Invoice Factoring
Turn your outstanding invoices into the money you need in a few easy steps.
Features & Benefits
Cash Flow Without Debt
Since invoice factoring is cash provided to you based on outstanding invoices, it is not a loan and will not add liabilities to your balance sheet. With invoice factoring you don’t have to wait 30- 90 days to get payment for services/goods delivered and you don’t have a monthly loan payment.
Quick Access to Cash
The total time it takes to access financing through invoice factoring is typically anywhere between 1-2 weeks. The easy application and underwriting processes will range between 5-10 days and once your invoices are approved, funds are usually provided with 24-48 hours.
Flexible Terms & Reasonable Rates
Owners are free to choose which invoices they would like to factor and the frequency at which they would like to factor an invoice – there are no long-term contracts required. Factoring rates have seen a dramatic decrease over the past few years, with fees as low as 1.5%.
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Purchase Order Financing
Purchase Order Financing is designed to provide businesses with the cash they need to fulfill a customer order. With this option, the financed amount goes directly to your supplier to cover the manufacturing and delivery of goods to your customer. The larger the transaction amount, the lower your rates will typically be. You will have a starting rate that is determined during the underwriting process, and after the first month the rate will increase.
Purchase Order Financing
Business Loan
Available for both short- and long-term needs. Our business loans provide, you with an agreed upon sum of money that you will pay back over a specified amount of time, with interest. The amount of interest paid and the total overall cost will be depend on whether you opt for a short-time loan, which typically has a higher interest rate but a lower overall cost or a long-term loan, which tends to have a lower interest rate but a higher overall cost.
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Revenue Based Financing
Revenue Based Financing is an up-front sum of cash that is based on a business’s future sales. Though not technically a loan, this is a great option for businesses that need access to cash quickly. Because this is not a loan, there is no APR or compounded interest associated with this product. Instead, borrowers agree to pay a fixed percentage in addition to the amount provided.
Revenue Based Financing
Apply now to be considered for all options
Apply NowReady to Apply?
If invoice factoring seems like the right fit for you, let’s get you ready to apply. To begin the application, you will need to be able to provide an accounts receivable/payable aging report, articles of incorporation or partnership agreement, personal or corporate tax return and personal or corporate financial statement. Also, be sure to check the credit of your commercial clients. Invoice factoring does not pull your credit, but your commercial clients’ credit must be in good standing. Additional documentation will likely be required as you move through the underwriting process. If you’re still not sure that invoice factoring is right for you, you can use our financing matching tool or give us a call at (800) 780-7133 to speak with one of our financing specialists.
