At Danske Bank we understand the importance of improved customer payment times. That's why we aim to save you time by removing the burden of running and administering your sales ledger.
How does Full Factoring work?
- You generate invoices to your customers
- You forward a copy of the invoice to Danske Bank
- If the invoices are received by 11am, we will advance up to 85% of the invoice value same day
- Danske Bank credit controllers collect the debt
- When the invoice is paid by your customer you receive the balance (less any charges)
What are the benefits of Full Factoring?
- It will save your business time by removing the burden of running and administering your sales ledger
- Cash flow improvement as your business expands
- Ability to secure settlement discounts from suppliers
- Your business spends less time monitoring its cash position
- Increased ability to increase profits as sales are not lost through lack of working capital
- Helps fledgling businesses with insufficient trading history to apply for conventional bank facilities
- Full Factoring is a disclosed facility
- Danske Bank carries out the credit control function for your business
- Full Factoring works alongside your existing bank facilities