtors arising from export sales. Banks are reluctant to cover 100% of invoices from America. They worry about getting their money back from other countries. We make sure the goods or services have been delivered and then we will fund the invoice. Banks don’t get as close to customers as we do. We are providing cash to customers that they wouldn’t otherwise be getting and also assisting with credit control.”
Bibby is one of the many invoice factoring companies that Compare Factoring can put you in touch with. The job of the factoring companies is to chase up late invoices on behalf of the businesses. They will monitor the outstanding balances that are owed by each one of the customers.
Compare Factoring can help you find the perfect invoice factoring company for your business. We have a large team of experience and friendly advisors that are always on hand to help you with any questions or queries.
Here at Compare Factoring we have already helped thousands of businesses across the United Kingdom find invoice factoring solutions to help them grow their business to a higher level. Since the credit crunch the amount of businesses we have helped has doubled showing the need for invoice factoring. We typically help any sort of business that has a turnover up to £10m and can find companies to factor invoices that range between £1,000 and £10million.
Compare Factoring is a UK based company and website that takes all of the intermediaries out of factoring and helps to link private investor’s directory with businesses that are looking for finance solutions.
The average invoice that is factored in the United Kingdom is around £50,000 but there have been some larger single invoices that have been factored up to £750,000. If you think that your business can benefit from invoice factoring then you should get in contact with us today on 0844 846 7475 or simply fill in the short form on this page.
"Target Business Assist have provided our business with a new invoice factoring system that has dramatically improved our cash-flow position and flexibility with our clients..."
Click here to read full story >