Compare Factoring Quotes In 3 Easy Steps

Invoice Factoring is a flexible form of cash flow funding, providing you with immediate access to cash you’ve already earned. A lender will advance you up to 95% of the cash tied up in your unpaid invoices, as soon as they are raised.

In addition to providing immediate access to cash you’ve already earned, a lender will also manage your sales ledger, credit control and payment collection. Providing you with more time to generate sales and manage your business.

Factoring can also act as a confidential service, so your customers never need to know you use  the service!

Unlike other forms of finance, such as an overdraft or business loan, Factoring typically requires little personal security to secure finance. This is due to Factoring being secured against future income, i.e. cash you’ve already earned.

Touch Financial is the largest Invoice Factoring broker in the UK. We help over 650 businesses and raise over £2 million in funding every month. The key to our success is simple:

We search the market, introduce you to the most suitable lender, help you get your money quicker and better still we won’t charge you a penny!

Benefits of Invoice Factoring

  • Try before you commit – Touch work with lenders who offer a 30-day rolling contract!
  • Flexible finance – The amount of finance available will grow in line with your turnover, i.e. the more invoices you raise, the more cash is available.
  • Less personal security – As finance is secured against cash you’ve already earned, Invoice Factoring usually requires less personal security than other forms of finance.
  • Optional bad debtor protection – Available from most lenders, bad debtor protection is designed to protect you from customers who are unable to pay their debts.
  • Free expert advice – lenders make excellent consultants as they work with a number of clients and are always happy to provide advice where possible.

How Invoice Factoring works in three easy steps…

  • Step 1 – You provide goods or services to your customers and send an invoice to both the customer and lender.
  • Step 2 – A lender will then make a pre-agreed percentage of the invoice value available. A lender will typically offer an 85% advance, although 95% is available from some lenders.
  • Step 3 – Once the lender has collected payment from your customer they will return to you any money owed to you, minus cash already advanced and any fees.

Are you eligible to use Invoice Factoring?

Invoice Factoring could be suitable for your business if you have cash flow issues or would like to grow your business by having more cash readily available. You could be eligible to use Invoice Factoring if you can answer yes to the following questions:

  1. Do you raise invoices to other businesses?
  2. Is your projected turnover for the forthcoming year more than £50,000?
  3. Do you offer credit terms between 30-120 days?
  4. Is your business based in the UK?

How Touch can help you find the best deal for your business:

  1. We search the market – we’re partnered with over 20 of the UK’s leading lenders. We know what each lenders sweet spot is and who offers the best rates.
  2. Introduce you to the most suitable lender – once we understand your business we will short list and recommend two or three lenders best suited to your requirements.
  3. Provide ongoing support – our team of experts will keep in regular contact to ensure everything is running smoothly
  4. We won’t charge you a penny – our expert advice is completely free and there are no hidden fees, this is possible as we receive commission upon successful introductions – much like a mortgage broker!

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