Last week HSBC launched a new financing package targeted at business customers, offering a comprehensive invoice finance (factoring) service.

Invoice financing involves a business selling its account receivables or debtors to HSBC, which take on the role of a factor and make immediate payment and then arrange to collect the debts.

HSBC will also maintain the seller’s credit control function, by managing their sales ledger, collecting due payments from buyers and reconciling account receivables.