Invoice factoring is a great alternative for businesses that have just started trading, are growing quickly or cannot secure the traditional forms of funding from their bank.
It bridges the gap between completing a job and receiving payment for the work, thus improving cash flow. This means you are able to keep up with operating expenses, as well as have the funds to make bulk or early payments to suppliers.
In contrast with invoice discounting, Shire Business Group does all the legwork; you can focus on moving your business forward rather than chasing completed work.
Businesses will typically turn to factoring when they routinely have a lot of invoices outstanding and cash flow is suffering because of it. You might want to use invoice factoring services to bridge short-term expenses, repay a loan or take advantage of seasonal business opportunities.Get a Quote
While you’re powerless when it comes to making sure customers pay on time, invoice factoring - like other invoice finance solutions - guarantees that their invoices are paid within the time frame that you need the cash.
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