Factoring Solutions Blog News, views and gossip from the world of factoring, invoice discounting and trade finance

It has been announced that the parent company of Cattles Invoice Finance have put it up for sale and we understand that they are hoping to conclude a deal by the end of the year.

It is always a difficult time for the clients of a factoring company that has put itself in the shop window as they try and tidy up their portfolio as many of what they consider to be borderline cases are often terminated and others may see their rates increased in an effort to make the portfolio look as healthy as possible.

Needless to say until matters become clearer we cannot recommend Cattles Invoice Finance to any of our clients as we don’t know what the future holds for them.

Ian

Posted under cattles invoice finance

It was recently announced that The Forum of Private Business (FPB) had concluded an agreement to introduce their members to Cattles Invoice Finance as they claim to have negotiated special discounted rates with them.

One of the claims being made is that “the discounts we have negotiated with Cattles will save our members an average of £3,000 in the first year.” It would be interesting to know on what basis this claim has been made as the figure seems quite fanciful to ourselves.

Any member of the FPB who is interested in obtaining a quote for factoring or invoice discounting could well be advised to take them up on their offer and then contact ourselves to see if we can obtain a cheaper rate as we deal with all of the major factoring companies and aren’t just tied to one.

Posted under cattles invoice finance, factoring

According to the rumour mill Cattles have acquired London Scottish Bank. Whilst both companies are probably best known as sub prime consumer lenders they both acquired a pair of factoring companies along the way.

Cattles Invoice Finace is one of the larger independents whilst London Scottish Invoice Finance has earned a fine reputation for it’s service levels so it will be a shame if these service levels were to disappear in the quest for increased profits.

There is no doubt that there are too many players in the factoring market but it’s just a shame that it’s the smaller independents with the good reputations for service that are being gobbled up.

Posted under cattles invoice finance