Invoice factoring can help your cash flow by eliminating your receivables days outstanding. All Florida small businesses experience periods of slow or limited cash flow. Invoice factoring allows you to sell your invoices to a factoring company. You get paid immediately for the work you performed or the goods you sold.
Factoring companies serve Florida in a variety of industries:
- International trade
- Manufacturing and distribution
- Textile and apparel
- Trucking and freight
- And many more...
Florida factoring companies offer factoring services to startups, small businesses, and growing companies. It's easier to qualify for accounts receivable financing than it is to get a traditional bank loan. Factoring companies rely on the creditworthiness of your customers, not your own credit. New businesses with poor credit can't get bank financing but can easily qualify for invoice factoring.
Businesses of all sizes and industries across Florida utilize accounts receivable factoring, because invoice factoring accelerates cash flow. The factoring company advances you money on your invoices and accounts receivable based on the credit-worthiness of your customers. In addition to cash flow benefits, factoring companies also provide credit and collection services which can save you stress, time and money.