1st Factoring Quotes

We are the UK's number one factoring broker. During the past 12 months we've helped companies factor invoices totalling over £170 million. We work with the industry's leading providers to ensure reliable, competitive quotes.

We have the expertise to help your company, regardless of its size. We've found solutions for startups with £50,000 turnover and established companies with tens of millions of pounds of turnover.

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"What is Invoice Finance?
Put simply, invoice finance is secured lending where the security is provided by unpaid invoices. Many companies do not appreciate that unpaid invoices can be the largest asset on their balance sheet and that they are potentially under leveraged and neglecting a great source of working capital. In addition, invoices are also legally recognised allowing the lender the chance to securitise their lending rather than use floating charges in the form of overdrafts.

Almost all invoice finance facilities work on the basis that all acceptable invoices will be funded by the invoice financier up to an agreed percentage the same day or day after they are raised. When the invoice is paid, the invoice financier will pay the resulting balance to the customer minus their fees. If an invoice cannot be collected it is returned to the customer or, if it is a non-recourse facility, a credit insurancepolicy covers the invoice.

What is Factoring?
Factoring is the branch of invoice finance which is designed for smaller companies due to the additional services which are offered by the factor. In addition to the finance facility, the factor can also provide full sales ledger management including credit control and collection. For companies with a low number of stuff this can be a lot more cost effective than employing full time member of staff to act as a financial controller.

What is Invoice Discounting?
Invoice discounting is designed for companies who have a financial management and control process in place. The service is predominantly about money and not the additional services which are offered in a full factoring service. Invocie dicounting is a growing service can allow several hundreds of millions to be raised."

Compare Factoring Companies Compare the services offered by featured factoring companies.	Compare Factoring Prices Want to compare factoring prices tailored for your company's needs for free? It's fast and simple with us.
Factoring and Sales Ledger Management Explained Learn the benefits of factoring and the varying options of sales ledger management.	Invoice Discounting Explained Invoice discounting is a very different service to factoring which may be a lot more beneficial to some companies.
Typical Industries Some industries have a long history of using invoice finance to help achieve growth and stability.	Case Studies Using case studies of different companies with different financial needs we help show when using a factoring company can help you.

We want to help you get the finance your company needs to grow and continue to be a success.

Save time and search the factoring market to find the most competitive deals for your company.

At 1st Factoring Quotes we have partnered with some of the UK's leading providers of factoring and invoice discounting. Our partners include Alex Lawrie Factors, Lloyds TSB Commercial Finance, GMAC and Barclays.

Factoring at a glance
The following four steps are an over view to factoring, to learn more about factoring click here:

1. Your business raises an invoice and sends a copy to your factoring company
   
2. The factorer then advances you a % of the gross invoice value, the percentage is usually around 85%.
   
3. Your factoring company will then send out statements and collect the cash previously invoiced.
   
4. The factoring company will then pay you the rest of the balance, minus charges.

Factoring is designed to help you release money tied up within your company. The largest asset a company has is typically their unpaid invoices. By using a factoring service you can release up to 85% of the gross balance invoiced for. This will then allow you to put the money straight back into your business without waiting for overdue invoices etc.

An added benefit of using a factoring service is that the factorer can also help you with the management and collection of invoices, for a small business with low head count this can prove to be more cost effective than hiring someone.

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Invoice discounting at a glance
The following four steps are an overview of invoice discounting, if you would like to learn more about this product click here:

1. Your company write an invoice as usual
   
2. Your company send a sales daybook listing to your factorer
   
3. Your factoring company can then advance you up to 85% of the gross daybook listings
   
4. Your company send out statements and collect cash as usual
   
5. Your company receives payment and banks the cash
   via a trustee bank account your factorer receives cash from your company's customers.
   
6. Your factorer returns the remaining balance, less charges.

Click here to get a quote for invoice discounting