Don't worry about your invoices with UK invoice factoring
Invoice factoring could help if you need business funding quickly, are having problems with late customer payments, or need a way to balance your cash flow.
Factoring is a type of business lending where the money you are advanced is borrowed against the value of your invoices. Simply Business has partnered with Aldermore Bank, to bring you a range of online quotes and a personal service.
Why choose an UK invoice factoring provider?
- You can regulate your income.
- Your loan is repaid each time a client settles their invoice.
- The facility grows with your business so no expensive overdrafts.
- Hand over sales ledger management to your factoring company.
- You have more working capital to put back into your business.
- Factoring is competitively priced
What does invoice factoring cost?
Factoring 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.
Setting up an UK invoice factoring facility
- Complete our simple form to receive a call-back from one of our experienced factoring specialists to discuss your requirements
- You will then be referred to one of the Aldermore industry specialists who can either provide you with a email quotation or a face to face appointment
- If you are happy with the quotation, Aldermore will then discuss with you the next steps to putting a bespoke facility in place for your business