How much does invoice factoring cost?

The cost for invoice factoring is split in to three key areas. A set up fee for the administration of establishing the facility. The service fee covers the management and admin costs related to your account and is charged as a percentage of your gross turnover.

Finally the finance fee is the cost of the money you draw down and is charged daily against your outstanding balance.

All reputable factoring companies will be transparent about the fees and costs related to the facility prior to signing the agreement.

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 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 a factoring service work? How does invoice factoring work? Why should I consider invoice factoring?