Stop late payments and balance cash flow with 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 top invoice finance broker Touch Financial, to bring you a range of online quotes and a personal service.

Why choose invoice factoring?

• 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:

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

Setting up an invoice factoring facility

• Compare quotes from up to 20 lenders
• An expert will get in touch quickly
• Take independent advice
• Benefit from favourable rates and offers
• Get your invoices paid within 24 hours

About Touch Financial

“Here at Touch, we strive to do business in a more enlightened way. Quite simply, we believe that understanding each others’ business is crucial to success. We're not about a 'one size fits all solution', we're here to talk with you, listen to your concerns, and more importantly, we're here to support the future growth and stability of your business.
What's more, we do not charge for our service, as we receive an introductory commission from our panel of carefully selected lenders.”