UK's first online factoring service launched by Click4cashflow

Internet Business News, July 11, 2005

INTERNET BUSINESS NEWS-(C)1995-2005 M2 COMMUNICATIONS LTD

The UK's first online factoring service to enable companies to access money owed to them has been launched by Click4cashflow, a subsidiary of ABN AMRO, a global banking group.

Click4cashflow is conducted over the Internet, with a conditional decision given in 15 minutes, said to make it the quickest turnaround from a UK factoring company. According to Click4cashflow final approval can take as little as 24 hours and follows the submission of original documents such as sales ledgers and final audited accounts. The company said that businesses can then access up to 85% of the value of their invoices, 24/7.

Access to account managers for credit control advice is provided, should businesses require it, and free debtor evaluation, bad debt protection and regular reports are included as part of the service.

Click4cashflow is claimed to be suitable for small to medium sized businesses in England and Wales with a turnover of up to GBP3m. Cost per invoice is GBP4 +VAT and more information can be found at http://www.click4cashflow.co.uk.

((Comments on this story may be sent to info@m2.com))