Securing financing for your business is an issue any company can face particularly in these somewhat uncertain times. Payroll costs are expensive as is overhead, equipment maintenance, and just keeping business operations moving forward. When difficult situations arise or whether you need a regular cash infusion to keep ahead of your bills, there are a number of advantages to using factoring accounts receivables.

Expediency: Get Your Cash When You Need it with Invoice Factoring

Probably one of the most popular reasons businesses turn to account receivables factoring is that you can get your money in less than 48 hours. Unlike corporate banks that will make you wait weeks before they even give you a lending decision let alone give you the money you are seeking, factoring services let you get your money right away. In addition, if you do not qualify for factoring services, you will also be notified of that right away so at least you are not left waiting and wondering when you will get your money.

No Bureaucracy: Hassle-Free Preparation with Factoring Receivables

When you apply for invoice factoring services, you will likely be pleasantly surprised by the lack of paperwork, loan underwriting tasks and filling out long forms that is involved. Yes, there will be some information to be completed but this is mostly to verify and assess the credibility of your company’s current and past invoices. With factoring receivables, you do not need to run a credit check or explain in great detail the reasons you need this money to begin with. This convenient, business-friendly experience is another advantage to factoring receivables services.

Factoring Companies Are a Customer Service-Oriented Enterprise

And last but not least, easy-to-understand contracts and quality customer service are some other key advantages to factoring accounts receivables. Factoring companies are competing for your business against other alternative financial institutions as well as banks. They want your business, and are willing to work to get it by providing a positive customer service experience that is hard to find from these other institutions. Specialists from invoice factoring companies will explain to you, in a way you can understand, the terms of the agreement, the contract and all the financial details involved at every step of the way. This is a key benefit to factoring accounts receivables, and one that really sets it apart from banks. Whether you are a small- to mid-sized business owner, you want to be treated with care and not as just another account. By and large, you will find this at invoice factoring companies.