Credit solutions provider, Coface UK, part of the international Coface Group, is developing a factoring service to complement its existing range of credit reporting, insurance and collections products. The service is scheduled to be launched in 2004.
The announcement will be welcomed by all companies, including SMEs, wishing to improve their cash flow position in the long-term, while reducing their exposure to non-payment risk. The non-recourse service means that customers will benefit from Coface UK's proven expertise in credit control as invoices will be pursued by the company's experienced collections team. Meanwhile, Coface UK brokers will benefit from the opportunity to increase business by offering customers receivables financing as an add-on service.
