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On the up

News just launched shows there is an upward surge of Invoice Discounting and Factoring by 12%

Like most similar companies, Factoring companies offer a range of support to small and medium business in the form of funding. Year on year with is a 12% growth and its been increasing over the last 5 quarters, not only in North America but for the UK and Ireland, which gives the team at Select Factoring a nice warm fuzzy feeling. The other positive to this is showing that companies are not taking the full amount of funds available. So they’re not getting into debt and using funds sensibly. Some companies who were possibly in the grips of the recession, may have had to learn the hard way, so its nice to think there is an option for companies to raise funds, yet they’re still being money savvy.

As a whole, its seems a positive picture as total amount of client sales has gone up this year by 14%

All of this is great news for people like ourselves, it shows and increase in the number of companies using Factoring and Invoice Discounting to raise funds, growth in business and in confidence.

Even the action of using Factoring or Invoice Discounting shows the rise in sales for SME, it really is a funding solution that has become popular at the right time, enabling companies to avoid shutting down or bankruptcy.

This is a positive picture for the Factoring industry, and is a great simple solution. Why would you not look at factoring in the first instance if you’re in need of capital?

With the decrease in lending from banks, Factoring is such a great solution, yet still thousands of people don’t know about it, or are a bit scared of using such a solution, but simply you’re using your own money tied up in your invoices. No loans, no interest, no waiting for payment, its quick, its simple and its available 24/7.


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