This is a very common question and why wouldn’t it be. Most business owners are worried that their bottom line will be taken away with no real benefits. Traditional lending is much cheaper, however, traditional lenders normally secure properties or directors as a safety.
Debtor Finance is more experience, but it only secures the debtors. Its fees and chargers are priced so that lenders can supply a range of things.
1. conduct credit searches on existing and future debtors
2. Maintain alerts to try to avoid future bad debts
3. Assist in the back end procedures of collection and payments.
4. To verify invoices are complete, stock received etc.. this eliminates 90% of the excuses of non payment.
5. Set credit limits, show online systems, which provides information about your facility.
6. Provide a human as a credit manager, who you can liaise with and address issues.
The list goes on. Some ask how much does this cost. Well each lender sets different fees for the appropriate services. Some businesses don’t need assistance with any of the above, that would mean they would get a much cheaper facility, however, should anything go wrong, they must realise that the lender will have to take appropriate actions to assist.
This may seem complicated to most. However Trade Debtor Finance Consultants has been providing businesses now for over 10, with experienced staff to assist you with the explanation of these products. Trade Debtor Finance will offer each client a free written quote to choose up to 4 lenders which will suit their current business leads. Again no obligation to go with any of those lenders if chosen.
Trade Debtor Finance has up to 28 lenders to choose from, each business has different needs, try us out and see what you think. For more information please go to our site and explore.