Many small businesses benefit from invoice factoring. As an alternative to bank financing, accounts receivable factoring is appropriate for businesses in many industries including healthcare, logistics, trucking, and technology. Washington factoring companies provide immediate cash flow for invoices and accounts receivable, as well as professional credit and collection services.
Invoice factoring benefits include
- Initial cash funding in 5 to 7 days.
- Improved cash flow without going into debt.
- Professional accounts receivable management.
- No waiting for approval.
Not only do invoice factoring services improve cash flow, it also reduces your overhead costs because you no longer need to pay in-house personnel for receivables management and collections.