How can we use invoice factoring to finance our staffing agency?

One of the most common ways otherwise successful companies find themselves facing cash flow difficulties is paying their staff. This is particularly true of staffing agencies, who have to chase payments from clients while paying a large team of employees on time.

Invoice factoring gives you access to the value of your client invoices when you need it, allowing you to pay your employees on time. We also take care of collecting your invoices, which can free up time and resources that you can utilise elsewhere.

What is invoice factoring? Once I have made contact with Novuna, how long will it take for someone to see me? Is invoice factoring regulated in the UK? Is invoice factoring considered a loan? Why would a UK company use a factoring company? Is invoice factoring suitable for my business? How much does invoice factoring cost? How effective is invoice factoring? How do I transfer from my existing invoice factoring provider? What makes a business suitable for factoring and can anyone use it? Our company has recently experienced rapid growth, would invoice factoring be a viable option? Is it possible to terminate an invoice factoring contract prior to the 12 month term? What is a factoring company? How does a factoring service work? How does invoice factoring work? Why should I consider invoice factoring?