News & Blog

Contact Us

UK demands more financing options

It’s incredible, that despite the solutions we at Select Factoring and other lenders offer, the UK has still not caught onto the benefits of using this way to finance their business.

In today’s news, it seems invoice discounting only accounts for 5% of business funding! Which is incredible. Only half of SME’s use external funding to help their business grow.

These figures are quite frustrating, especially as a Factoring Lender, we are so passionate about our services and funding solutions, the word needs to be spread.

It might be that some SME’s have never heard of factoring, invoice discounting, asset based funding. They may have heard but know little about the processes or they are sceptical about the solutions.

The fact of the matter is, factoring is simple, quick and efficient. It allows you to gain capital within 24 hours, even banks don’t work that quickly. Factoring is also a cost effective solution compared to the interest you could pay on a business loan, in fact, factoring is a tiny fee compared to paying years of interest.

Factoring doesn’t just mean that you have immediate cash flow, it means that your business can grow, even in the current economy, if you products and services are in demand, yet you;re finding a struggle to meet those demands because of staffing, equipment and machinery, factoring allows you to employ and pay staff, purchase more materials and machinery which will enable your business to cope with the demands of new clients.

Factoring can aid you if your company is required to ship products overseas. It provides you with the cash you need to pay shipping fees and it can also gain you capital whilst you wait for payment from overseas clients.

So you see, factoring is an incredible solution to a range of cash needs, if only everyone knew how fantastic it is!

 

Related Posts

Comments(1)

  • Posted by Jeremy Preet on November 20th, 2011

    I agree, I never heard of factoring, invoice discounting, asset based funding terms before. After I learn about it today, I’m wondering how its process and solution works. Good thing, I came across this post.

Leave Comment




Helping your business grow

Contact Us
Contact Us

|T 07578561997