Factoring and Invoice Finance Breaking Records

Figures for the third quarter of the year show that companies using factoring and invoice discounting facilities generated sales of more than £71bn which is the strongest ever quarterly performance and a 14% increase on the same period last year.

The 43,000 companies using invoice finance had total advances out to them of £17.4bn which again is a significant increase over the comparable period in 2012 and compares very favourably with bank lending to the SME sector which continues to decline.