The week completed 13th November, 2015

Factoring Partners

Factoring Partners can save you time & money!
Factoring Partners can save you time & money!

As Factoring Partners enters its 20th year of trading this week looks at types of finance raised and the capabilities now.

Back in 1996 the very first business assisted was an importer and distributor of footwear with funds raised enabling purchase of a consignment from (I think…memory fading) Portugal. The second business was a facilities management business providing repair/remedial work to local authorities and councils. This business remained a client for 15 years.

The first two clients very much reflect what happened subsequently with some clients seeking relatively short term finance to assist with a specific transaction whilst others bought into long term relationships.

Over 50 different financiers have been used and we remain capable of offering businesses an entire appraisal of the commercial finance sector. This is attributable to our independence, many competing brokers are effectively tied to a limited collection of lenders given the reciprocal nature of relationships they have.

We have sourced and placed asset finance (from trains to cars to heavy machinery), property finance (from owner occupied to rented), invoice finance, trade finance, export finance and, most recently, short term finance for a retailer.

Businesses helped cover an enormous range in terms of activity (all manner of manufacturing, distribution, importers etc) and by way of size go from a £50m t/o (annual) business down to £25k.

As mentioned in previous blogs there are plenty of lenders, from the generic (who will write most facility types, such as the banks) to the highly niche. Our job is to know as many as possible to facilitate the most appropriate referral. Lenders continually change their credit policies and again it is our job to keep up to speed, the aim being to save businesses time and money in their quest for finance.

We can source business finance same day (seriously, up to £120,000) or work to time scales as dictated by the enquirer.

In 1996 when Factoring Partners first started the internet was very much in its infancy and the capabilities it brings to businesses, at that time could not be imagined. Whilst communication and marketing methods have changed materially in the last twenty years one constant that remains is the need a business has for cash and that is where Factoring Partners can and does help.