Why use an invoice finance broker

Any search of the search engines like Google, Yahoo and Bing will return a plethora of invoice financing companies. How do you choose the right one?

Those operating in the invoice finance industry can be categorised into three main types of companies. There are, Independent brokers, bank owned invoice finance companies and then there are also independent factoring/invoice discounting companies.

Independent finance brokers (like ourselves) are a good place to start. An independent broker is not tied to any one organisation and therefore is able to offer impartial advice and support. Independent factoring & invoice discounting companies provide the actual funding and service themselves and are independent in that they not bank owned. Bank owned invoice finance companies are in business to promote their own products and as such may not be aware of, nor able to recommend the best facility for your circumstances.

A good independent broker will know the factoring and invoice discounting market inside out with experience garnered through industry reports, news and contacts and more importantly, feedback from those who actually use invoice finance.

As such, an independent finance broker (shameless plug alert: such as Factoring Finance ltd) can base our recommendations and support on your particular circumstances such as length of time trading, profitability, turnover, quality of your debtor book, the industry you operate in and if need be location, in order to select a pool of suitable invoice finance providers. Then that list can be further reduced to find not just the best deal price wise but to give you feedback on what levels of support various providers offer, how others rate their customer service for example and what other options, facilities and resources are on offer.

Factoring Finance research the market for you and using our 30 plus years of experience then recommend two to three providers that can offer the same or similar deal so you can then get a feel for which invoice finance company you would be best suited to work with.

For more information on Factoring, Invoice Finance, Invoice Discounting or other Commercial Finance please feel free to browse through the site, read our blog about the industry and get in touch if you have any questions. We have an extensive, independent, UK wide broker network and access to sector specialists, helping find you the deal that’s best for your needs.

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