Location: Seattle, WA
How Much? $100,000
Getting money for your small- to medium-sized business in this economy can be difficult. It sometimes seems like the more you need the money, the harder it is to get your hands on it. This is especially the case for certain types of higher risk businesses and industries such as car, truck and SUV transportation companies.
Because such automotive transportation companies lift, secure, and then tow high cost vehicles, many corporate banks and even third-party invoice factoring companies won’t touch them. This is true even when the auto transportation company is profitable and otherwise successful. Unfortunately, these lending institutions and factoring companies have determined that the inherent risk in hauling vehicles – the possibility the vehicles may get damaged in the transportation journey – is too great. As such, most transportation factoring companies will deny their factoring receivables requests.
When Credentials Are Solid, Factoring Company Sees Risk as Opportunity
One such vehicle transportation company needed cash to grow their business but found most commercial financing companies unfriendly. Despite these inherent risks, Business Factors & Finance assessed the whole situation and offered $100,000 in factoring receivables credit to the Seattle-based transport company, the full amount it was seeking. The company needed the cash to shore up their operations, improve cash flow and ultimately expand its fleet of trucks. It would not be able to grow as it needed to without the cash from account receivables factoring.
Transportation Factoring Enables Northwest Company to Grow
When every other transportation factoring company they asked turned them down, Business Factors & Finance, an invoice factoring and commercial financing company with more than 40 years’ experience, was glad to step up the plate and to help their business thrive and grow. Provided that a company has a solid history, proper credentials and reliable customers that routinely pay their bills, BusinessFactors.com does not take the position that a company is automatically disqualified from factoring accounts receivables just because of the high risk nature of its industry. If fact, its the opposite.
Unlike other invoice factoring companies, Business Factors & Finance reviews and analyzes every application to factoring receivables on a case-by-case basis. It does not routinely write off a request that may be classified by other institutions as “high-risk.”