Factoring Services | A Complete Guide

Man Discovering an Invoice Factoring SolutionIf you are considering an alternate financing solution for your business, factoring is one of the best. With invoice factoring, your business can receive an advance of up to 96% of its unpaid invoices in just 24 hours or less with low rates.

With factoring, you are getting financing that is risk free. With some factoring services, the invoice factoring company will be responsible in the case that your client does not complete payment on the invoice factored.

They will eat the charges of the amount factored, which allows your business to keep more cash in its pocket and secure a strong source of capital for growth.

What is Invoice Factoring?

One of the most common questions that business owners ask us every day is, “What factoring service is right for my business?” Here are the most common types of invoice factoring.

Non-Recourse Invoice Factoring Services

Non-recourse invoice factoring is a factoring service that gives business owners a risk free solution. As mentioned before, non-recourse invoice factoring allows your business to get up to 96% of the invoice total in advance in just 24 hours. When you factor your invoices, the invoice factoring company will take on 100% of the liability of repayment on the amount factored if your client fails to complete payment on their invoice.

This is a major benefit to your business as it allows for you to get a cash in your pocket and know that it will stay there. You will be able to secure a strong source of working capital for your business without incurring any additional debt to your name. With non-recourse invoice factoring you are simply getting access to the money owed to your business, not borrowing more.

Small Business Factoring Services

For small businesses that don’t need to factor much, small business factoring is a great way to get fast financing. As a small business, any late payment or lag in payment can affect your business in a major way. It can affect payroll, inventory, and worst of all your credit.

With small business factoring, you can factor as little as $2,000 in just 24 hours or less. We’ll work with your business to determine the invoices you’d like to factor with us so you can get paid for your invoices now.

Payroll Funding Services

With payroll funding, your business will be able to factor its invoices for the sake of securing cash for payroll. Payroll funding allows you to receive funds owed to your business without adding debt.

When you use payroll factoring, you’ll get fast, secure funding to help increase the financial strength of your business.

Spot Factoring Services

With spot factoring, your business will be able to factor a single invoice, rather than all of them. This is for clients that need to recover from a large order that completely depletes cash flow. With spot factoring, you can expect easy credit qualifications, no additional debt, and no long-term contracts.

Credit Card Factoring Services

For restaurants, retailers, small and mid-sized businesses, this is a great form of alternate financing for your business. Credit card factoring is a cash advance transaction. With credit card factoring, you’ll get a cash advance on your future credit card sales, without incurring any additional debt.

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About the Author:

Robert Bernfeld started in the commercial finance industry in 1974. His early years included positions with Aetna Business Credit and Foothill Group. During the next thirty five years. Mr. Bernfeld established both equipment leasing and accounts receivable factoring companies.He partnered in founding Business Facilitators, Inc. in 1999. Mr Bernfeld graduated from the University of California, Riverside in 1974 and received his Juris Doctorate from Loyola University School of Law in 1977.

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