How Suitable is My Business?
Invoice finance companies require clients to meet certain requirements in order for them to be able to provide a successful service for your business. If your company does not fall within the general guidelines laid out below then it is still worth contacting us as all factors will look at cases individually and may make exceptions to generalised criteria.
Invoice factors will consider some start up and smaller businesses, although businesses with an annual turnover of £50,000 or less are likely to be discounted.
Factoring companies prefer to work with companies with a number of different customers and would prefer if you did not have one single customer account that made up over a third of your company’s turnover.
A company who sells directly to the general public rather than to commercial customers may not be suitable because of the level of invoices and the fact that the majority of invoices will be paid before goods are delivered.
Factoring companies maintain the highest levels of integrity with everything they do and will run a number of checks to determine your company’s level of service and reputation in the industry whilst completing their assessment. This is common practice in the invoice finance community.