An increasing number of firms are turning to factoring companies in Edinburgh. Factoring is one of the quickest ways for firms to borrow money. This means business do not have to fill in reams of forms, create a business plan or wait for weeks for a proposal to be considered, only to be, ultimately, rejected.
Borrowing money through invoice factoring can help with cash flow, or ensure that wages are paid, even during a tight month.
Suitable for any company
Practically any kind of business can borrow using factoring companies. In Edinburgh, dozens of start-up firms, as well as well-established firms, get help from us at Invoice Finance to give them the cash flow they need to, for example, buy the raw materials to take on a large order.
How it works
With invoice factoring, firms are borrowing against the money their customers are due to pay them. For example, if a customer owes a firm £1,000, that firm could come to us and ask for a loan against those invoices. We will lend up to 90% of the value of the outstanding invoice, in this case up to £900, and do so quickly and for a low fee.
Virtually every company has outstanding invoices they can borrow against, so this is the most widely used way to borrow money from factoring companies. In Edinburgh, if businesses are looking for an experienced factoring firm, we at Invoice Finance Scotland can help. We offer ways for companies to borrow money against other assets such as buildings, current stock, large orders and plant machinery.