Many businesses have cash flow problems and find it difficult to wait for 30, 60, or 90 days or longer for their customers to pay them for goods sold and delivered or services rendered. Many, if not most, small and medium-sized businesses (up to $10mln annual sales) have trouble securing, or cannot get at all, traditional bank financing.
Factoring provides additional working capital. The company is selling its receivables, which is an asset, and not borrowing against them, so they are not creating debt. Factoring is a type of revolving credit, in that short-term funds, are usually paid within 90 days. We can arrange working capital that you need to continue fast, so you can make payroll, pay your utilities, and purchase more supplies.
Factoring, also known as cash for receivables, is the conversion of business accounts receivables into immediate cash by the outright purchase of invoices at a discount by a factor.
Please, call today at (800) 206-2707.