Top invoice factoring companies
Top invoice factoring companies can offer a range of high-quality services to match your needs. Compare quotes and find a top supplier today
Invoice factoring companies help businesses of all shapes and sizes to unlock funds that are tied up in outstanding customer invoices. Essentially, this allows businesses to access the value of an invoice before it is due to be paid.
Enlisting the help of an invoice factoring company will not only allow you to access and unlock capital that is trapped in your unpaid invoices, but it will also allow you to free up money to manage your cash flow more effectively. Of course, it also means that you won’t have to look at other ways of raising funds to cover your cash flow, such as extending your overdraft or taking out a costly loan.
Invoice factoring involves selling your invoices at a discount price to a third party company, in order to fund cash flow or access money to pay outstanding business debts. The process involves entering into an agreement with your chosen factoring company, whereby the company agrees to manage elements of, or all of your credit control.
The factoring company not only takes full responsibility for collecting the outstanding invoice but they also provide advanced funds when the invoice is issued, usually around 70-85% of the total amount owed. Once the end customer pays for the invoice, the factoring company will then pass the remaining fees to the customer after they have deducted their fees.
Whether you’re a small or large scale company, there are many advantages that come hand in hand with using an invoice factoring service, allowing you to free up much-needed funds. And it’s not just independent factoring companies that offer this service, independent finance providers and banks offer it too.
We’ve created a helpful guide outlining everything you need to know about invoice factoring companies. From what makes a top invoice factoring company, through to introducing you to some of the best factoring companies around, by the time you’ve read this guide, you will have a better understanding of how to choose an invoice factoring company.
What businesses should look out for when choosing a top invoice factoring company
Before choosing an invoice factoring company, there’s an awful lot to consider and it’s crucial that you do your homework to ensure that invoice factoring is the right solution for your business requirements.
There are a number of different factors to consider, including their fees, relevant experience in dealing with your industry, value-added services, and integrity.
At the same time, you should also take this opportunity to check any relevant penalty information. For example, the vast majority of factoring companies require their clients to sign long-term contracts, which often have a bespoke set of criteria that all clients must abide by. This is super important as failure to abide to this criteria could result in serious penalties.
Top Invoicing companies
Looking for invoice factoring companies? You’ve certainly landed in the right place…
However, before you choose an invoice factoring company that will complement and enhance your day-to-day business operations, there are a few things that you should look out for.
Firstly, there is a vast range of factoring companies out there however, before you start exploring your options, it’s important to recognise that not every invoicing company offers the same level of service or funding options.
With this in mind, there are a few things to look out for when choosing the perfect invoice factoring company for your needs, including the level of service they offer, their terms and conditions, their products and services, the company’s credit control service, and their fees.
And, if you’re struggling to find a suitable invoice factoring company, don’t worry. We’ve compiled a list of some of the best invoice financing companies operating within the industry.
The list below includes some of the top UK invoice factoring companies operating in the UK:
- Ashley Business Finance
- Skipton Business Finance
- IGF Business Finance
- MarketInvoice Business Finance
Continue down the page for more information about each of these suppliers.
Ashley Business Finance
Armed with over 25 years of industry experience, Ashley Business Finance has continued to go from strength to strength.
Dedicated to providing a wide range of financial solutions to small businesses, Ashley Business Finance understands the pressures that can sometimes come hand in hand with running a startup or small business.
With this in mind, they provide a variety of different financial solutions, to a diverse range of businesses operating in different sectors, including those that many lenders overlook. Their range of services have been designed to keep your cash flowing, whilst providing a cash injection to fund and develop different areas of your business.
One of their main services is Factor Plus. Allowing you to get paid now for your invoices and repay Ashley Finance later, this service provides an advance on your unpaid invoices. And the process couldn’t be easier. Following three simple steps, all you will need to do to get the ball rolling is apply online.
Factor Plus benefits a wide range of businesses when it comes to successfully managing their cash flow, including security firms, recruitment agencies, manufacturers, taxi firms and engineering teams.
Freeing up money from your unpaid invoices quickly and efficiently, this service will also allow you to take advantage of a repayment agreement that works alongside the pace of your business. And payments are also automatically deducted from your availability, so you don’t have to worry about finding money each week for fixed repayments.
However, there is a set of criteria that you must be aware of before applying for Ashley Factor Plus. For example, your business must sell on credit terms, you must sell business-to-business sales and you must be based in England or Wales.
Skipton Business Finance
Skipton Business Finance is recognised as one of the UK’s premier invoice financier, providing SME businesses with capital that works for them through flexible Invoice Finance solutions, including Invoice Factoring, Invoice Discounting, My White Label and the company’s interest-free Skipton Select solution.
Providing working capital that varies from £25,000 to £5,000,000, Skipton Business Finance is a well-known invoice factoring company that allows businesses to access working capital as soon as an invoiced has been issued the customer.
But that’s not all… every finance solution that Skipton Business Finance provide can be tailored to meet your individual business requirements.
As part of their invoice factoring service, funds could be released to you within as little as 24 hours. This means you won’t have to wait 30, 60 or even 90 days for your customers to pay you.
Designed to release money you have already earned straight away so that you can stay on top of your cash flow, invoice factoring from Skipton Business Finance allows you to draw up to 90% of the value of an invoice as soon as it has been sent onto your client!
And of course, one of the main benefits of this service is that you will then have the security that you have always got money in the bank, leaving you free to concentrate all of your efforts on actually running your business. After all, business development is essential to business growth, especially during the early stages of launching your business.
So if you have got cash flow worries, contact Skipton Business Finance today to find the right solution for you.
IGF Invoice Financing
Dedicated to “funding the growth aspirations of UK businesses” IGF Invoice Financing provides working capital solutions that have been designed to help both small and medium-sized businesses to accelerate their growth and take their business onto the next level.
Providing a fast, flexible and supportive service, IGF Invoice Financing provide invoice factoring solutions that are ideal for improving your cash flow, growing your business and helping you to transform your cash flow in a way that enhances your day to day business operations.
As part of their invoice factoring service, you will be able to enjoy the many benefits that come hand in hand with flexible factoring funding, as well as a professional credit management service that works for you.
After all, having large sums of money tied up in your business can be hugely detrimental to your cash flow, especially if you’re a small or medium sized business where cash flow is likely to be a concern at some stage.
Factoring from IGF will allow you to enjoy a whole host of benefits including the freedom and confidence to grow your business in a way that works for you, whilst enjoying a constant stream of finance to drive your business forward.
But that’s not all…, this service also helps to free up your cash flow, as well as yAour time. Once your application as been approved, you could receive up to 90% of the value of your sales invoices almost straight way – giving you the boost you need to concentrate of running and growing your business without having to worry about cash flow!
For a fast decision on funding or for further information on how invoice factoring could help you, make sure you check out their website today!
Marketinvoice Ltd prides itself on offering flexible financial solutions that are “changing the way businesses fund their growth.
Allowing small businesses to concentrate all of their efforts on accelerating their growth without having to worry about cash flow issues, Marketinvoice Ltd off a wide range of funding solutions that have been designed to help UK businesses to get funding quickly and easily when they need it most.
And their confidential invoice discounting solution is ideal for those looking to free up cash they are owed from unpaid invoices quickly as possible.
Supporting businesses that require on-going support when it comes to managing their cash flow effectively and efficiently, this service easy to use, incredibly fast and a great fit for small and medium-sized business.
This service will also allow you to you to request and withdraw funding on the same day, enjoy an easy to use online platform which reduces the need for admin, as well as straightforward costs with no hidden fees and a personal service that will allow you to enjoy the many benefits that come hand in hand with having a dedicated account manager to manage all aspects of your account.
Marketinvoice Ltd is a company that also adapts all of their financial services to meet your individual business requirements. Taking the time to really get to know your business, and how every element of your product or service works, the team then identify the best solutions for your needs.
The process also couldn’t be easier to follow! To get the ball rolling, you can either fill out the Marketinvoice Ltd application form or speak to one of their funding specialists. You will be asked a number of basic question and information about your company. Once Marketinvoice Ltd has everything it needs, a member of its team will come back to your with a decision and a quote within as little as 24 hours.
Compare top invoice factoring companies today
The information on this page should help you to understand what invoice factoring companies can offer to you; to find out more though, you should speak to suppliers – Startups can help with this.
To compare invoice factoring quotes from top UK suppliers, simply complete the form at the top of this page. We can use your details and specifications to match you to the best possible factor. This process is free, quick and easy, and could save your business both time and money.