How does Export Factoring work?
When you send an invoice to your overseas customer, you also send a copy of the invoice to the bank or financial services provider, such as Bibby Financial Services, that is offering the export factoring facility.
They will send you up to 80% of the invoice value, and if with Bibby Financial Services, then this is sent within 24 hours.
The bank or financial services provider will then collect the payment on your behalf and when payment has been received you will be sent the remaining balance minus any agreed fees.
Export Factoring & Finance FAQs