How Factoring Works
How Invoice Factoring Works for Businesses.
Many businesses are facing challenges. Ongoing effects of pandemic lockdowns, inflation, and supply chain issues are all making it difficult to maintain steady cash flow. Invoice factoring is a type of financial service that can be helpful, even for businesses that may not qualify for traditional funding like a bank loan or commercial loan. Let’s look at how factoring works, its main benefits, and how a business can apply for it.
Get Paid Faster With Invoice Factoring.
You don’t have to wait on slow paying customers with invoice factoring. Check out the easy steps to get paid for your invoices in as little as 24 hours.
Apply for Factoring:
The process is quite simple and fast compared to applying for a bank loan. Complete applications can be approved within days.
Credit Limit:
The factoring company investigates the customers you submit for factoring and establishes a credit limit.
Deliver:
Your business delivers products and services to your customers as usual. You upload the invoices to the factoring company’s portal instead of sending to your customers.
Verification:
After verifying that the product/service was delivered, the factoring company pays you the value of the invoice minus a transaction fee.
Payment:
Your customer pays the factoring company.
Invoice factoring is a reliable alternative to more traditional means of financing for businesses, such as small business loans, commercial loans and small business lines of credit, among others.
Our Process.
Step 1
Assessment.
Complete form to become a client & determine the credit worthiness of your debtor.
Step 2
Compliance.
Identify and comply with contract terms for immediate invoice factoring eligibility.
Step 3
Management.
We handle all of your accounts receivable and develop a customized factoring plan.
Step 4
Funding!
Receive funds to make payroll, hire labor, secure equipment and purchase material.
What our clients are saying.
