If your scouring the market looking for a factoring facility and you’ve stumbled across this page, hopefully this will be of benefit to you. In this blog we are going to explain the differences between funders and brokers. If you are struggling to choose between the two, this we’ll help you understand the benefits of invoice factoring brokers.
Why Invoice Factoring Brokers and Not Funders?
Invoice Factoring Brokers will save you hassle as funders can be quite selective. Because we talk to our panel of funders on a daily basis, we know what kind of deals they will accept and what they won’t accept. By coming direct to a factoring broker and giving us your details we can then scour the market and find the right funder for you. We would then find the most suitable deal that’s tailored to your needs, which the funder will be comfortable with.
Factoring Brokers have More Choice and Market Knowledge
Being a brokerage we are the ‘middle man’ and for that reason we have a massive variety of funders that we can go to, to find you the best deal for you and your company. Going to funders direct can be time consuming and will cost that bit extra because going to a funder direct they won’t give you their best deal as you are one customer. Funders will generally charge you more than they would by going to a broker, as being a broker we receive discounts from the funders and are often cheaper than if you went to them direct.
Factoring Brokers Save Time and Effort
By coming to a broker you will save time and on top of that energy, as getting in touch with funders and trying to secure the best deal can be confusing because comparing rates from different funders can be difficult as most funders present they’re costs in a different way.
Factoring brokers don’t charge you a penny for using their services and advice. Their fees are paid by the funders and it’s in the brokers interest to help you find the best deal. Brokers such as Simply Factoring Brokers have had longstanding relationships with a wide range of funders and are in the ideal position to identify which would make a good match and which funders will be in the best position to offer you the best facility.
If you’re looking to explore your invoice discounting/factoring options, please don’t hesitate to get in touch.
Latest posts by Shaun Thomas (see all)
- Tendering for Large Construction Contracts - October 11, 2017
- Taking a Construction Company to the Next Level - September 29, 2017
- Your Recruitment Company’s Cash Flow Problem Solved - September 7, 2017