Confidential Invoice Discounting
Cashflow is always a headache for young and growing recruitment companies. Workers must get paid on time but clients will normally expect to pay in 30 days or later. Calverton Factors provides specialist support to recruitment companies. We bridge the cashflow gap and make sure that you have the funds to pay workers and take your margin.
Confidential Invoice Discounting is now seen as a competitive alternative to bank overdrafts.
The facility is superior to overdraft in a number of ways; it normally provides more funding, there is no need to constantly renegotiate limits, there is no requirement for charges on personal property and the finance charges are very competitive.
Note: Invoice Discounting has historically been reserved for larger and established businesses. Calverton Factors are specialists in the recruitment market and we are able to offer this service to young and growing recruitment businesses as well as more established companies.
Key Features:
- With Invoice Discounting you will receive advances of funds against outstanding sales invoices.
- You manage the credit control and collect the payments from your clients.
- The facility is confidential which means that your clients do not know about the invoice discounting.
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 80%).
- You let us know how much you wish to draw down and we transfer funds directly into your bank account.
- You chase the clients 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 are a long established company and we specialise in providing facilities to owner-managed recruitment businesses. We are a friendly company with a family feel. Our 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 to talk to us about Confidential Invoice Discounting and how we can help you then please call us directly on 01908 268888 or if you would like a detailed quotation then please complete our Get a Quote page.