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Factoring

Manage business growth with factoring

Whether you are a new start business or you are enjoying healthy growth and increasing sales, or you're considering expansion, unpaid invoices can really constrain your business. If you are thinking about expanding, the last thing you need is unreliable cash flow. This is where IDC Financial can help you. It's a fact of business that many customers delay settling invoices for as long as possible. In many cases you may have to wait 60 days or longer before invoices are settled. This all adds up to bad news when you still need to pay your staff and suppliers on time. Without the right amount of cash flow when you need it, you may well have to divert precious resources to chasing payment when you should be chasing new business.

How it works:

You deliver goods or services and invoice for them.
You sell the invoice to the IDC Financial at a discount.
We pay into your bank account up to 90% of the value of the invoice and you get immediate funds to run your business.
We collect the payment for you.
We pay you the balance of the invoice value having deducted any fees.
Although Factoring costs vary and are based on transaction size and timing, the average cost of a transaction is usually between 1.5% to 3% of the invoice per month.

Advantages of Factoring:

Factoring funds are easier to obtain than a business loan.
IDC Financial can provide access to funds in about a week.
Biggest requirement for approval is that do you business with credit worthy clients.
Factoring is flexible in that the amount you can borrow grows directly with your sales. This is essential to enable companies to fund their growth, since you must usually pay your suppliers before you receive payments from your customers.
No other assets are needed to secure this funding.

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