Provider Guide

Factoring

Factoring permits you to effectively outsource your credit control and your sales ledger while enabling you to raise up to 85% of the value of approved invoices in cash the day after they are raised.

What are the steps in factoring?
1. You provide your customers with goods or services and then invoice them.
2. A copy of the invoice is sent to Barclays Sales Finance electronically or by post.
3. Up to 85% of the invoice value is made available to you (within 24 hours if required).
4. The collection of invoices is then performed by Barclays Sales Finance.
5. Your sales ledger is updated and the balance on the invoice value is credited to your account (less Barclays Sales Finances’ fee).

Credit insurance can be added to this service to provide you further peace of mind and ensure you receive no nasty surprises.”