Factoring

Get paid quick!

Sometimes it can take up to three months to get paid. That’s when you should consider working with a factoring company.You may be thinking, “What is factoring and how can it beneficial for my business.” You simply sell your accounts receivable (invoices), minus a small discount, to an invoice factoring company. After checking out the credit worthiness of your invoiced customer, factoring companies advance up to 100 percent of the invoice, providing immediate cash flow for you and your business needs. In recourse with a factoring a factoring agreement, you’re likely to see 100 percent advanced. A transportation company with a non-recourse factoring agreement would likely see a 90% to 97% advanced and a business factoring agreement would see up to a 95% advanced. Also when your customer pays the invoice, the factoring remits the balance, minus a fee, to your business. So instead of waiting 30 to 120 days or longer, you can get your invoice funded within 24-48 hours. If you don’t have factoring set up, contact us and we will answer all your questions and get you set up.