Invoice Factoring
Imagine if all your customers paid you tomorrow. What difference would that make to your business?
Invoice Factoring advances up to 90% of your outstanding invoices the day after your raise them. Giving you cash to pay suppliers promptly and invest in your business growth.
Calverton Factors is in business to help owner-managed businesses and we are able to offer this service to young and growing businesses as well as more established companies. Key Features:
- With Invoice Factoring you will receive advances of funds against outstanding sales invoices.
- We will also manage the credit control and collect the payments from your customers.
- We can also assist you with credit insurance for your customers and protect you from bad debts.
How it works:
- You raise and issue your invoices in the normal manner and upload your sales ledger to us via our website.
- We make available to you an agreed percentage of the sales ledger (up to 90%).
- You let us know how much you wish to draw down and we transfer funds directly into your bank account.
- We then chase your customers and collect payments.
- Once a customer payment has been received then make available the 20% balance for you to draw down.
Charges:
- Charges are comparable to bank overdraft rates. There are two charges.
- Administration Fee: Charged as a percentage of the value of the invoice or as a fixed monthly fee.
- Interest charge: Charged against the funds that you draw down from your funding availability.
Why deal with us?
If you are unhappy with the depersonalised banking sector, constantly changing staff and never being able to talk to anyone, then you should be talking to us. We have been established for over 12 years and we specialise in providing facilities to owner-managed businesses. We are a friendly company with a family feel. Our staff and clients stay with us because we look after them and our pursuit of excellence in our service levels is unrelenting. We are open and honest with our charges and we are flexible and commercial in our decision-making. But most of all we listen to you. We are not driven by rules, targets or credit scores and will always try our best to put together a facility that matches your individual requirements and needs. If you would like a detailed quotation then please complete our Get a Quote page. For an explanation of any jargon go to our Jargon Buster page.