A Cash Flow Solution for Startups and Established Businesses Alike
Whether you run a promising startup or lead an established business, cash flow is a source of constant concern. Without a steady infusion of cash, businesses face a host of critical challenges, including:
- A potential lack of working capital while awaiting payment for invoices for 30, 60 or 90 days
- Missed opportunities to secure new contracts or expand the business
- The risk of incurring greater debt than a fledgling (or established) business can sustain
When your business has cash flow problems, borrowing from banks and other lending institutions only adds to your cost. Invoice factoring services from Business Factors can significantly reduce those costs—and provide new opportunities for growth.
Turn your invoices into ready cash, practically overnight
Factoring invoices through Business Factors is fast and offers many advantages over bank loans:
- Receive an advance of up to 96% of the face amount of your unpaid contracts.
- Avoid time-consuming collections. Business Factors assumes 100% of the responsibility of getting your invoices paid.
- Choose from many options not typically offered by other invoice factoring companies.
- Be approved in 24 hours or less without any reliance on your personal credit scores or business history.
- Know that all invoice factoring transactions with Business Factors are completely confidential.
- Pay no fees up front and enjoy a fast and simple application process.
By factoring invoices with Business Factors, you have no interest payments to make and no time, effort or money spent on collections of unpaid invoices — and no more cash flow problems.
How does invoice factoring work?
Invoice factoring is when a business sells its most current invoices to an invoice factoring company and then collects on them within 2-3 days (or less). The debtor, or the business’s client, remits payment directly to the factoring company within the usual 30-day window.
By partnering with a factoring company, a business can receive up to 96% cash advance on outstanding invoices with low rates. This process takes no more than 24 hours and can help businesses get instant access to the funds owed them.
Here’s a quick look at the invoice factoring process:
- You complete an application (generally takes less than an hour), offering verifiable information about your business as well as a copy of those invoices you’d like to factor. Whenever possible, you should choose the largest, most recent invoices from your most reliable, creditworthy clients.
- The factoring company runs a credit check on your client, not on your actual business. This is a key difference between invoice factoring and applying for a bank loan. Business Factors & Finance focuses more on your clients’ creditworthiness and good standing.
- If your client passes verification and due diligence, the factoring company begins the immediate process of purchasing those invoices (receivables). It will pay you the bulk of the value of the invoice (up to 96%) within 48 hours.
- You take your money and use it however you need to. Business Factors doesn’t monitor or review how you choose to spend your own money. Remember: Factoring isn’t a loan and there’s nothing to pay back.
- Your trustworthy client pays its bill on time to the factoring company, which then remits you the remainder. It then takes a percentage (most companies start at 1% and go from there) for handling and expediting this process and charges a fee for each invoice processed.
Once you’ve decided to work with an invoice factoring company and it has acquired those delayed client invoices, you’re able to put the cash right back into your business in order to meet any growing demand. There are a large number of invoice factoring industries, since every business operates differently and has different needs.
Whether you’re trying to invest in new property, expand payroll, or purchase permits, invoice factoring companies give you the necessary flexibility to grow.
How invoice factoring benefits your company
You can attract better customers. With your new strong source of capital, you can attract better (and higher-paying) clientele. Clients will be more likely to choose your business over others, as you have the funds needed to complete projects on time (both large and small), without incurring financial complications. These new resources enable you to make informed, calculated decisions about the clients you take on to ensure a more profitable future.
Your business grows faster. Invoice factoring gives your business the capacity and flexibility to help you grow at a faster pace than if it was funded by a loan. By partnering with an invoice factoring company, your business can get the resources it needs to take on larger clients, expand into new locations, strengthen staff, and more. With strong working capital, your business will have the resources it needs to keep up with immense growth.
You bypass the damaging effects of debt. Rather than borrow money from a bank, partnering with an invoice factoring company allows you to gain access to the funds owed to your business. With invoice factoring, your business is simply getting a cash advance for a small fee.
Starting a business typically means taking on some form of debt to set up shop. With invoice factoring, you won’t have to. You can set your business up for a debt-free future, which is something that many businesses struggle with every day.
Team up with Business Factors & Finance
When you opt for factoring invoices with Business Factors, you have no interest payments to make and no time, effort or money spent on collections of unpaid invoices — and no more cash flow problems.
Enjoy a quick approval and turnaround process.
With other forms of financing, such as business loans, a bank or other lender will look into the financial history of your business—making it difficult for startups or businesses with poor credit to get the cash they need. Making things even more difficult, once other lenders or banks have approved you, you can still end up waiting up to 90 days to receive payment, putting your business into a deeper financial hole. By partnering with an invoice factoring company, you can get immediate cash flow that will allow you to build a strong source of working capital for growth.
One of the best aspects of working with Business Factors is we can purchase your outstanding invoices and advance up to 96% of the total for low rates. Best of all, this approval and turnaround can happen within 24 hours, which means you’ll be back to meeting customer demands as soon as tomorrow!
Get top-quality service and attention.
With decades of experience in all industries, we understand the difficulties you have when your business experiences cash flow problems. That’s why we have established the virtually effortless process that ensures you get your business invoice factoring completed quickly and efficiently. This process gets you the money you need fast.
Call us anytime 24/7.
Few invoice factoring companies can provide the availability, the attention, the service, the terms and the speed of invoice factoring you get from Business Factors. Our business development representatives are available 24/7 to answer any questions you may have and to get you started on saying goodbye to your cash flow problems forever.