Risk-free, immediate access to money owed to your business
Is your company perpetually low on cash, due to late-paying clients? Without an adequate cash flow, your business growth may be threatened, allowing competitors to sweep in and take on the big projects you wanted to secure. When your business is low on cash, turn to Business Factors & Finance to collect money owed directly from your customers. Business Factors & Finance offers non-recourse financing by assuming 100% of the risk of non-payment—and full responsibility for collecting the unpaid invoices.
What is non-recourse factoring?
Non-recourse factoring is a type of risk-free business financing service that enables business owners to sell their outstanding invoices and receivables—in exchange for obtaining an advance up to 96% of the invoice value, with low rates and stress-free collection services.
Non-recourse financing from Business Factors & Finance helps your business in a wide range of ways, such as:
- Giving you the cash you’re owed, quickly and with no strings attached
- Eliminating costly and time-consuming collection efforts
- Removing all liability from your business if a customer doesn’t pay his invoice
- Treating your customers with complete professionalism at all times
- Saving you money over traditional bank loans, which charge you closing costs, origination fees, points as well as interest
Most factoring companies also offer recourse factoring (sometimes referred to as recourse financing). With recourse factoring, if the invoice isn’t paid, the factoring company can legally obtain the money from the business that has received the cash advance.
Getting the money you need to grow your business
Sometimes businesses are held back from growth—or fear risking the steps needed to grow—because they can’t count on reliable cash flow. If our company relies on numerous accounts receivables, you may be in a tough spot, particularly if you’re waiting 30, 60, 90 days or longer to collect what’s owed you by your customers.
Regardless of the industry you’re in—transportation, staffing, oil and gas, manufacturing or another industry—obtaining the funds you need is the fundamental bottom line to working with a steady, reliable cash flow.
Is it time to expand? Feel free to explore traditional bank financing, but understand a great amount of time and paperwork are involved—and you’re still not guaranteed you’ll receive the money you need. With recourse factoring, you get paid for your invoices in just 24 hours or less. When Business Factors & Finance buys your invoices, they take on 100% of the risk if your clients fail to make good on payment—thus preserving your business credit score and keeping your cash flow safe.
Be sure you have the working capital needed to with recourse factoring—a convenient, risk-free method to securing the capital you must have in order to keep your business afloat before, during, and after expansion.
Other ways non-recourse factoring helps your business
Keeps your credit score safe. With non-recourse factoring, the factoring company assumes 100% of the risk when your clients fail to make complete payment. This way, there’s no threat or punitive damage to your credit score. For example, if you factor more than $50,000 worth of invoices with a traditional factoring company (one that doesn’t offer non-recourse factoring), you’re responsible for paying this major amount back to the factoring company, which may significantly hurt your business.
With non-recourse factoring, the factoring company assumes responsibility for these unpaid charges—a huge benefit for your small business.
Offers free credit checks. The non-recourse factoring company doesn’t look into your credit score as part of the process—it examines the credit history of your clients. That’s because it is purchasing your invoices, and must be assured of the creditability of your clients and the likelihood they will make payment on their invoices.
Unlike other factoring companies which charge a fee for ever invoice—thus incurring a major expenditure on your part—Business Factors & Finance give you a free credit check. This ensures you receive financing without crippling your business budget.
Securing a reliable source of working capital. Businesses can’t grow without a strong source of working capital. With non-recourse factoring, you get cash for your outstanding invoices in just 24 hours or less—a far cry from having to wait up to 90 days for bank financing. The infusion of immediate cash into your business gives you the working capital you need to expand your business, hire more individuals, land a big project, etc
Choose the option that fits your business objectives
The vast majority of invoices purchased by Business Factors & Finance use non-recourse factoring, but at the same time our customers have a choice whether to use recourse factoring or non-recourse factoring. (When Business Factors buys invoices that aren’t originals and have already been mailed, the transaction becomes factoring with recourse.)
Visit our invoice factoring learning center to find out more about invoice factoring and how it can help your business.
Hear what industry leaders say about Business Factors & Finance
“In all my years of business, I’ve never dealt with a factoring company that has given me 110% until now. I’ve come to develop a close working relationship with Business Factors. Because of the constant and dependable cash flow that they’ve created for my company, I’ve been able to grow my business. I’ve never been happier with a factor.”
Julie W., Contractors & Staffing
“We have had very fast deposits with Business Factors. They receive our invoices in the morning, and by the afternoon, the funds are deposited.”
Barbara P., owner
Trucking, Freight & Transportation
“I urge anyone that has a need for a factoring company to not hesitate in using the professionals at Business Factors.”
J.P., Oil & Gas Industry
No long-term requirements on your part
With Business Factors, our standard factoring services require no minimum term contract. Once you determine you no longer need factoring receivable services, simply stop sending invoices with no penalty whatsoever. Some of our more advanced programs and non-standard products may require minimum term contracts, which generally are six months.
Get started today
- Call one of our business finance representatives today.
- Complete and return the application.
- We will review and respond quickly.