Factoring Solutions

Factoring for recruitment companies has been the fastest growing as well as the favourite sector for factoring companies for a few years as the business is tailor made for invoice finance with invariably most recruitment companies having no other significant assets apart from their outstanding debts owing to them. Banks didn’t have an appetite to fund fast growing recruitment companies satisfactorily even before the Brumark ruling in 2001 or the more recent credit crunch but since then they haven’t even bothered to try and most recruitment companies now look straight to factoring or some other form of payroll finance for their funding requirements .

Asset finance in the form of equipment or vehicle finance or leasing can be used to raise funds for a variety of purposes including working capital, financial re-structuring or buyouts etc either by financing or re-financing plant and machinery. Our specialist area is the obtaining of asset finance including equipment and vehicle leasing for areas ignored by larger lenders and that includes new start companies, the re-finance of existing assets, buy out finance and companies with adverse credit history including those in CVA .

Spot factoring also known as single invoice factoring and selective factoring is relatively new to the UK but has been around much longer in the USA and elsewhere. Spot factoring is ideal for those companies who don’t need to factor all of their turnover and don’t need funding all of the time as the beauty of the system is that it allows companies to raise working capital against sales invoices as and when required without having to pay charges for funding that they neither need nor take up. Traditional factoring requires a company to submit all of it’s sales invoices to the factoring company.