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HSBC Factoring and Invoice Discounting

Factoring and Invoice Discounting services offered by HSBC are designed to help improve cashflow for all businesses whose turnover is over £100,000 and HSBC is able to consider applications from both existing HSBC and non-HSBC business customers.

HSBC will also consider offering Factoring and Invoice Discounting to new start-ups where the first year turnover is projected at £100,000 and above.

The advantages of using HSBC for Factoring and Invoice Discounting are many and varied, in line with other Banks or financial companies offering these kind of services. All offer similar services to a greater or lesser degree, with subtle nuances applying depending on the lender’s current attitude to risk, and interpretation of the prevailing market conditions as they apply to the different business sectors.

HSBC will therefore assess individual applications in the light of these criteria, and to ensure its competitiveness, will offer facilities every bit as advantageous as those offered by its competitors, maybe with nuances around advance rates and charges to provide an all-important ‘USP’.

Taking Factoring and Invoice Discounting facilities provided by HSBC will improve your business cashflow by freeing up cash from your invoices as soon as they are issued and protect the business from the threat of late payers or bad debts. The advantages for the business mean that the invoices act as security so there is often no need to pledge your personal or business assets, and HSBC facilities allow the business owner to react quicker to market opportunities whilst keeping control of their debtors.

HSBC Invoice Factoring sees HSBC sensitively manage the business’s credit control and sales ledger, freeing up time by collecting payment from the customer. HSBC will advance up to 90% of the invoice value by the next working day, then collects the debt and the customer receives the balance less any charges. With HSBC Invoice Discounting, They advance up to 90% of the invoice value by the next working day, then the business manages the debt collection and credit control.

HSBC can be seen to offer comprehensive Factoring and Invoice Discounting facilities that are of benefit to many businesses requiring improved cashflow.

Author: Tony Platts, Managing Director, First Factor Finance Limited, 07/10/2009