Factoring and invoice discounting for companies that have been miss-sold rate swaps Companies that feel that they have been miss-sold rate swaps are in a difficult position as they seem to be unwilling to take action against their bankers for fear that the bank might withdraw it’s support. Some of these companies are looking at […]
Category: News
Factoring for Federation of Manufacturing Opticians Members
Invoice Finance and Factoring for the FMO The Federation of Manufacturing Opticians (FMO) has recently announced a scheme for it’s members claiming to offer preferential rates for it’s members in conjunction with Bibby Financial Services. Whilst not wishing to cast any aspersions on the factoring company who have just taken advantage of an excellent marketing […]
Small Factoring Company Acquisition on the Cards
Another small factoring company to disappear? 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 Finance is one of the larger independents whilst London Scottish Invoice Finance has […]
Another Factoring Company for Sale ?
It has been widely reported that London Scottish Bank is thinking of selling it’s factoring subsidiary in order to raise funds to repair it’s own capital base which seems to be no longer adequate under the new Basel 11 rules. London Scottish Invoice Finance is one of the smaller factoring companies but has an enviable […]
Factoring Industry Still Growing Strongly
Factoring Industry Stats Factoring and invoice discounting companies advanced more than £13billion in the first quarter of 2007 with close on 48,000 UK companies now using this method of finance. Manufacturing has historically been the largest industry sector in the 40 years that factoring has been around in the UK but it has finally been […]
Ultimate Finance Increase Business by 50%
Ultimate Finance PLC have just announced their preliminary results for the year ended 30th June 2006 and they appear to have made substantial growth with 131 new clients being taken on in the year bringing their total number of clients to 230. Client sales financed was up 49% from £82.5m in 2004/05 to £123m. Turnover […]
The State of the Factoring Marketplace
Factoring Marketplace The factoring marketplace seems to be changing with far less activity happening than in the past. Companies looking for working capital to fund expansion are few and far between as few companies are expanding at the moment and with many of the major factoring companies losing large numbers of clients due to their […]
Factoring for Small Companies – What we can do for SMEs
Factoring for Small Companies There are factoring facilities available for smaller companies – typically with an annual turnover of less than £300,000 and funding requirements of less than £50,000 available on very competitive terms. To make life as simple as possible there are no set up charges and rather than separate charges for factoring commissions […]
Non Bank Lending at it’s Highest for Five Years
Other lending trending upwards As bank lending continues to decline it has been reported that asset based financing to the SME sector, including factoring and invoice discounting, is on the increase according to an article in today’s Financial Times. The chief executive of the finance brokers association claimed that “there was still a lack of […]
Factoring and the Credit Crunch
Although it seems that the big bank owned factoring companies are feeling the pinch at the moment the level of enquiries being received by Factoring Solutions is still being maintained. It is traditional in times like this for the larger companies to tighten up their own liquidity by slowing down payments to suppliers and this in turn […]