Aldermore, a new British bank, has launched the Aldermore Business Confidence (ABC) fixed fee factoring package to help thousands of small businesses across the UK cut the cost of cash flow finance.
ABC enables small businesses with a turnover of up to £500,000 to immediately access and use cash tied-up in unpaid invoices. There are no set-up or administration charges and both the servicing and discounting fees are fixed for two years from inception. CHAPS payments and online access to Aldermore’s factoring system are included in the monthly fee and ABC customers also qualify for a free copy of Sage’s Instant Access Account software.
Ian Wilkins, group managing director of commercial finance at Aldermore, said: “The objective behind the launch of ABC is to provide small businesses with a completely transparent, fixed fee finance package which will help boost their cash flow and give them greater budgetary control. A number of surveys have indicated that many small business owners are confused about the cost of invoice finance facilities, making them unwilling to investigate further the benefits of factoring. This new package takes away all the concerns regarding fees and charges, as they are included in the simple fixed monthly fee.”
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