Davenham is the latest factoring company to cease

Aston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

It has been well known for a while that Davenham were in serious trouble and they have been pretending to lend recently rather than actually doing so.

The staff were told to expect a decision on the company’s future by the end of June and that future now seems to be that they are formally ceasing to write new business whilst the company enters “collect out” mode.

Whilst it is possible for them to collect out their loan book in a prudent and orderly manner as claimed by the company, one cannot do that with factoring so I hope that arrangements are in hand to transfer the book to another factoring company causing as little pain as possible in the process.

This is the third factoring company in a very short space of time to crash into the rocks following hard on the heels of Aston Rothbury a few days ago and Challenge a few months ago so let’s hope that this is the end of it now as it doesn’t do the industry any good at all.

Posted under Factoring, Factoring companies

This post was written by Ian on July 2, 2010

Tags: Aston Rothbury Factors, Davenham

--

View the Original article

Aston Rothbury portfolio acquired by Bibby

Davenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on e-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

Bibby Financial Services have acquired the client portfolio of Aston Rothbury Factors which apparently comprises just 40 clients and is considerably less than the 109 clients claimed in Business Money earlier this year.

Posted under Factoring

This post was written by Ian on July 27, 2010

Tags: Aston Rothbury Factors, Bibby Financial Services

--

View the Original article

Another factoring broker who thinks it’s acceptable to steal intellectual property

Aston Rothbury portfolio acquired by BibbyDavenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

One of the problems that being top of the search engine rankings causes me is that there are always unscrupulous people out there who rather than develop their own websites just copy mine.

Since I started this blog I have commented twice on unscrupulous rogues that have copied my website and now another one has crawled out of the woodwork.

factoringandfinance.co.uk and ajmartinco.com are word for word copies of www.factoringsolutions.co.uk with only the chap’s name and phone number changed. I telephoned him to ask him why he had stolen my intellectual property and he denied it saying that it hadn’t been copied.

One would have to be pretty stupid to try and make a case out that his website is original, especially when the source code still includes a link to my stats package complete with site name.

I repeat what I have said before

View the Original article

Save money and use a factoring broker

Another factoring broker who thinks it’s acceptable to steal intellectual propertyAston Rothbury portfolio acquired by BibbyDavenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

I like to think that the major advantages of using the services of a specialist factoring broker like myself is that many of the factoring companies don’t perform as well as they claim and I know the market sufficiently well to steer companies away from the poorer performers.

Whilst some companies might approach me with this view in mind I’m sure that many would rather approach the factors directly believing that it would save them money on the basis that if I receive an introductory commission from the factoring company they would get a cheaper rate by going direct as the factor wouldn’t then have to pay me.

I received an email last night from a prospective client asking me to quote an approximate rate for his business. I spoke to my contact at the factoring company that I thought to be most appropriate who quoted me a rate which I subsequently emailed to the prospect.

I received a telephone call this morning from him saying that he wished to go ahead at the quoted rates but he was quite surprised when I told him which factoring company it was as he had already approached them directly and they had quoted a significantly higher rate.

Posted under Factoring companies, factoring brokers

This post was written by Ian on September 21, 2010

--

View the Original article

Bibby is not being taken over by Ultimate Finance

Save money and use a factoring brokerAnother factoring broker who thinks it’s acceptable to steal intellectual propertyAston Rothbury portfolio acquired by BibbyDavenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Ian on jules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

Shares in Ultimate Finance were suspended this morning subsequent to an announcement that talks were well down the road leading to a reverse take-over of another factoring company.

Needless to say the wires have been hot with speculation today and so far it has been confirmed that 15 different factoring companies were the target according to 15 different people with Bibby being the only one so far that hasn’t been mentioned.

I will admit now that I honestly haven’t a clue who the target is and although I can rule out many of those being speculated about on the basis of size, culture or geography I can’t come up with a sure fire alternative.

Posted under Factoring, Factoring companies

This post was written by Ian on September 22, 2010

Tags: Ultimate Finance

--

View the Original article

What exactly is Accounts Receivable Factoring

Accounts Receivable Factoring is a technique of increase the amount of cash for the company. The companies that will be able to do this are the ones that are business to company. Should you don't do this, then you will not be able to have your invoices factored. Factoring is a way of discounting your invoices and selling them to investors or factoring businesses. Some variables will figure out the factoring fee that you'll need to pay for invoice factoring, but generally the fees will be low.

From Yahoo:

“The Royal Bank of Scotland Group plc has agreed the sale of RBS Factor SA to GE Capital,” the bank said in a statement. Factoring may be the procedure whereby money is advanced to businesses, as a proportion of revenue from invoices issued. The debt is reassigned towards the factoring company, which enables them to collect it. RBS, which had sold already its German factoring division to GE Capital in March, did not disclose how much is going to be paid. Both deals are subject to regulatory approval and expected to complete by the third quarter of 2010. RBS added: “As part with the group's strategic plan, announced in February 2009, this business was placed in the non-core division while the group sought a new owner having a long term commitment to the factoring sector in France.”

The Factoring Buiness is definitely large. If there are enough margins to account for the factoring costs, then this can take your company to the next level. Increasing the bottom line and giving your business the growth that it's asking for is one with the greatest things that you can do for the company. Certainly look into getting your invoices factored so that you always look at your choices.

This entry was postedon Saturday, May 22nd, 2010 at 1:14 pmand is filed under Uncategorized.You can follow any responses to this entry through the RSS 2.0 feed.You can leave a response, or trackback from your own site.

Leave a ReplyClick here to cancel reply.

You must be logged in to post a comment.

Accounts Receivable Factoring

View the Original article

Accounts receivable factoring is the best Option

Trucking , Freight and Factoring in Canada have become somewhat synonymous terms. Let's look at some of the reasons for that.

Canadian Trucking and Transport firms have historically been significantly challenged in financing their company through traditional working capital methods – i.e. bank loans, bank lines of credit, working capital term loans, etc. When these are not available (for a variety of reasons!) Your trucking and transport firm, no matter what size, should consider receivable financing, also known as freight factoring .

In the past we have spoken of the 'working capital gap '. Nowhere is this 'gap 'more evident in the trucking industry. Will it require rocket science to understand the gap? Not really, it's as simple as this – your drivers, fuel suppliers and other want to be paid weekly, or within 30 days, whatever their terms are with your firm. You have receivable, but these tend to be collected in 60 days, sometimes more, sometimes less, mostly more!
That's the working capital gap.

As a trucker or truck firm owner you are looking for a better way to finance your business. Truck factoring / freight factoring in essence give you an unlimited amount of credit line based on the receivables as collateral. As your business grows, so does your factoring facility.

This type of accounts receivable or invoice discounting facility allows you to pay suppliers and employees, and further allows you to focus on growing your business. What you are doing in essence is capitalizing your business with the proper amount of working capital. That's common business sense, and allows you not to tap into either personal financial resources or enter into long term loans, assuming you qualify for those loans – many don't in the somewhat challenging current financial and banking environment.

So it all sounds kind of easy, do it not. There are of course issues you have to both understand and address. One if of course fees, which range in Canada from 1-3% per month. As a business owner of financial manager of a truck or transport firm there are numerous ways in which you can offset part, or in some cases all of your financing charges. One of these very obvious ways is to use the new cash and working capital that you generate from your factoring and accounts receivable discounting facility to pay suppliers on time and take their discounts.

When we talk to Canadian business firms, including truck or transport firms more and more of their time is focused on looking for cash flow solutions and not on running and growing their business. With a proper accounts receivable and factoring facility you can focus on growing your firm's sales and profits.

In Canada factor solutions for truck and transport firms, how they work on a day to day basis, and their costs differ greatly, and we mean greatly. We recommend you talk to a trusted and experienced advisor in this area to maximize the solution that's best for your firm in terms of rate, structure, and day to day paperwork.

Factoring

This entry was postedon Wednesday, May 26th, 2010 at 4:20 pmand is filed under Factoring.You can follow any responses to this entry through the RSS 2.0 feed.You can leave a response, or trackback from your own site.

Leave a ReplyClick here to cancel reply.

You must be logged in to post a comment.

Accounts Receivable Factoring

View the Original article