Businesses utilize invoice factoring because it accelerates your cash flow. Factoring companies advance you money based on the ability of your customers or clients to pay. If you have invoices or uncollected accounts receivable and need cash, factoring is a great solution.
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.
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.
A factoring company will help your small business improve its cash flow. You’ll get cash flow, receivables management, credit services and a business partner to help you through the tough times.
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.
FactoringClub has the most comprehensive and up-to-date information on factoring companies in the U.S. and Canada. We can help you find the right factoring company for your needs.
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