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Receivables factoring in Minnesota
Minnesota’s top industries are bio-science, manufacturing and wind. Minnesota’s top manufactured exports are computers and electronics, followed by machinery and transportation equipment. Small businesses rely on Minneapolis factoring companies to get the cash needed for stability and growth.
Whether you’re an established business or a start-up, Minnesota factoring companies can turn your invoices into immediate cash to meet payroll and other expenses. You don’t have to wait 30 to 90 days to collect your receivables.
Rather than sinking into debt and making loan payments, invoice factoring is similar to a bank line of credit. You also get to enjoy the many benefits of receivables factoring that banks don’t offer.
Quick and Easy
Factoring companies can approve your factoring application within several business days. Often, you can get your first funding within 5 to 10 days, making invoice factoring a quick and easy process. Working with a factoring company gives your small business a constant stream of cash flow. You get cash flow, receivables management, credit services and a business partner to help you succeed.