- Factoring is suitable for most businesses in the manufacturing, business services and distributive trade sectors in the UK and any other businesses selling goods and services to other businesses on normal credit terms.
- Ideally you should have a turnover of £100,000 but, there are a few Factors, who will go down to £30,000 per annum. There is no upper limit.
- No company is excluded, even those making trading loses or which have a negative net worth. This is because the Factoring Company's security is primarily your customers (through your Invoices) as well as yourself. As a result Factoring facilities are available to Sole traders, partnerships, limited companies, Plc's, new start-ups and even businesses in an IVA or CVA plus phoenix situations. PAYE and VAT arrears are also not usually a problem.
- Just as importantly, Factoring provides a complete Sales Ledger Management Service to those businesses that need it. Many businesses often find they do not have the resources to employ full time credit controllers or collection staff. Factoring overcomes this problem.
