If you’re a business in the West Midlands, you could benefit from invoice discounting. It’s an easy way to get capital straight to your account, without waiting for clients to pay up.
Invoice Discounting – How it works
The assets in your invoices can be delayed for up to 90 days while clients pay. But you can have that capital sooner by using invoice discounting at Select Factoring.
If your clients are credit worthy, we can release up to 85% of the value of your invoices and that capital can be in your account within 24 hours. Once the invoices have been paid, Select Factoring will transfer the rest of the funds minus a small lending fee.
It’s a simple process and it allows you to expand your business, purchase materials and pay debts or staff without waiting for client payments.
Factoring – Let us chase the payment
If you’re too busy to chase up client payments, we can do it for you.
Invoice discounting means that you continue with your own accounts and credit control, and it’s up to you to make sure your clients pay.
Factoring is a similar process, except we chase up your clients for their payment. This means you can focus on your business, with more capital at your fingertips, instead of pursuing clients for payment.
Luckily, all of our finance solutions are flexible. This means you can hand-pick which invoices you would like to take capital from. We call this Selective Factoring and it allows you to find your ideal balance of finances.
Benefiting business in the West Midlands
The West Midlands is a hub of business in the UK. Metal working industries formed the foundations of an important industrial location and different areas boast their contribution to the Industrial Revolution. From brass and lock working to coal and iron mining, the West Midlands has a history of business expansion.
Whether you’re a small independent business or a large corporate firm, Select Factoring can offer you ideal financial services.
In an area like the West Midlands, where manufacture is key, these funding solutions have helped companies continue with production even in difficult economic climates.
Contact us today to find out how invoice discounting can help you.