We are Invoice Factoring Brokers in Wigan
Our Director Neil is an experienced Invoice Finance broker living in Wigan. It is our role to help Businesses understand the complexities of this type of funding product. If your business is based in Wigan we can help you with Invoice Factoring.
What is Invoice Factoring?
To begin with Invoice Factoring is a finance product which helps to release the funds tied up in outstanding invoices. Many lenders advance up to 90% of the invoice value (less fees) with the remaining 10% paid to the business when the debtor pays.
Invoice Finance can also be be referred to as Factoring of Invoice Discounting.
The key principles are the same in which invoices are still financed by a lender.
The key difference is who completes the credit control function. If the business completes the credit control it is Invoice Discounting. If a lender completes the credit control the facility is called Factoring.
This type of funding solution is now becoming highly flexible. In years gone by a business had to sell all it’s invoices to a lender. In todays climate a business can now be selective and can pick and choose how they use the facility.
The key benefit of using Invoice Finance is to help free up funds from unpaid invoices. Many businesses benefit from the release of funding as it helps relieve the cashflow pressure on the business. The option of turning outstanding invoices into cash is vital for the survival for many businesses.
Why use a broker?
As experienced brokers in the Wigan area we are able to offer a wide range of solutions.
In comparison to some traditional brokers we are experts in our field and we look to obtain the best terms for all our Clients.
The best thing about working with us is that we do not charge any fees. This means there is absolutely no cost to your business.
We work with a panel of over 50 UK lenders. Our vast panel of lenders means we can source all types of facilities nationwide. This ranges from a full Invoice Factoring to a Single Debtor facility.
With so many Invoice Finance providers competing for your business, it can be difficult to know where to start. All Star Funding Solutions are able to advise and negotiate the best rates on behalf of your business.
We know the market and can save you time and money sourcing your next lender.
All Star Funding Solutions Ltd is an Independent Commercial Finance broker and not a lender. We are based in Manchester but have a nationwide coverage.
As we are independent we can offer the best impartial Invoice Finance quote tailored to your business needs.
With a panel of over 50 UK Invoice Finance lenders and can find you the best solution
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We work with all types of Invoice Finance lenders. It doesn’t matter if you are looking for funding against a single invoice, a single debtor or a full sales ledger we can help you find the right invoice finance option at the lowest rate.
Finally as members of the Financial Intermediary and Broker Association you can be assured of a great service.
Additionally some of our specialist areas of Finance are:
Asset Based Lending • Asset Finance • Business Loans • Cashflow Finance • Factoring • Invoice Discounting • Single Invoice Finance • Trade Finance • Stock Finance • Credit Insurance