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 opportunity in these difficult times we do not believe that schemes like this where an association is tied to a single factoring company is in the best interests of the manufacturing opticians (in this case).
Factoring and other forms of invoice finance are rarely as straightforward as it should be with quite significant operational differences between the various factoring companies and there is no “one size fits all” even in cases where all of the companies are in the same industry.
We also take the comment that preferential rates have been negotiated with a pinch of salt and would suggest that all FMO members put that to the test by having a word with ourselves once you’ve received your preferential rates so that you can see just how preferential they really are.
We are specialist factoring and invoice discounting brokers and not insurance or general brokers so for an informal, friendly chat with an expert, please contact Factoring Solutions on 01827 707680.