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Factoring (or as it is sometimes known - Invoice Finance) is a flexible funding and collections service which releases cash tied up in outstanding customer invoices, bridging the cash flow gap between raising an invoice and getting paid.
In addition, as part of our factoring service, we can provide comprehensive credit control services which means, valuable time is saved as we chase and collect outstanding invoice payments on your behalf.
Improve your cash flow
Factoring boosts your cash flow by providing an immediate injection of cash into your business against the value of your outstanding invoices.
Each time you raise an invoice Bibby Financial Services will release a percentage of its value within 24 hours. The remaining balance, less a small fee will be paid to your business once your customer has settled the invoice payment in full. This provides both an immediate and ongoing supply of cash linked to your sales, So as your business grows so does the amount of funding available to you.
Spend less time chasing payment and more time chasing new business.
In addition to the cash that we provide, we can also save valuable management time. We provide a complete credit control service, where our dedicated and experienced team will:
- Prepare statements
- Telephone all your customers
- Chase and collect outstanding invoice payments on your behalf
- Maintain professional and detailed accounts of your transactions.
Always balancing the sensitivity of dealing with your customers with the need to collect invoice payments quickly and efficiently.
Stay in control of your finances
To help you stay in control of your customer accounts we can provide access to our fast, secure and easy to use online system which provides 24 hour access to your account information, enabling you to keep track of payments received and the amount of funding available to you.