Comments for factoring blog for news and views from the world of factoring

Comment on The worst kept secret in the factoring world revealed by Ian

Ian — Tue, 15 May 2012 13:54:37 +0000

Completely co-incidentally within half an hour of posting the above blog comment I came across a page on Touch’s website titled “Is your website losing you business?”

It included the following:-

“The quality of your website helps determine how potential customers view your business, and it influences their buying decision.

once your website is displayed, its appearance or content could be enough to deter someone from getting in touch with you. The quality of your website says something about your business, and that message can be enough to turn buyers away”

Comment on Factoring – lender of last resort no more by Ian

Ian — Mon, 14 May 2012 16:14:22 +0000

Wonga has pledged to make loans available to firms within 15 minutes. The interest rate will start at 0.3 per cent a week, rising to two per cent a week for businesses with a poor credit record.

Firms must pay an arrangement fee of between one and five per cent of the loan, which can be from £3,000 to £10,000, and there are penalties of £10 a time for missing a weekly payment.
Businesses

Comment on Factoring awards – what a sham by Ian

Ian — Sun, 06 May 2012 09:32:27 +0000

I’ve now received an email in my own name telling me that I’ve also been nominated in the banking category too. This is probably the biggest list of nominations in history as I guess that every person that they have found an email address for has been nominated

Comment on RBS Invoice Finance factoring charges yet again by kenm

kenm — Sun, 06 May 2012 09:14:18 +0000

I have a similar story re: RBSIF. In 2007 they were presented by our bank as a suitable option to funding the expansion of our business. The offer looked OK. The reality was fees that were probably triple what we are paying now, truly incredibly awful credit control, bad accounting, incorrect statements to clients, legal action when not required, a damaged reputation with our clients, loss of clients as a result and finally an unannounced reduction in the facility after we started to complain. So don’t simply consider the financial cost of factoring – albeit this is important – also consider if the factoring company understands your business and can actually provide effective credit control. Would I personally recommend RBSIF – not in a million years. Since then I’ve experienced both Clydesdale and Bibby and they are both streets ahead.

Comment on Touch Financial Support | are they ethical or not by Ian

Ian — Wed, 02 May 2012 06:49:24 +0000

It looks like Touch have suffered from the recent Google Penguin algorithm change as they have been unceremoniously dumped from their top spot on Google to the bottom of the second page where no-one will find them.

Google don’t like sites that are over optimized and it looks like Touch as well as another broker who also has web pages designed to attract people actually looking for someone else are the major sufferers of “Penguin” as to be honest no-one looking for factoring on Google will bother looking at the bottom of page 2

It must be karma

Comment on Has anyone successfully sued a factoring company for inadequate performance by peter craig

peter craig — Tue, 17 Apr 2012 09:20:59 +0000

Yes I have (for 30 m) and if you have been wronged standup to them.
For a chat send me an email and I will discuss in private.