Why would a UK company use a factoring company?

There are a number of reasons companies in the UK may utilise a factoring company for their business; primarily, factoring helps companies ease their cash flow concerns by receiving payment of invoices immediately. Slow paying customers can put a strain on cash flow and factoring with Novuna Business Cash Flow gives businesses an option to receive cash in 24 hours, as opposed to waiting 30, 90 or even 120 days to get paid by customers.

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