I am writing this today because I was contacted by a company who had approached a broker to arrange a factoring arrangement for his business. The broker had introduced him to a factoring company who had made an offer which on the face of it offered a 90% advance but on closer examination the actual percentage drawdown was far less because of certain restrictions, such as credit limits and concentration limits. It transpired that the broker had glossed over these issues implying that these restrictions would be waived and the company would benefit from the high drawdown.
Sadly this sort of situation is quite common as it is clear that certain introducers are not setting out the full implications of offers that they are presenting to their prospects. Findmeafactor prides itself on ensuring that every proposal is fully evaluated in order to ensure that the proposed facility meets the needs of the prospect.