Apply for Invoice Factoring

Simply complete this form to apply for Invoice Factoring, we will get back to you right away.

No Credit Score Needed!

It takes less than a minute to apply.

Apply for Invoice Factoring

Invoice Factoring - Apply for Invoice Factoring - Invoice Factoring Deals

Invoice Factoring Calulator

*** This calculator and the values it displays are only to be used as guidelines. The figures that invoice lenders use to calculate finance change on a daily basis and the invoice factoring lenders fees vary from lender to lender. ***

To get the best invoice factoring deals and the most accurate quotes, fill in your details on the form above and our team will get back to you with the best invoice factoring quotes tailored to your requirements.

The Basics of Invoice Factoring

Exchange unpaid invoices for Cash.

Must be a UK based company.

Get paid within 24 hours.

Must invoice business clients.

No credit score needed.

Turnover of at least £50k pa.

Factor company collects payment.

Must have valid unpaid invoices.

Invoice Factoring Requirements

Turnover over £50,000

One of the main requirements needed for invoice factoring is to have a turnover of at least £50,000. Preferably your turnover will be over £100,000 per annum but if it’s less we may still be able to help.

Invoice Business or Government Clients

To be eligible for invoice factoring, you must actively send invoices to business or Government clients for goods or services that you have provided. If your main income is to consumers rather than businesses then invoice factoring is not for you.

Based in the UK

Your business must be based in the UK to be eligible for invoice factoring. This includes England, Scotland, Northern Ireland and Wales.

Credit Score

Actually, your personal or business credit score are NOT taken into account with invoice factoring! Invoice Factoring is one of the only business finance options that does not take a credit score into account. Instead, the lenders use your unpaid invoices and the above requirements to determine whether they can offer you an invoice factoring deal.

Invoice Factoring Lenders

There are many invoice factoring lenders and brokers out there who all offer their own benefits with varying fees and service charges.

The top 10 Invoice Factoring providers in the UK are (in no particular order):

Invoice Finance Options - Bibby
Invoice Finance Options - Hitachi
Invoice Finance Options - HSBC
Invoice Finance Options - Lloyds Bank
Invoice Finance Options - RBS Royal Bank of Scotland
Invoice Finance Options - Close Brothers
Invoice Finance Options - Touch Financial
Invoice Finance Options - Aldermore
Invoice Finance Options - Market Invoice
Invoice Finance Options - Skipton

Why use Quotesy for Invoice Factoring?

It is important to say from the start that we are not an invoice factoring lender, nor are we an invoice factoring broker.

What we do at Quotesy is take just a few details from yourself about your invoice factoring requirements – and find you the best invoice factoring deals on your behalf.

We work closely with the top 10 invoice factoring lenders and brokers in the UK which means we can get you better deals and save you valuable time in the process. We take your details, call around our invoice factoring partners and connect you with the best invoice factoring deals tailored to your requirements. You will receive a call from between 1 and 3 invoice factoring lenders who will have your details and offers ready.

  • How do you decide which invoice factoring lender is best for you?
  • How do you know if you are getting the best invoice factoring deals?
  • Do you have the time to ring around all of the invoice factoring lenders going through the painstaking process of giving all your details and requirements over and over again?

By using Quotesy for invoice factoring, you can rest assured that the above 3 questions are being taken care of by industry leading experts and that you are going to be getting the best invoice factoring deals on the market. Save yourself time and frustration by letting us do the leg work for you!

How does Invoice Factoring work?

Invoice Factoring is a form of business finance that pays an agreed percentage of a companies outbound invoices in advance.

This is particularly helpful for cash flow in a business, especially against clients who have long payment terms of between 30 and even 120 days before they pay your invoice.

How Invoice Factoring works can be broken down into 3 easy steps…

Step 1

You raise an invoice for goods or services that you have provided to a company. The invoice must include the amount to pay and the amount of time it must be paid by.

Step 2

Send a copy of the invoice to your Invoice Factoring provider who will pay you an agreed percentage of the invoice, straight into your bank within 24 hours.

Step 3

The Invoice Factoring company will collect payment of the invoice. They will then send you any remaining money from the invoice that you didn’t borrow – minus their fees.

If you don’t want your clients to know you are using an Invoice Factoring company, then you will be better off using Invoice Discounting. With Invoice Discounting, you manage the debt and collect payments yourself so the service is fully confidential. Invoice Factoring and Invoice Discounting are very similar – with the confidentialty being the only difference.

Advantages of Invoice Factoring

There are many advantages of invoice factoring, such as being a very easily accessible form of business finance.

  • Increases Cash Flow.
  • Improves Working Capital.
  • Frees up Time to work on your Business.
  • Factoring company manages the debt, chases payment and does all the work for you.
  • Allows you to plan for Growth.
  • No Limit on Available Borrowing.
  • Better Debt Management.
  • Money generally paid within 24 hours of applying.
  • No Credit Score needed.
  • Low Risk Business Finance.
  • Easily accessible form of Alternative Business Finance.
  • Clients tend to pay invoices on time after dealing with an invoice factoring company.

Disadvantages of Invoice Factoring

It is important to remember that invoice factoring is an alternative form of business finance. As with any form of business finance, there are downsides – such as having to pay the money back, with fees!

  • Invoice Factoring is not confidential. If you want confidentiality, use Invoice Discounting.
  • Your clients will know you are using a Factoring Company.
  • Invoice Factoring can be classed as short term finance so can have higher rates.
  • It may seem asif you are getting less money for the work you do – but it is important to remember that invoice factoring is a form of finance and it needs to be paid back – from the collection of your invoices.
  • Complex exit process – It can sometimes be difficult to exit a factoring agreement if you suddenly have less money coming in – but it is not a major problem if managed correctly.

As with all forms of business finance, invoice factoring does have it’s down sides – allthough in our expert opinion, we believe that the advantages of invoice factoring outweigh the disadvantages of invoices factoring by a good margin. You will have to make the decision for yourself using the information we have provided you with.

Apply for Invoice Factoring

You have 2 options when you want to apply for invoice factoring.

Firstly, you can trawl the internet and call as many invoice factoring companies as you can find – repetitively giving your details and requirements over and over again, while frustratingly trying to work out which is the best deal for you, or..

Secondly, you can apply for Invoice Factoring with Quotesy. All you have to do is take 1 minute to fill out the form at the top of this page and we will do all the leg work for you. We have close contacts within the invoice factoring industry and we can get amazing deals on your behalf.

So to recap, when you want to apply for invoice factoring – simply fill in our form at the top of the page and then wait for a call from an invoice factoring company, who will already have your details and requirements at hand – saving you time, frustration and money!