The Facts About 'Factoring'

For the friendly team at Working Capital Solutions no business is too small for factoring. So long as a business is providing goods or services on credit to other businesses, the Working Capital Solutions team can help them with a factoring facility which will allow their company a flexible overdraft that will grow with the business. Businesses can borrow up to 80% of the value of their invoices on an ongoing basis, usually while retaining any existing banking facilities that they may have. Working Capital Solutions can help a business from the first invoice that they send out, increasing the chances of any new business succeeding.

Factoring isn’t just about lending money – it’s a service. The team at Working Capital Solutions will send out statements and will chase the customers for payment, and from their experience businesses don’t like chasing payments as they don’t have time for it. A factoring facility allows a business to convert their debtor’s ledger to cash immediately, then forget about them, allowing the business to focus on growing their business, meaning that they will no longer need to beg their customers for precious cash flow before being able to make the next move.

Factoring is very flexible, meaning that a business doesn’t have to factor all of their clients. Single invoice finance allows people to turn individual invoices into cash at their discretion.  They are not locked into any term contracts and can fund only the invoices they want, when they want.  It’s that simple. Single invoice finance is a great idea for companies with only one or two large customers or intermittent cash requirements.
Working Capital Solutions also offer undisclosed invoice finance to qualifying customers, which is a very versatile product generally reserved for high turnover clients with a strong trading history. On an ongoing basis a business’s overall balances are submitted to the Working Capital Solutions team to make funding available, but the business is still responsible for the collections and their customers are not aware of the relationship.

Working Capital Solutions have learned from experience that because they are smaller, they are much more agile and able to make quicker decisions than their competitors. They started from scratch during the global financial crisis, so they understand what it takes to run a successful business. As they say “we are a small business, so we understand small business”, so for more information on factoring, please visit the website at http://www.workingcapital.co.nz