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Demand for Invoice Financing Grows |
| - as Business Lending Falls at the Fastest Rate Since Records Began Reports Simply Business |
| Simply Business at www.simplybusiness.co.uk report an increase in small businesses seeking alternative sources of credit such as invoice discounting and factoring as banks refuse to give credit.
Business lending is failing at the fastest rate since records began, with a drop of GBP4 billion between March and May of this year. SMEs in particular have been strongly affected with lending down by 4.2% according to a recent report from the Bank of England. This situation is clearly taking its toll with the Centre for Economic and Business Research (CEBR) suggesting that 47% of small business owners are relying on personal loans, credits cards and savings to keep their firms afloat.
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| Similarly, Simply Business are seeing increased numbers of small businesses turning to alternative finance options such as factoring and invoice discounting in order to improve cash flow. Invoice finance is a type of asset based lending where a business uses their sales ledger as collateral for a cash advance. It's a flexible finance option which grows with your business, allowing your company to achieve its full potential unlike traditional forms of lending (loans, overdrafts).
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| 09.10.11 |
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Rising popularity of invoice finance |
| Invoice finance has continued to grow in popularity for both SMEs and larger companies according to a new economic report and quarterly figures released today by the Asset Based Finance Association (ABFA). Total advances from members currently stand at £15.7bn, showing strong year on year growth of 12%.
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| This growth comes on the back of continued growth in advances over the past five quarters and shows that UK and Irish firms are increasingly opting for this type of finance over other forms of lending. The latest figures also show invoice finance clients are again choosing not to access all of the funds available to them. Total available funds this quarter were £22.2bn, with £6.5bn of finance available but not drawn.
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| Of the total funding provided by members, SMEs received almost 40%, or just over £4bn this quarter. A decreasing gap in the level of advances between SMEs and businesses with turnover above £100mn suggests a growing confidence amongst SMEs as they get comfortable with increasing debt levels. This is supported by total clients' sales growing 14% over the past year to reach £59bn.
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| 09.09.11 |
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Sikrere inntekt med factoring
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| Factoring er en måte å sikre viktige inntekter når du tar på deg store prosjekter. – Etter noen vonde erfaringer har jeg nå en trygg cashflow takket være denne løsningen, sier webutvikler Magnus Berglund |
| Fast valutakurs for kjøp fra utlandet, factoring og egeninkasso var tre tiltak webutvikleren fra Høvåg i Aust-Agder satte i verk etter finanskrisen i 2008. I denne artikkelen lærer du litt om alle tre metodene.
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| Factoring = fakturasalg
Enkelt forklart går factoring ut på at du selger fakturaen din til et firma som er spesialisert på fakturakjøp. Du sender fakturaen din til selskapet, som etter en kredittsjekk av kunden din straks betaler ut hele fakturaverdien mot et fast gebyr og en viss prosentdel av fakturabeløpet.
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| Factoringselskapet sørger deretter for at fakturaen blir betalt til rett tid. Hvis ikke kunden betaler for seg er det ikke lenger ditt problem.
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| 11.03.11 |
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Be wary of hidden fees in factoring and invoice discounting arrangements, says K2 Business Rescue
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| Factoring and invoice discounting (borrowing money against invoices) can be a helpful tool for funding the working capital of a business
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| While it used to be regarded as a means of borrowing by businesses in financial difficulties, it is now a common source of finance for managing cash flow and has the additional benefit of imposing discipline on the collection of outstanding sales invoices.
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| The service charge fee is pre-agreed with the finance provider and generally relates to the level of service provided which could include the collection of book debts and different levels of underwriting risk of bad debts. In addition the client is made aware of any arrangement fees and that interest on funds drawn is also applied.
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| Other considerations that may be taken into account when fixing the service charge fee include volume of invoices, value of invoices, percentage drawn down, maximum amount borrowed, the level of monitoring necessary and whether all or only part of the sales ledger is assigned.
The service charge fees for factoring are generally at a higher rate of between 0.8% and 3%, than for invoice discounting because the factoring service charge includes debt collection. Invoice discounting is generally cheaper because the company collects its own invoices.
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| 07.03.11 |
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Just Factoring |
| Find The Right Factoring Solution
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| Invoice finance and factoring companies can help you to access up to 90% of your outstanding sales ledger. However, not all factoring companies are the same!
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| Finding the right factoring company to work with is a vital first step for your business. With years of experience in factoring, invoice discounting and other asset based lending solutions, we constantly monitor and assess providers, their terms and service offerings. |
| If you are new to factoring we can help you find a suitable asset based lender, saving you time and avoiding common pitfalls. If you already have a Factor but are unhappy with your current arrangement then we can find you a better solution.
As a factoring broker we offer you FREE impartial advice and can shortlist several options for your business.
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| 14.02.11 |
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Bibby buys Kopparberg Finans
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| UK invoice finance specialist Bibby Financial Services has further expanded its European coverage with the acquisition of Swedish factoring firm Kopparberg Finans.
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| The deal forms part of Bibby FS global expansion strategy, which has included acquiring new businesses as well as launching subsidiaries over the past three years.
The acquisition of Kopparberg Finans, which was launched in 2005, has provided another 50 clients to Bibby’s client base. This year, Bibby has had 1,234 new clients, an 11 percent increase on last year.
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| Bibby FS’ European chief executive Mark Cleaver said: “We have set ourselves a challenging growth objective and in order to achieve this we are continually looking for opportunities to move the business forward. We believe that this acquisition will bring real value to the group.”
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| 23.11.10 |
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Avtale om factoring etter panteloven |
| En næringsdrivende kan slutte avtale om avhendelse, avhendelse i sikringsøyemed eller pantsettelse av de enkle pengekrav på vederlag for varer eller tjenester som han har eller får i sin virksomhet eller i en særlig del av denne. Det er ikke nødvendig at skyldnerne blir navngitt. Hjemmel for inngåelse av avtale om factoring er panteloven § 4-10.
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| Denne blanketten brukes for å tinglyse factoringpant i Løsøreregisteret i Brønnøysund.
Factoringsavtale kan bare inngås av næringsdrivende etter panteloven § 3-5. Dette er:
a) Foretak registrert i Foretaksregisteret
b) Institusjoner som nevnt i panteloven § 3-5, bokstav b, jfr. forskrift til pantelovens § 1 b .
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| Pantsettingsadgangen må godtgjøres ved å legge fram firmaattest for registrering i Foretaksregisteret eller særlig dokumentasjon som institusjon etter § 3-5, første ledd, bokstav b . Foretak og personer som driver næringsvirksomhet i landbruk etter pantelovens § 3-9 godtgjør pantsettingsadgangen ved å legge fram firmaattest eller utskrift fra momsregisteret, kvittering for betalt merverdiavgift eller annen offentlig dokumentasjon som godtgjør momsregistreringen. Det må dessuten vedlegges egenerklæring om at vedkommende driver næringsvirksomhet i landbruket. Jfr. forskrifter til panteloven § 3. Ved retinglysing av tidligere avtale kreves ingen dokumentasjon for næringsdrift.
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| 04.11.10 |
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GE Capital Completes Acquisition of RBS Factoring GmbH |
| GE Capital has completed the acquisition of RBS Factoring GmbH from The Royal Bank of Scotland plc (RBS), following the approval of the relevant authorities.
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| An agreement with RBS to acquire 100% of RBS Factoring GmbH was signed on the 29th of March 2010. The announcement and further information can be found here:
http://www.genewscenter.com/Press-Releases/GE-Capital-to-acquire-Royal-Bank-of-Scotland-s-factoring-business-in-Germany-26fa.aspx
About GE Capital
GE Capital is a leading provider of specialist finance throughout the EMEA region, providing a wide range of solutions including: accounts receivable management, inventory finance, ABL, cross-border financing, leveraged finance, European leasing/vendor finance and fleet management. GE Capital focuses on sectors where it can share GE's 130+ year heritage with customers - energy, healthcare, media, transportation and industrial - and has a major footprint in EMEA, including an exciting $8 billion commercial finance joint venture with Mubadala in Abu Dhabi.
Source: GE Capital
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| 05.07.10 |
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GE Capital to Acquire the Royal Bank of Scotland’s Factoring Business in France |
| GE Capital, one of Europe’s leading providers of SME financing, has signed an agreement with The Royal Bank of Scotland plc (RBS) to acquire 100% of RBS Factor S.A., RBS’ factoring business in France, for an undisclosed amount |
| The transaction is subject to regulatory approval. The move follows an agreement entered into with RBS earlier this year to acquire the bank’s factoring business in Germany, subject to regulatory approval.
RBS Factor is a top 10 provider of accounts receivable finance in France by financing volume. It processes more than three million invoices a year and will add approximately €3.5bn ($5bn) of volume to GE Capital’s French factoring platform. This acquisition, together with the acquisition of RBS’ German factoring platform, will increase GE Capital’s total European factoring volume by more than €6bn ($8bn).
GE Capital is one of the leading providers of accounts receivable finance in Europe, lending more than €200 million to small and medium sized European businesses every day and financing more than 350,000 companies every year in Europe alone. Since 2004, GE Capital has provided more than €350 billion ($500 billion) of working capital to small and medium sized businesses across the region.
"The acquisition of RBS Factor France makes great strategic sense for GE Capital and, together with our acquisition of RBS’ German factoring business, reinforces our position as a leading independent provider of accounts receivable financing solutions in France and across Europe,” said Rich Laxer, President and CEO of GE Capital EMEA.
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| 21.05.10 |
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Selg fordringene dine, få bedre likviditet |
| Factoring, eller å selge fordringer, er et finansielt verktøy som i første omgang sikrer bedre likviditet i bedriften. |
| I utgangspunktet kan alle bedrifter benytte seg av dette. Å selge en faktura er det samme
som å selge en fordring. Dersom kunder betaler fakturaene sine sent, fungerer i praksis bedrifter som bank for kundene siden de gir kreditt. Ved å selge fordringer, unngår du å være bank, samtidig som du sikrer egen likviditet.
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| Der hvor banker tradisjonelt er opptatt av klienten og dennes betalingsevne, er en factoringvirksomhet mer opptatt av kundeporteføljen. Det vil si at de for eksempel kan kjøpe fakturaer til helt nye bedrifter, basert på kundegrunnlaget til bedriften. Det stemmer sier Jan Fredrik Haraldsen, Direktør, Finansieringsselskapenes
Forening. I dagens konkurranseutsatte marked har bedriftene større behov for å fokusere på kjernevirksomheten, da blir det en ekstra belastning å måtte styre fakturaer og utestående fordringer, forteller han. En løsning med factoring der du selger porteføljen av fordringer kan være en gunstig løsning,
spesielt for små, eller mellomstore bedrifter med mange fordringer til private. For eksempel vil åndverkerbedrifter som får inn utestående beløp, få større forutsigbarhet på likviditetsstrømmen.
Slik vil de i mindre grad være avhengig av kassakreditteri den daglige driften.
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| Selv om fordringen ikke er endelig overdratt før den er betalt, og en fordring som misligholdes i utgangspunktet vil bli returnert, er det stor enighet om at å selge fordringer øker betalingsviljen.
Ja, sier Haraldsen, mange bedrifter opplever at mange er trege med å betale regninger fra et firma
de ikke kjenner så godt. Vi ser også at bedrifter bevisst utsetter å betale fakturaer og skaff er seg da en rimelig form for kreditt på bekostning av et annet firma. Ved å la et profesjonelt selskap overta fakturaen øker betalingsviljen betraktelig, spesielt fordi fakturaen følges opp av et selskap som har innkreving av fordringer som hovedgesjeft, sier han. Det er ikke bare små bedrifter eller håndverkere som kan ha nytte av
factoring. Større virksomheter med store fakturamengder, vil også kunne dra nytte av en slik løsning. Det
handler om å skape lønnsomhet for begge parter: Både selger og kjøper skal tjene på løsningen, dette
på tross av forskjellig fokus og innfallsvinkel.
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| I utgangspunktet kan fordringer overdras fritt, sier Haraldsen. Unntakene er fordringer pålån, som krever finanskonsesjon eller samtykke fra låntager. Kjøp av fordringer før forfall krever også finanskonsesjon. Innfordring av misligholdte fordringer krever dessuten inkassokonsesjon, forklarer han. |
| TOM AMRIATI-LØVÅS - redaksjonen@mediaplanet.com |
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| 08.03.10 |
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Invoice and Asset Based Lender provides 250k Factoring package for supplier of plumbing & heating materials |
| Venture Finance has provided Haines Distribution, a start-up supplier of plumbing and heating materials, with a 250k Factoring package which includes Bad Debt Protection. Haines Distribution was attracted to Ventures record of consistent lending throughout the recession, and the premier Invoice and Asset Based Lender turned the deal around within two weeks of introduction
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| Haines Distribution was founded in February 2010 by brothers Stuart and Keith Haines. It provides plumbing and heating materials to Contractors, Merchants, Individual Engineers and Colleges & Training Centres throughout the UK. All of its products carry BS, Kite Mark, WRAS and EN approvals.
Stuart Haines comments: We are that rare company nowadays that deals with people face-to-face and over the telephone as opposed to over the internet. We planned to grow our team significantly with new clients and contracts, and therefore required a funding package to enable us to implement our ambitious plans.
To drive the company forward through the initial start-up period, Stuart and Keith required an instant cashflow boost that would facilitate early orders. The start-up had already turned over in excess of 80,000 within the first three weeks of business.
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| 30.03.10 |
| www.creditman.biz |
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Crisis fall-out brings new supply chain finance opportunities for factors |
| For factors, the crisis has proved to be a bit of a curates egg |
| For some, the reduction in availability of credit insurance cover has meant that non-recourse arrangements, particularly cross-border deals, have been badly affected. But for others, the spread between the cost of borrowing and discount rates charged to clients has widened considerably - meaning that as long as risk can be kept under control, significantly improved profits can be enjoyed. So, depending on the availability of funding and the predominance of international deals, business for factors has been typically mixed at the two extremes either very good or very difficult.
For 2010, this trend looks set to continue for a while at least, although improvements in credit cover availability are filtering through, which should improve matters for international factoring and possible interest rate rises may reduce spreads a little.
But as any economics or management undergraduate will tell you, apart from the obvious impact on general commerce, a crisis also usually comes with unfolding pockets of opportunity as industry and business dynamics are altered by the economic environment.
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| For factors, the opportunity could be in providing supply chain finance, particularly to mid-sized corporates. Prior to the crisis, supply chain finance was a service that banks were trying hard to sell to large corporates with the promise of better cash flow and processing efficiency for both the corporate and their suppliers. Although these large corporates showed interest in the idea, there was not the take-up that was initially expected.
However, since the crisis, the positions seem to have been reversed. With large and medium sized companies having to pay much more attention to their cash flow positions and traditional funding routes more restricted, corporates are turning to supply chain finance with real enthusiasm. In fact, such is the call for supply chain finance that one trade finance banker said recently that he expected demand to soon outstrip supply.
A factors expertise is in managing and financing receivables and since receivables finance is usually at the core of most supply chain finance operations, factors are in a unique position to take advantage of the rapid growth in demand.
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| 09.02.10 |
| www.creditman.biz |
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Saksbehandler-vikariat |
| - Lindorff |
| Lindorff AS, fagavdeling Kort og Finans , Oslo søker etter
Saksbehandler Kort og Finans VIKARIAT.
Avdeling kort og finans jobber med forbrukslån og kort, factoring og leasing. Vi er organisert i grupper innenfor hver bransje. Vi skal kjenne hverandres kunder og hjelpe hverandre på kryss av gruppa. Det legges stor vekt på teamwork og sammarbeid. Da en av våre saksbehandlere går ut i permisjon søkes en erstatter.
Arbeidsoppgaver/Ansvarsområder:
- Saksbehandling og oppfølging av egen portefølje
- Utstrakt kontakt med kunder og eksterne forbindelser
- Utvikling av portefølje
- Ut og innring
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| Ønskede kvalifikasjoner/personlige egenskaper:
-Min. 3 årig videregående skole, samt tilleggsutdannelse innen økonomi
- Inkassoerfaring
-Har god skriftlig og muntlig fremstillingsevne
-Gode kommunikasjons- og samarbeidsevner
-Er effektiv, resultatorientert og beslutningsdyktig
-Har stor arbeidskapasitet og evne til å arbeide selvstendig
-Er positiv og omstillingsvillig
-Evner å skape gode relasjoner til kunde
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| Til gjengjeld kan vi tilby utfordrende arbeidsoppgaver, et godt og stimulerende arbeidsmiljø, gode muligheter for videreutvikling både faglig og personlig, gode sosiale- og administrative ordninger og en konkurransedyktig lønn.
Ønsker du flere opplysninger om stillingen kontakt avdelingsleder Anders Jakobsen, tlf. 91398601.
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| 08.06.09 |
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