Getting a factoring quote
There are many factors will help you decide whether you have confidence in a factoring company to factor invoices quickly and efficiently with as little risk of things going wrong as possible. If you do not have that confidence in any of the factoring companies you have selected then find someone else. This may take more time but your peace of mind is worth it in the end.
- Once you have arrived at a shortlist of factoring firms to ask for a factoring quote, contact them and ask them to visit your business premises.
- Note how quickly the factoring companies respond to you asking for a factoring quote and whether they arrive on time or not.
- When the factoring company are at your premises preparing for your factoring quote note how carefully they inspect your invoices. Are they knowledgeable about your particular sector and its cash flow needs.
- When they are preparing for your factoring quote, did the factoring company rep take the time to really find out what you want or what the problem might be with your cash flow?
Get a factoring quote today by calling 0800 597 4757 or get an instant quote by applying online
- Ask the factoring company when you can expect the factoring quote to be sent and note whether it arrives on time or not.
- Ask how long the factoring facility will take to set up and how soon after your approved factoring quote they can start factoring your approved business invoices.
- Please note that a factoring quote will always be based on the information you provide to the factoring company.
- Ask the factoring rep for a guideline quote whilst he is at your premises.
- Make sure you fully understand the factoring quote including any other hidden or additional services.
- If you are not happy with your factoring quote then consider talking to a factoring broker. A factoring broker can search the entire factoring market for you and pick the most suitable factoring facility your business.
- The final piece of the factoring selection process is the price. If the factoring quote is too high, it may be worth talking to the factoring company to see if there is any way that costs can be cut. There may be a cheaper, if less satisfactory way getting a factoring facility. You may have to forego some of the value added services and maybe consider offering a personal guarantee. Please note that every businesses needs are different.
Get quotes from UK invoice factoring companies by calling 0800 597 4757 or submit your factoring requirements today and we’ll get back with fast. Out factoring experts will be able to offer free quotes from a range of invoice factoring companies in the UK.
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Industry Specific Factoring Options
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