RBSIF Bank Owned Factoring Companies We have been receiving an alarming number of enquiries from clients of RBS Invoice Finance complaining that the goalposts have been moved with factoring facility limits slashed as well as a number of other actions taken that were designed to reduce the amount of funding available. Yesterday’s enquiry was from […]
Factoring Agreements The Chief Executive of the British Bankers Association together with Lord Mandelson told the first meeting of the Government Small Business Forum two days ago that: “The UK’s leading banks are committed to helping Britain’s businesses to weather the economic downturn” and that: “The UK’s banks want to see their customers flourish even […]
Well it is according to one of the major high street bank owned factoring companies who have been sending out letters to their clients increasing their charges due to rising costs. They even mentioned the increase in fuel prices specifically.
Help with the Choice of Invoice Factoring Company [Video] Choosing an invoice factoring company is something that Factoring Solutions recommends is done with due care and attention and they have now produced a video giving details of some of the pitfalls and problems awaiting those that choose the wrong factoring company.
Finding the Most Suitable Factoring Companies We had an enquiry yesterday for spot factoring / single invoice factoring and having discussed the nature of the company and it’s precise requirements we recommended one particular spot factoring company as being the most suitable for their particular requirements. The company wanted the initial discussions to be done […]
Factoring for SMEs Another factoring company is set to launch a product specifically aimed at the smaller company with the key points being:- Rolling one month agreement No minimum fees Single bundled fee with no separate interest charge No concentration limits Maximum funding of £50,000 If you feel that your company could benefit from factoring […]
The Independent Factoring Brokers Association is about to be launched to add a layer of transparency to an industry containing too many vested interests. The three founder members will be announced shortly with membership available to all factoring brokers who meet the strict criteria of independence and transparency. The website is at http://www.factoring-broker.org.uk/ but currently it is […]
Adminstrators were appointed to The New Millennium Group Ltd at the end of April claiming that they: had encountered difficulties after seeing levels of demand for recruitment services in the banking sector drop, as well as issues around meeting its rent obligations We understand that the company has subsequently been sold although the press release […]
Factoring Statistics (2012) The factoring companies’ trade association has recently released statistics showing the numbers of companies using factoring and invoicing discounting increased in the first half of 2012 to just under 43,000. Nearly 75% of the increased number of clients came from companies going down the invoice discounting route with factoring clients showing a […]
How do people decide which factoring company to go with? Amongst the factoring enquiries received in March were a couple that decided not to go along with our recommendation. The first was a new start recruitment company and having discussed his requirements extensively we introduced them to a factoring company known for their high service levels having […]