Traditionally when entering into a full book factoring arrangement you sell your entire sales ledger to a factoring company, who will provide finance against this. The factoring company will take over all the credit control and debt collection. There may be several different charges to consider including Set up fees, Administration fees and Interest fees. Factoring facilities will also tie you into a long term contract, which can be for as long as 18 month to 2 years and which includes a notice period.
With Selective Invoice Finance from Creative Capital, you only finance the invoices you want to finance, when you want to finance them. You do not pay set up fees, you are not tied into a contract, and you look after the credit control and debt collection, allowing you to maintain your relationships with your key customers.
Posted in: CREATIVE INVOICE FINANCE