Finding a good factor company will help resolve cash flow issues that are the results of slow paying accounts receivables. Most business owners that are selling business to business need to offer payment terms to customers. Offering payment terms of 30 days or longer can put a strain on your company since your not getting paid for 30 to 60 days and your day to day expenses don’t wait and just keep piling up. A factor company will provide immediate cash to your business and then they wait for the payments to arrive from your customers.
The typical profile for a business that uses a factoring company is early stage or rapidly growing. When you are trying to grow your company and expand sales waiting for cash to show up in the mail box can really hurt long term growth. When utilizing your factor company you can outsource the function of waiting for payments and utilize the power of quick cash. Most factor companies charge fee’s that range from 1% to 3% per month which is very similar to a quick pay discount that many companies offer if you pay invoices in the first 10 days.
At factoringfast.com we offer fast factor company services. Mast invoice factor companies take weeks to review and approve a business for factoring services. Our program has reduced this to just a few days. If you are looking for funding in just a few days you have found your factor company. We have streamlined the process so most of our clients are funded the week they make contact with us. We also do not need tax returns or financials for most needs under a million dollars so don’t worry about having to send mountains of paperwork to get approved and set up.
Getting set up with the best factor company that respects your time is a decision you will not regret.
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Our factor company benefits can be found below:
- – Offer terms of 30 to 60 days for payment while we pay you the same day we receive invoices
- – Same day funding with no additional fee’s
- – Free customer credit checks, let us look at credit for you before you sell to them
- – Upload invoices for funding to your factor company electronically online