Its a very trick subject. Funding invoices and getting up to 80% of them in 48 hours instead of 30 - 75 days. Using this cash to catch up bills, grow your business, buy more stock, and or employ more staff. Then getting the balance of the invoice ( The final 20% less fees) once the debtor pays their account.
That is the Factoring product in the nutshell, but its obvious that each business is different, and has different circumstances. So with that in mind, every lender has different advantages and disadvantages.
TDFC ( Trade Debtor Finance Consultants) help clients not only to understand the product, but help them get choice in which lenders will suit their needs. Best of all, it is at no direct cost to your firm. Also if any of our lenders are chosen, then TDFC consultants will help you with support for the life of the factoring loan, again as no cost. TDFC was set up to help business use these products and get on with growing your business.
The best example of this. A business with around 1.8 million turnover approached our firm about factoring. They had spoken to their bank, but because they had a tax arrears, the financier shunted. them. They spoke to other lenders with a similar result. One call to TDFC and our firm offered them 4 alternatives. This firm has now payed back their arrears and have steps in place to not only stop this from happening again, but is now moving forward in growing. Now that this is happening, they will be able to get their orginal product of choice, no problems.
For more information about Factoring or Debtor Finance, log onto our website: www.tradedebtorfinance.com.au or email accounts@tdfc.com.au today.
No comments:
Post a Comment