Confidential Invoice Finance Facilities
Is it important to you that your facility is confidential? If so there are several invoice discounting and invoice factoring facilities available to you from a variety of invoice finance companies. These facilities are confidential meaning that your customers are unaware of any lenders involvement.
At Smart Factoring Quotes we understand not only what products will be available to you but also the capabilities of the lenders that offer these confidential facilities. To learn about confidential facilities please call us on 0845 863 0738
Why use a confidential facility?
Some of our clients feel that their customers will think less of them if they know that they are using a factoring or invoice discounting company. At Smart Factoring Quotes we do not feel that this is the case as the world of finance has changed a lot in recent years but we always try to deliver what our clients want.
Some customers will actually state in their terms and conditions that suppliers are not allowed to use invoice finance and as such a confidential facility may well be a way around this.
Whatever your reason for wanting a confidential facility please speak to us and we will explain what your options are.
So what confidential invoice finance facilities are available?
Confidential Invoice Discounting - this is perhaps the most well-known of confidential invoice finance facilities. It simply provides you with finance and no additional services such as credit control. Confidential invoice discounting allows you to upload bulk amounts rather than individual invoices and it allows you to keep control of your ledger as you do the credit control. As the name suggests it is confidential and customers are not aware of any lenders involvement.
Confidential invoice discounting is often referred to as CID and historically it could be quite hard to acquire with lenders forcing clients down the factoring route. However, the criteria for CID have become less stringent and it is more freely available.
At Smart Factoring Quotes we are experienced at sourcing Confidential Invoice Discounting for businesses of different sizes in many sectors.
Confidential Factoring - this allows you to still outsource your credit control to the factoring company but means that your customers will not know of their involvement. Letters and month end statements will be sent out by the factoring company on your headed paper. When they make telephone calls they will do so as if calling from your company. Incoming calls are to a dedicated line and answered as though it is your business.
Any communication from the factoring company to your customers is done in the name of your business.
Confidential factoring is a relatively new product within the market and as such the number of lenders that offer this is limited. At Smart Factoring Quotes we can help you source and structure a suitable facility.
Confidential CHOCS - a CHOCS facility allows you as a business owner to do the collections in the same way as you would with an invoice discounting facility. CHOCS stands for Client Handles Own Collections. However, with invoice discounting you notify the bulk amount of invoices you have raised whereas with Confidential CHOCS you notify each individual invoice in the same way as factoring. This is done electronically so the additional administration compared to CID is minimal. It operates the same as a factoring facility but means that you are doing your own credit control.
Let Smart Factoring Quotes help you.
If you require a confidential invoice finance facility please contact the team at Smart Factoring Quotes today on 0845 863 0738 or fill in our quick and easy quote form.
