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When your sales ledger paints a rosy picture but your cash flow doesn't, it could be that you need an injection of working capital to keep things ticking over.
This is where factoring from Barclays comes in, and while its prime benefit is to credit your account with cash much more quickly, it has other advantages as well. You have the full resources of Barclays to manage your creditors; you can cut administration costs; and we can even help to protect your business against the risk of bad debt.
Why factoring?
- We can pay you up to 85% of the value of approved invoices within 24 hours**
- We run your sales ledger and credit management
- If needed, we can offer debt recovery litigation services
- You can accept the risk of non-payments by customers, or let us take on that risk instead
- Factoring can provide more finance than traditional overdrafts
- Quick and easy operation, with online access to your sales ledger.
Is factoring right for you?
Factoring is designed for businesses forecasting sales of at least £100,000 a year, in multiple currencies, with a spread of debtors. You’ll be selling goods or services on normal credit terms, with no stage payments.
We have many factoring customers from across a range of business types, including:
- Distributors
- Printers
- Business services providers
- Manufacturers & wholesalers
- Transport firms
- Employment agencies.
For more on factoring and what Barclays can do for your business, download our Factoring Factsheet***
You may also find it useful to look at the work of Factors Chain International.
Factoring adds real value to thousands of firms in the UK. Your customers will be aware of Barclays’ involvement; if, however, you’d prefer similar benefits but with greater confidentiality, Invoice Discounting may well be for you.
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