Invoice Factoring for Security Companies
Invoice Factoring for Security companies is a way of funding your sales ledger without waiting months for your clients to settle their invoices. Even if customers pay on time there is an inevitable cashflow gap. It’s doubly frustrating when customers are slow to pay. Invoice Factoring takes away the waiting to get paid. It advances your payments so that you will always have funding to pay staff, suppliers and taxes like PAYE and VAT.
The main differences between using us or using a more traditional bank facility are:
1) we provide more generous and flexible funding.
2) our facilities grow organically with the business without the need for constant funding limit reviews.
Our finance facilities range from £50,000 to £500,000. This is not a loan, we are just advancing the money already owed to you.
Our charges will normally be the same as the equivalent bank facility.
How Invoice Factoring works for Security Companies- 5 Simple Steps
1. You deliver your goods or service and invoice your customer as normal.
2. You send us a copy of the invoice (uploaded via our online portal).
3. We make available up to 90% of the invoice value.
4. You decide how much you want to draw and we transfer funds into your bank account, same day.
5. When your customer pays the invoice, the balance (10%) is released to you.
As part of this process Biz Money can manage the credit control for you; collecting cash from your customers over the phone which is a professional service many of our clients like to use.
Once your Invoice Factoring arrangement is in place, as you increase your sales, you don’t need to worry about having enough cash to fund growth because your facility grows with you.
We provide lots of different funding options to security companies, manned and electric, should you like more information and costs on invoice factoring for security companies, please complete the online enquiry form.