Factoring means different things to different people and as a word is used to cover a multitude of products all designed to help business.

In its origins the word factor means simply someone who acts on someone else's behalf, as an agent. When Factoring arrived in the UK as a business tool, in the early 1960's, Factoring was based on rudimentary collection services (as an agent) offered to businesses with a funding facility that was not always generous.

Whereas nowadays Factors will offer up to 95% (and in some cases be prepared to go to 100% or even 'overpay') in the early days 60% was typical. Choice was virtually zero and if a bank said 'Factor' its own subsidiary was given the job. Consequently Factoring developed something of a bad name, all but eliminated through product development, competition and a general acceptance that Factoring is a valuable tool in the business's armoury.

With development of a basic product came jargon and there's lots of it! Jargon complicates what is essentially a simple product, invoices paid up front with admin if you want it!

Please though feel free to contact us directly. It's all very well to get a quote for Factoring through a bank sponsored automated quotation system but if it's not clear what that quote is for then it's all rather pointless.

So if you want to know your CHOCC (Client handles own credit control) from your CHAPS (Clearing House Automated Payment System), Recourse Factoring (no credit insurance) from Non-Recourse Factoring (with credit insurance), CID (confidential invoice discounting) from DID (disclosed invoice discounting).................etc etc........................then please have a look at our jargon page which explains a few (but not all) of the strange expressions used by Factors.

Alternatively please get in touch and remember Factoring Partners don't charge anything being paid by Factors for successful introductions.

Factoring Partners has been helping businesses for 10 years now with hundreds of companies enjoying greater funding levels. Factoring Partners can offer impartial opinions on the merits and suitability of services offered, and cut through the jargon, explaining clearly how the facility will work.

Factoring Partners is independent of any Factor and receives no retainers from Factors so can safely say 100% independent!