Bodyshop finance is a niche area of invoice factoring provided by just one or two traditional factoring companies plus a few specialist motor trade funders.
Many factoring companies are not interested in this market sector due to a variety of potential problems of the legal and operational variety which is why the safest route for any company looking for bodyshop finance is to partner with a company who specialises in this form of funding and understands the quirks of the business.
Factoring and Body Shop Finance Solutions partner with two specialist financiers who both operate slightly differently.
The first is a traditional independent factoring company renowned for the quality of their service who have a specialist division for the motor trade. They are willing to fund invoices up to a pre-agreed level (often 90%) with the balance being payable less their charges when the customer has paid their account.
The facility is similar to spot factoring in that it isn’t necessary to submit every invoice but the client (yourself) can pick and choose which invoices to submit as and when funding is required.
The second company that we partner with is a specialist bodyshop funder who operate slightly differently as they will make available 100% of each invoice value less their charges without recourse so that if your customer goes into Administration or Liquidation it is their loss and not yours.
This facility is available without having to give either a debenture over the company’s assets or personal guarantees which makes it our preferred solution in most cases and the finace company are only able to offer this extensive facility due to their extensive knowledge of the workings of the motor trade
Factoring and Body Shop Finance Solutions is part of Factoring Solutions UK Ltd who have been operating as specialist factoring brokers since 1999 so why not give us a call to discuss the various options available for your company completely without obligation and without any charge at all as all our services are free of charge
Interested in how our factoring broking services can benefit your business?
Factoring and Body Shop Finance Solutions
Telephone 01827 707680
or complete our contact form if out of hours and we will get back to you