However, it’s confidential and the final customer is not aware of the existence of a finance company. Invoice discounting is basically similar to factoring, but it gives companies better financial control, as they are in charge of recovering their own debts. A percentage of the sales ledger, up to 90%, is lent by ABN Amro to its clients, who in turn recover debts with their own customers and then reimburse the finance company. Invoice discounting allows a business to draw money against its sales invoices before the customer has actually paid. To maintain your own in-house credit control, choosing ABN Amro’s invoice discounting will ensure you’re in total control of your customer relationships as well as of your financial movements. All contracts include a dedicated relationship manager and credit controller.įactoring is a hassle-free way to smooth out your cash flow, but it implies outsourcing your debts. Once in place, FastTrack Factoring ensures that within 24 hours after raising an invoice, funds are available. One visit is usually enough to get an in-principle decision. Then, your facility can be in place within five working days. Contact ABN Amro and a meeting will be arranged within 48 hours. ABN Amro’s FastTrack FactoringįastTrack Factoring is easy to adopt for your company. This gives great flexibility to your finances, and guarantees sound, clear bookkeeping. Money is quickly credited on your account, and is available 24/7. The first obvious advantage of factoring is that it instantly relieves businesses, especially small ones, from debt.
Factoring is the best way to keep your working capital available at all times.
ABN will provide businesses with up to 90% of the invoice value straight away, thus eliminating the need to wait for 30, 60 or 90 days to get paid. How does it work?įactoring allows you to gain immediate access to your working capital as soon as you raise your invoices. Therefore, if your business plan is solid, ABN Amro’s factoring solutions will help you bring your business ambitions to life quickly, easily and confidently. This delay can obviously put a strain on your financial development and impair your cash flow. Understanding ABN Amro’s factoring solutionsĮvery time you raise an invoice, your customer may take up to 90 days to pay. These banking products are among the best solutions to help develop any business, and finance any entrepreneurial endeavour. ABN provides start-ups and large corporations alike with invoice factoring, invoice discounting and asset based lending.
For more than two decades, ABN Amro UK has been providing banking products to retail, private and commercial customers all over the globe.
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