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Call up the organisation
Page 38
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WE FOUND John Durant's article on factoring (CM, August 10) most interesting.
We would like to draw your attention to our own organisation, which represents a group of independent factoring / invoice discounting companies. I attach a list of members for your information.
In general terms, members of this association are able to provide finance by either factoring or its variant, invoice discounting, for much smaller clients than members of the Association of British Factors would be willing to consider.
Some of the smaller businesses reading your magazine may find this information helpful, as many smaller firms are afraid to approach large organisations for funds.
Some members of this association will provide finance by invoice discounting 1 clients whose turnover is as lit as £1000 per month. Full fi toring facilities normally L come viable from £4000 1 month turnover upwards. T average cost is currently 4% turnover, and could be as low 21/2%, depending on t number and value of invoic and the time taken by the c tomers to pay.
JEFFREY C. ROSENTHi FCCA,
Chairman, Association of Invoice Factors, London EC4.