Finance Solutions
At Smart Factoring Quotes our expertise is not limited to Factoring and Invoice Discounting. We are well versed in other cash flow solutions such as asset finance and asset refinance.
Our focus is always the improvement of your cash flow and the reduction of finance costs. Importantly we always focus on what your business requires and what you want.
Let’s take a look at the potential finance solutions that may assist your business:
Invoice Finance
Invoice finance is an umbrella term for the types of facilities that generate cash against unpaid invoices. Specific products that fall under the banner of invoice finance include invoice factoring, invoice discounting and CHOCS.
Invoice Factoring
Often referred to as just factoring, invoice factoring will generate up to 90% of the value of your unpaid invoices as cash for your business. It is readily available for established businesses and new start businesses alike. Importantly, it can be used by businesses that might not have a great track record as it’s availability rests more on the people you are dealing with and the systems you have in place rather than your own businesses financial performance or credit history.
Typically factoring is disclosed so your customers are aware of a lenders involvement although there are now confidential facilities available. Factoring also includes an outsourced credit control service.
Invoice Discounting
In a similar way to factoring, invoice discounting generates cash against unpaid invoices. It will generate up to 90% of the value of unpaid invoices.
When compared to factoring it can be harder to obtain and typically requires a business to be well established and profitable. That said, there are lenders with less strict criteria.
Invoice discounting is typically confidential and does not include a credit control service.
CHOCS
This is a type of hybrid product and in terms of service it falls between factoring and invoice discounting. It is typically a disclosed facility but allows the client to do their own credit control.
CHOCS stands for Client Handles Own Collections.
Asset Finance
Asset finance is often used by businesses to smooth cash flow. It spreads the cost of the asset over a suitable term and id structured properly it is repaid by way of a manageable monthly payment. There are various asset finance solutions available depending upon your requirement.
Asset Refinance
This can be an excellent way to generate cash against the assets that your business already own. You are simply borrowing money secured against the value of the assets within your business and repaying this on a monthly basis. Typically suitable assets are what we call ‘hard assets’ and include vehicles, plant and machinery and other durable assets.
Whatever your business requires there is a strong likelihood that Smart Factoring
Quotes have a solution that can help you achieve your goal.
Contact us today on 0845 863 0738.
