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Receivables factoring in Chicago
Chicago, Illinois boasts a powerful economy with more than 400 major corporations headquartered here, including 36 companies in the Fortune 500. Chicago has a large, diversified economy in every sector from manufacturing to information technology to health services. With so much business activity, the city is a hotbed for startups and young businesses including web startups.
Chicago factoring companies enable small businesses to grow and thrive in one of the world’s largest diversified economies. They provide financial services to all major commercial industries, including manufacturing, distribution, transportation and service providers. Small businesses can succeed and thrive.
Receivables financing improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. You get the cash quicker so you can pay for supplies, payroll and other operating expenses.
Line of credit
Invoice factoring is similar to a bank line of credit with the exception of plunging into debt and incurring loan payments. You also get to enjoy the benefits of invoice factoring that banks don’t offer.
Approval in 5 to 10 days
Most factoring companies can approve your application within several business days. Often, you can get your first funding within 5 to 10 business days, making invoice factoring quick and easy.