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• 23 May

  How We Found A Cheap Factoring Quote Less Than 2K A Year

  We have just found a really cheap factoring quote for a prospect, that is worthy of sharing, at less than £2K per annum - all inclusive.

  The small micro business has a low level of annual turnover, hence they are very price conscious. They want to factor all their invoices, so it is a whole turnover facility.

  Factoring will provide them with both funding against their sales ledger, and a credit control service to collect in their outstanding invoices.

  Find A Cheap Factoring Quote

  We have managed to find them a cheap factoring quote costing £161.34 (+ VAT applicable to some of the charge) per month.

  That is a total annual cost of just £1,936 (+ VAT as above).

  This price includes a free CHAPS transfer every week, access to the funder's online system and the discount charge is also included - so it is a fully inclusive factoring quote often called a single fee structure.

  Finding A Low Price

  This is a very low price, partly reflecting that the prospect is a micro company - but it shows that some very low fees can be achieved if you know where to look

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  GET A QUOTE: Please call Sean on 03330 113622 to see the cheapest factoring price we can find for your company.

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  How This Pricing Compares

  If you are familiar with our research regarding pricing within the invoice finance sector, you will be aware that typically fees start at about £3,000 + VAT, for a single fee factoring deal, for a small company. Therefore this quote compares very well with that baseline costing only 65% of that amount. As always achieving a low cost deal is dependent upon speaking to the right providers, as costs vary dramatically between funding companies.

  Pay As You Go

  Also, if the idea of a fully inclusive arrangement doesn't appeal to you, there are plenty of selective receivables financing companies that will allow you to access funding against individual invoices, on a pay as you go basis. Whilst you don't get the benefit of what can be described as a "bulk discount" for submitting all your invoices, you can get a very controllable costing structure that allows you to use the funding only when you need it. If you are intending to maximise your funding levels though, a full or whole turnover option is likely to be the cheapest option.

  By Glenn Blackman