Bank financing is very difficult to obtain for small businesses. Established businesses qualify for bank lending if the business has strong cash flow and a good credit rating. However, small businesses usually can't qualify for traditional bank financing. That's where an invoice factoring company can help.
Many of Colorado's top industries utilize the services of a Colorado factoring company.
- Trucking and freight
- Professional services
- Mining, logging and construction
Because Colorado is located between the eastern and western portions of the country, it's a major warehousing and distribution center. When you find the right Colorado factoring company for your business, you get the benefits of invoice factoring:
- Quick and easy approval, often within 1 or 2 days.
- Initial cash funding within 5 to 10 business days.
- No hassle with debt or loan repayments.
- Accounts receivable collections and management.
One of the most attractive features of factoring is that your business doesn't need 2 to 3 years of financial history. Factoring companies focus more on your customers' credit than your own. Start-up businesses with no credit history are just as capable of using Colorado factoring companies as established businesses.