Summit Financial Resources

Summit Financial Resources is a Salt Lake City factoring company that provides invoice financing to small and medium-sized businesses in a broad range of industries. We provide cash flow solutions to companies requiring a financing structure that cannot be provided by banks or other commercial finance sources. We understand the challenges of operating a business in today's competitive environment, and our ability to be a responsive, flexible financial partner separates us from our competition.

Invoice Factoring can improve your cash flow significantly similar to a bank line of credit, yet without having to take on debt. The receivables factoring process is very simple. We give you a line of credit using your outstanding invoices as collateral. We advance you the funds up front so you don't have to wait to collect your receivables. Your advance is paid as your customers pay those invoices.

Summit Financial provides these invoice factoring benefits:

  • Credit lines from $100,000 to $4 million
  • No application fees for accounts under $250,000
  • Advance rates up to 90%
  • Not required to factor all your invoices

We welcome the opportunity to work with you. We believe our unique, experienced approach to our business, combined with our financial strength, makes Summit Financial Resources a superior source of financing. Our success is proven by the long-term relationships we build with our clients, which in turn allow them to be successful.

Industries Served:

Featured Services:

24 Hour Funding:
Yes
Collection Services:
Yes
Credit Services:
Yes
Digital Invoice Processing:
Yes
Online Reporting:
Yes
Non-recourse Factoring:
No

Terms of Service:

Application and Start-up Fees:
No start up fee for lines < $250,000. Due Diligence Fee varies for larger deals depending on need for appraisals, audits, etc. $500 and up.
Contract Length:
0 - 18 Months
Cancellation Fee:
No cancellation fee after first 12 months. No cancellation fee if qualified bank financing is acquired. Otherwise, $5,000.
Monthly Minimum:
Yes
Factor All Invoices:
No
Reserve Availability:
Immediately
Additional Fees:
Wire Fee - $20
Josh Tibbs of Summit FR
Josh Tibbs
Business Development
801-474-9006

General Information:

Year Founded:
1996
No. Employees:
51+
Address:
2455 East Parleys Way, Salt Lake City, UT
Other Office Locations:
Los Angeles, CA; Denver, CO; Phoenix, AZ; St. Louis, MO; Minneapolis, MN; Hartford, CT; Raleigh, NC

Financial Information:

Minimum Credit Facility ($):
100,000
Maximum Credit Facility ($):
4,000,000
Advance Rate (%):
90%
2455 East Parleys Way, Salt Lake City, UT