Invoice factoring is a system of payment which enables you to get paid by a third party as soon as you raise your invoices, regardless of when your customer actually pays.
The appeal of this process is that it takes away all the difficulties of chasing customers for money and helps removes the worry of not knowing when you might get paid.
Naturally there is a cost, but the major advantage of factoring is that you receive the majority of the cash within 24 hours rather than waiting for weeks, or even longer.
If you’d like to find out more, and to discuss whether this arrangement is right for your business, please speak to the corporate finance team here at Jigsol.
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