If you are looking for a Fairbanks factoring company, contact Business Factors & Finance today. With offices throughout the U.S. and Canada, Business Factors is a full-service, turn-key financial services company established in 1999. We cater to small- and medium-sized enterprises (SMEs) with $50,000 to $50 million in annual revenue. Services are available 24/7, 365 days a year.
Factoring is the sale of outstanding invoices (accounts receivable) at a discount to a factoring company like Business Factors. It allows businesses to obtain working capital to finance their day-to-day operations and relies on the creditworthiness not of the business but of its clients. Business Factors can help you monetize the invoices in as little as 24 to 48 hours.
With an office local to the region, Business Factors provides a range of cash flow solutions, including:
- Invoice, small business, non-recourse, and spot factoring as well as startup financing. In non-recourse factoring, if the invoice is ultimately not collected, Business Factors absorbs the loss. This is the opposite of recourse factoring, where the business that sold the invoice must replace the invoice or repay the purchase price if its client does not pay within a specified period of time. Spot factoring is a convenient way for a business to try out factoring by selling one or two invoices to a factor (as opposed to the business’s whole book).
- Asset-based lending and accounts receivable financing. Asset-based lending uses a company’s assets — such as its accounts receivable and inventory — as collateral. These loans are subject to a borrowing base, which is the maximum amount the business can borrow based on the value of its assets. To be eligible for asset-based financing, businesses should be operating for at least six months and have at least $1 million in annual revenue.
- Cash flow and revenue-based lending as well as working capital loans. To find the best working capital solution for your business, contact our office today.
- Small Business Administration (SBA) loans. These loans may require a lot of paperwork and can be hard to qualify for, especially if you don’t have help. Contact one of our experts today for help in preparing a winning application.
- Purchase order (PO) financing. Purchase order financing is financing extended to businesses that supply resellers so they can fulfill orders placed by end customers. PO financing is initiated by resellers and allows them to take on orders they would otherwise be unable to fulfill. This in turn helps them build stronger relationships with their clients.
Business Factors caters to a wide variety of industries and businesses, including:
- Oil and gas
- Government contracting
- Seafood factoring
- Freight and trucking
- Information technology
- Telecom, Wi-Fi and cable
Contact Business Factors & Finance today to find the best working capital alternative for your business.