Compare invoice discounting UK providers to improve your business

Invoice discounting is a type of lending that gives your business control over its working capital and provides the opportunity for growth. The UK invoice discounting firm will advance you cash against your invoices and you retain control over your debt collection and credit control.

Your client doen't know that an UK invoice discounting firm is involved in the payment proces, making invoice discounting discreet and leaves your customer wit confidence about your company.

Simply Business works with Uk invoice discounting specialists Touch Financial to provide an expert, inpartial invoice discounting service. There is no set-up fee and if unsure about the benefits, you can trial a facility on a monthly rolling basis to make sure it is right for you.

Benefits using an invoice discounting provider in the UK

• When you issue an invoice you will know when it will be paid.
• No long term loan – the loan is repayed each time a client settles their invoice.
• The facility grows with your business so no need to keep increasing your overdraft.
• Invoice discounting is more competitively priced than overdrafts and conventional loans.
• You’ll have the capital to react more quickly to market opportunities

What does invoice discounting cost?

Rather than charging interest and arrangement fees like a bank loan, invoice discounting fees are split into two parts:

• A Service Fee covers the day-to-day servicing of your purchase ledger. This can be between 0.5% and 3% of your turnover.
• Interest is charged against the amount of each invoice, usually at a fixed percent above the factoring company’s base rate.

Setting up an UK invoice discounting facility through Simply Business

• Complete our simple form to receive quotes.
• Compare the quotes and then contact the factoring team at Touch Financial to discuss them.
• An expert will help you to decide upon the best facility and factoring company for your business needs.