What is a factoring company?

A factoring company provides the service which recovers the payments of your unpaid invoices, allowing you to release the tied up cash within 24 hours.

With Novuna as your factoring company, you are also eligible for a credit protection solution which protects businesses from their customers potentially not settling their invoice payments. This acts as added security when engaging in invoice finance transactions.

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