Invoice Finance Insights | Go-Factor
Existing invoice finance · Independent review
Switching Invoice
Finance Providers.
Could Yours Work Better?
Yes. UK businesses can switch invoice finance providers when their existing facility has become expensive, restrictive or unsuitable. Go-Factor helps businesses review their current arrangement, explore suitable alternatives and make a well-planned introduction to a new funder.
Independent UK broker · NACFB member · No additional broker fee
Can I switch invoice finance providers?
You do not have to remain with an invoice finance provider that no longer supports your business. A switch may improve available funding, service, flexibility or overall cost. However, the right result depends on more than finding a lower headline rate. Go-Factor looks at how the complete facility works for your business.
Recognise any of these?
Why Switch Invoice Finance Providers?
An invoice finance facility that worked when your business started may not remain suitable as sales, customers and contracts change. Therefore, it is sensible to review the arrangement when funding feels restricted or service levels begin to fall.
Businesses commonly approach Go-Factor because:
Funding restrictions
- their current facility is no longer releasing enough working capital;
- customer concentration restrictions are limiting availability;
- important customers or invoices are not being funded;
Costs and service
- fees have become difficult to understand or too expensive;
- service has become slow, impersonal or unreliable;
- the existing provider no longer understands how the business trades.
Business growth
- the business has outgrown factoring and may suit invoice discounting;
- the company wants greater control over credit management;
- new contracts or rapid growth require a more flexible facility; or
Go-Factor in Action
A funding and banking switch that saved £12,000 a month.
Go-Factor helped a business restructure its funding and banking, combining an invoice discounting facility, a term loan and a full banking switch.
The saving relates to the complete funding and banking restructure.
Go-Factor negotiated improved pricing and coordinated the facilities around the client’s growth plans. Our work was recognised with a Lloyds Banking Group Signature Deal Award.
What Could a Better Facility Improve?
Switching should produce a meaningful business benefit. Although price is important, the cheapest quotation is not always the best facility.
A carefully selected replacement may provide:
- more usable cash from the sales ledger;
- a more suitable advance rate;
- better customer and concentration limits;
- clearer pricing and fewer unexpected charges;
- funding for a wider range of eligible invoices;
- better service and faster day-to-day decisions;
- confidential invoice discounting where appropriate; or
- a facility that can grow alongside the business.
Go-Factor considers the overall funding outcome rather than concentrating on one attractive rate while overlooking restrictions elsewhere.
A clear route forward
How Go-Factor Helps You Review and Switch
Understand your current facility
The process begins with a friendly, straightforward fact-find call. Helen learns about your business, why the current facility is causing concern and what you would like a replacement facility to achieve.
Compare suitable funders
Go-Factor then speaks with suitable funders from its wide UK funding panel. Where there is a strong potential match, Go-Factor makes the introduction. The proposed funder will explain its requirements, assess the business and provide its terms.
Decide with confidence
You can then compare the proposed facility with your current arrangement before deciding whether a switch is worthwhile. There is no obligation to move simply because alternatives have been explored.
Before you move
Plan the switch around your business.
Understand the existing agreement, the proposed facility and the transfer process before deciding to move.
Can You Switch Before Your Contract Ends?
It may be possible, although your existing agreement could contain a minimum term, notice period or early termination charge. Consequently, the current contract should be checked before committing to a transfer.
In some cases, notice can run while the proposed replacement facility is being assessed. The actual timetable depends on the existing agreement, the business, the sales ledger and the new funder’s approval process.
Will Switching Disrupt Cash Flow or Customers?
A properly coordinated switch is designed to maintain funding continuity. The existing and incoming providers normally agree a transfer date and settlement process once the new facility has been approved.
Customers may need updated payment instructions. Where confidential invoice discounting is used, the arrangements may be handled differently. The new funder will explain the required process before the transfer takes place.
No broker or funder should guarantee that every transfer will be instant or disruption-free. However, early planning can reduce the risk of avoidable delays.
Can Go-Factor Help If the Business Has Problems?
Yes. A County Court Judgment, HMRC arrears, previous losses, rapid growth or a difficult relationship with the current provider will not automatically prevent a review.
Go-Factor will listen to the background and identify funders willing to consider the circumstances. Every application remains subject to the funder’s assessment and approval, but a previous refusal does not always mean that no suitable option exists.
Personal support. Experienced guidance.
Why Work With Go-Factor?
Go-Factor is an independent UK commercial finance broker specialising in invoice finance and cash-flow funding. Founded by Helen Boylett-Smith, Go-Factor helps new starts, growing SMEs and established businesses understand, compare and secure suitable funding.
These achievements support Go-Factor’s experience, but the conversation remains personal and uncomplicated: a pleasant fact-find, a discussion with suitable funders and an introduction where the fit looks right.
Your questions, answered
Frequently Asked Questions
Can I switch invoice finance providers?
Yes. Subject to your existing agreement and approval from the proposed new funder, an invoice finance facility can be transferred to another provider.
Is it worth reviewing my current facility?
A review may be worthwhile if funding is restricted, costs are unclear, service has declined or the facility no longer reflects how your business operates.
Will switching automatically save money?
Not necessarily. A review should compare total cost, available funding, restrictions, service and flexibility rather than assuming every switch will reduce fees.
Can Go-Factor review invoice factoring and invoice discounting?
Yes. Go-Factor can consider factoring, confidential invoice discounting, selective debtor finance, spot finance and other suitable cash-flow solutions.
How long does switching take?
Timescales vary according to the notice period, facility complexity, information required and the new funder’s assessment. Go-Factor will help you understand the likely process before an introduction is made.
Don’t Flood the Market with Funding Enquiries
Approaching several brokers and funders at once can create duplicate submissions, repeated calls and unnecessary searches.
Start with one conversation with Go-Factor and tell us who you have already approached. We get to know your business, compare suitable options and coordinate introductions, helping you review the funding, costs and terms before deciding whether to switch.
One conversation. Carefully selected funders. Support through to completion. No additional broker fee.
Start with a conversation
Is Your Current Invoice Finance Facility Still Working for You?
If funding feels restricted, costs are unclear or service has declined, speak to Go-Factor. A friendly fact-find call can establish what is causing the problem and whether suitable alternatives may be available.
Prefer email? Email Go-Factor about your current facility
Fast. Flexible. Funding, Built Around Your Business.
