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Anybody used invoice factoring?

Discussion in 'Introductions' started by georgelopez66, Sep 23, 2009.

  1. georgelopez66

    georgelopez66 New Member Webmaster


    I am looking into invoice factoring so that my cash flow is better, has anybody used this before? I was wondering how much percentage do the average bank take for doing this and if it worked out a good thing for other businesses.
  2. financePhill

    financePhill New Member Webmaster

    Invoice Factoring can be a good solution to business cash flow issues, however, there are a few things to consider first and criteria to meet. I sometimes refer to it as a bit of a Marmite product some people love it some hate it.

    Typical charges for a full factoring solution can be between 1 - 2% service fee and the discount charge (i.e. rate at which you borrow the money at) can be any where from 1% - 4% over Base or LIBOR dependent on provider.

    If you have more detailed questions you need answering privately please - PM

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