Intro to factoring Jim Robertson on Factoring INFO PACK

Welcome.

Do you want more certainty with your business cash position, less administration hassles, and an option to outsource your credit control function?

Then find out how SCOTPAC can help take the stress out of your business and improve your family time and health.

Here is a simple example of how Factoring Finance works.

Your monthly invoices sent to SCOTPAC
$100,000
You get up to 80% funding available within 24hrs
$80,000
Your balance on collection in say 60 days
$20,000
Less interest on the $80,000 for 60 days
-$2,100
Less Admin fee on $100,000
-$700
Further funds available
$17,200
Total available to client
$97,200
Total cost to client
$2,800
*Example figures only

Compare to the cost of a 5% discount for prompt payment. That’s $5000 against $2800, plus SCOTPAC will assist in collecting money in and you get your money within 24hrs.

Offering a discount for prompt payment means you still wait until 20th of following month to get any money.

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