How does a factoring service work?

Supply the goods: Supply your customers with goods or services and invoice your customers as normal.
Factoring companies will handle the credit control: The factoring business will release up to to 90% of the raised invoice value. Your customers will pay the factoring company directly and chase payment of the invoices on your behalf.
You receive the money: Once the customer settles the invoice, the finance company will release the remaining invoice amount to you minus the relevant fees.

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? How can we use invoice factoring to finance our staffing agency? What is a factoring company? How does invoice factoring work? Why should I consider invoice factoring?