Factoring or factoring

whimblegardens.co.uk, quick and easy financing for VSEs / SMEs

Final response within 48 hours No guarantee required Quick release of funds No prepayment charge

Participatory loan and factoring

Entrepreneurs, factoring or factor is aimed at all companies dealing with professional clients whatever their size!

The factoring market in 2017 was dynamic. The market recorded an increase of 8.4% compared to 2016 (Source: Les Echos).

What is factoring?

Factoring is an operation by which a specialized establishment called a factor takes charge of all or part of the collection of accounts receivable (BtoB) of a company.

In exchange for this mobilization of receivables, the establishment pays part of the invoices assigned to the company.

The contract, concluded between the company and the factor, defines the rate of the various commissions and the amount of the guarantee fund.

The guarantee fund is used to cover the risk of default. Its amount is defined according to the risk estimated by the factor by analyzing the company's customer file.

Why do you need to use factoring?

Short-term financing solution, it allows you to optimize the management of your cash flow and your customer payment deadlines. As your cash flow is optimized, you can focus fully on growing your business.

The mobilization of the receivable by a factoring organization allows you to secure it and is a guarantee of quality for your financial and commercial partners.

There are 3 types of factoring

  • Confidential factoring: The client is not informed that it is a factoring company which will be responsible for collecting the receivable.

  • Notified factoring (unmanaged) : The customer is informed that the receivable is assigned to a factoring company but the entrepreneur retains the management of his customer relationship. It is used in particular in the event that the company does not have any bad debt problems with its customers.

  • Subrogation : The customer is informed that he must pay the invoice directly to the factoring organization.

Advantages and disadvantages of factoring

Advantages

  • Optimized cash management : Controlling your cash flow is an essential point in the life of a company. By factoring , the receivables are paid immediately by the factor and therefore allows you to directly replenish your cash flow.

  • Reduced risk of default : The financial institution guarantees between 90% and 100% of the receivable via a guarantee fund. You no longer need to revive your unpaid debts and this allows you to devote yourself fully to the development and management of your business!

Disadvantages

  • Loss of customer relationship : Although managing bad debts is time consuming, it is important for most businesses to continue to nurture the customer relationship. Factoring can also be frowned upon by customers and can jeopardize the business relationship.

  • An expensive solution : Despite a rapid collection of receivables, the cost of factoring is not negligible. Indeed, in addition to commissions can add costs. The factoring establishment will also engage your surety on a personal basis.

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The financing stages on whimblegardens.co.uk

  • 1. Test your eligibility (60 seconds) Fill in your information and accompany your request with your latest assessments.
  • 2. Analysis of your loan request (48 hours) Our analysts will contact you to further develop the development project.
  • 3. Online collection (7 days) Gain visibility with our large community of lenders.
  • 4. Release of funds (24 hours) The collection is complete, we release the funds to your bank account.
  • 5. Repayment of lenders (Duration of the loan) whimblegardens.co.uk takes a monthly installment from you to redistribute it directly to your lenders.

Finance your customer lags via Crowdlending

Do you want to find alternative financing for your customer lags? Crowdlending allows entrepreneurs to borrow without going through banks and without having to provide collateral.

The sums are then reimbursed, with interest, to private lenders and / or companies according to the terms defined in the contract.

whimblegardens.co.uk: Tailor-made financing solutions

Access loans quickly and easily thanks to whimblegardens.co.uk , the number 1 French crowdlending platform. whimblegardens.co.uk offers professionals loans with a term ranging from $ 20,000 to € 2.5 million over 12 to 84 months from 2.4%, in order to meet all needs.

With whimblegardens.co.uk, a community chooses to support you!

Questions answers

With whimblegardens.co.uk, the acceptance process is simplified as much as possible: online loan request and final response in less than 48 hours. No personal deposit or guarantees required. At whimblegardens.co.uk, we eliminate excessive bureaucracy, and we trust you!
Your company must have more than 3 years of seniority, achieve more than $ 150K in turnover and have positive equity.
You can borrow from $ 20,000 to $ 2,500,000.
The terms offered by whimblegardens.co.uk range from 12 months to 60 months.
Our credit analysts calculate this rate by taking into account the duration of the loan and the risk of the project to make several proposals for durations.
After uploading your project to our website, allow around 7 to 10 days to receive the funds in your bank account.
Like a bank loan, each month you will repay the lenders (principal + interest) for the duration of the loan. Our partner S-Money takes care of everything. Make sure your bank account is fully funded before each monthly withdrawal.
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