If you are experiencing any of these frustrations, you would certainly not be alone. What may have been the best option at the time you set the facility up, may not fit with where your business is now and where it is heading.
If you are looking to cut costs and don’t need an advance of 85%-90%, perhaps you could include a Revolving Credit Facility as an option. The fees are lower than invoice finance as the service fee is based on typically 50% of your sales ledger, rather than 100% of your annual turnover, although some facilities offer up to 80% of your ledger. See our section on Revolving Credit Facilities to find out more.
So, if you currently have an invoice finance facility in place and would like to look at the best alternatives, it makes sense to speak to an expert like us. There are no fees for using our service, so let Wise Factoring speak to the market in confidence on your behalf and let us put together the very best options for you to consider.