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Quick Application
Tailored Facility
Advance Rates up to 90%
24 Hour Funding Guaranteed for Our Clients
Is Invoice Factoring right for your business?
Invoice factoring is the perfect solution for companies seeking funding to improve their finances while waiting for customers to pay invoices. If you have customers who are slow to pay or work in a field where seasonal highs and lows are the norm, factoring unpaid invoices can help reduce cash flow issues by getting your invoices paid in advance.Invoice factoring offers your customers a more flexible range of repayment terms.
We work with our partner Novuna to ensure a quick approval process and often get a turnaround in as little as 24 hours! With reduced paperwork, we aim to minimise frustration and streamline access to the funds you need to grow your business. Compared to traditional financing, invoice factoring can open up many new opportunities for your business.
Invoice Factoring Made Simple: Your One-stop Business Solution.
Why Invoice Finance with PJN Billings from ?
Immediate Cash Flow: Invoice factoring provides immediate access to cash, improving cash flow.
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No Debt Incurred: Invoice factoring is not a loan, so the recruitment agency is not accumulating debt while accessing immediate funds.
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Time-Saving: Outsourcing the invoicing and collection process saves time for the business, allowing them to focus on core operations.
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Business Growth: With a stable cash flow, you can focus on expanding your business and taking advantage of growth opportunities.
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Guaranteed Savings: We are committed to helping your agency thrive. Our guarantee is that we will beat the rates offered by your current invoice factoring company, ensuring you get the best financial deal possible.
All Under One Roof: At PJN Billings we pride ourselves on being a one-stop solution. With all your financial needs under one roof, from invoice finance to expert financial advice, we offer convenience, efficiency, and a comprehensive approach to support your agency's success.
Funding that's fast and flexible.
You built your business, we help it grow.
Our partner provides access to some of the best invoice factoring rates in the industry, and a quick approval process for business funding. We have worked with companies in various industries across UK offering invoice factoring services. With advances of up to 90% on each invoice and the remainder (minus the factoring fee) once your customer pays the invoice, Novuna gives you access to your income sooner rather than later.
Quick Access To Invoice Factoring
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Competitive Rates
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Flexible Financing Solutions
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Improved Cash Flow
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Exceptional Customer Service
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Minimum Documentation Required
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Will Fund Past-Due (Outstanding) Invoices
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Trusted Business-To-Business (B2B)
Factoring Company
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6 Month Trial
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Award winning service
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Who is a key person?A key person is an individual whose skill, knowledge, experience or leadership contributes to the continued financial success of the business. In fact, it could be ANYONE whose death could lead to a financial loss for the business through: » Loss of profits. » Having to recruit or train a replacement. » Important personal or business contracts lost due to the key person not being there to maintain a contract. » Loss of goodwill which could have a direct effect when it comes to raising capital for the business or attracting new investors. » Customers and suppliers losing confidence
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Do I need to prove someone is a key person?It’s pretty straightforward, as long as you can reasonably show that the business stands to suffer a financial loss of profits as a result of the death, terminal or critical illness (if chosen) of that employee. They are classed as a key employee.
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What if the key person leaves/retires?If a key person were to leave or retire before the end of the key person protection policy term, the business could do one of the following: » Stop paying the premiums and the policy would then lapse. » Continue paying the premiums until the end of the policy term and, in event of a claim, the business would receive a capital sum. » Assign the policy to the key person who would then become the legal owner of the policy and could continue paying the premiums. Where a partner is a key person and the policy is written in trust, the policy would automatically revert to the key person.
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Why use a trust for a partnership?A partnership in England, Wales and Northern Ireland cannot be the owner of a policy because it does not have a separate legal identity. If the key person is one of the partners, that partner could take out their own life plan, and write it in trust, at outset, for the other partners. We have in-house trust experts to guide you through the process. The taxation of this can be complicated, for both the company and the life insured. National Insurance and Capital Gains tax may also need to be considered. Our advisers can help by providing specialist advice on this.
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Are the premiums tax deductible?If an employer insures their business against loss of profits due to the death, critical illness, accident or injury of an employee, director or another key person, the premiums may be tax-deductible if: » The sole purpose of the insurance policy is to meet a loss of trading income from the loss of that key person, and not a capital loss to the business » If the insurance is a term insurance policy providing cover against the risk of one or more key lives within the term of the policy, and no other benefits. It’s also important that the insurance term should not exceed the key employee’s usefulness to a company