Commercial finance is a complicated area requiring specific skill and experience to find the right deal, something which has proven even more apparent in the current market. If your business needs finance, Streets SPW have access to a respected panel of lenders.
What is Factoring?
Factoring is a comprehensive funding and credit management facility that is directly linked to your outstanding sales invoices.
Releasing up to 95% (subject to meeting lender criteria) of the value of your invoices, this flexible form of working capital finance can be used as and when you need it, giving you the freedom to concentrate on growing your business.
As part of the factoring agreement, the factor will provide the full support of a relationship manager and a credit management team that will liaise with your customers and manage the payment of any outstanding invoices.
You will also have access to your own online account so you can view your facility whenever you need to. If you are a business that sells goods or services and you do not have the time or resource to follow up on unpaid invoices, then factoring could be right for your business.
What is Invoice Discounting?
An invoice discounting facility releases cash tied up in your sales ledger without the painstaking administration of a traditional solution. It is a flexible and cost-effective way for larger profitable businesses (typically above £1m annual turnover) to improve cash flow. Many businesses like the anonymity offered by invoice discounting. With invoice discounting, your customers need never know that you are using this service.
Immediate cash availability linked to your sales means the level of funding available grows as your business grows. You remain in control, calling on as much or as little of your financing facility as you require. You retain direct relationships with your customers and manage the administration of your sales ledger.
The invoice discounter will assign you with a relationship manager who will take the time to understand your business and its specific requirements. Access to your online account gives you accurate and up-to-date information, ensuring you are always in control of your business.
Whether it is a factoring agreement or invoice discounting facility your business is looking for or perhaps funding for plant, stock or property purchases, please speak to the team at Streets SPW now.