Factoring quotes obtained online seem to be on the increase but whether or not it’s a recommended option is a moot point and Factoring Solutions don’t offer that facility for very good reasons as the cheapest factoring rates are rarely the best and in too many cases can actually be the worst.
Factoring is the provision of finance with a service element thrown in for good measure and it’s that service element that is highly variable from one factoring company to the next that makes an automated online quoting system potentially dangerous.
What is the point of receiving factoring quotes from different factoring companies if the service received from the cheaper one is so poor that you would end up paying more with them than the factoring company that was supposedly more expensive.
Comparison websites may work for car insurance or utility companies as there is little service involved and price is normally the driver but it doesn’t work for factoring and we believe that factoring comparison websites are only of benefit to the website owner and not to the customer. This is why we do not offer such a service and prefer to operate the old fashioned way where people telephone us and discuss the options with a real human being.
To show what we mean about the potential pitfalls we have made some notes including poor service levels with some factoring companies, problems with funding levels and why a cheaper headline rate could end up costing far more
Factoring Solutions
5 Torridge, Hockley, Tamworth, Staffordshire B77 5QL
Tel: 01827 707680
Email: infoNOSPAM@factoringquotes.org.uk
(please remove NOSPAM from email address)
