Trade Debtor Finance Consultants provide information about Partnership Factoring.
Partnership Factoring was formulated for businesses with a fulltime booker or accountant. In these cases, there was no need for the client to have a factoring company chasing invoices, setting credit limits, and so forth. Partnership Factoring means the client needs less servicing and therefore only needs a finance facility.
The finance facility is the cheapest factoring facility in the finance industry as clients submit invoices and get funding only. The financier still provides credit checks and account management, however most of the finance facility is left in the client’s hands.
Features of partnership factoring:
- Up to 80% advance on invoices
- If required, there are no automatic payments
- Collections are left to a business’ departments
- The systems are online and very easy to use
- The systems are practically paperless
- The Product fees are very low
- Debtor checks and credit searches are done
- Account management is minimised