Factoring is the sale of accounts receivable (invoices), at a discount, for immediate cash. For example, instead of waiting 30 days or more for your customer to pay the $1,000 you invoiced recently---you could elect to sell the proceeds of that invoice to us---for approximately $970.
If your business primarily sells to larger companies or the government, factoring is easy to qualify for. Once your business qualifies, factoring becomes a reliable way for you to quickly raise cash.
Factoring is the only form of business financing that can increase in lockstep with your invoiced sales. It creates an expandable line of credit that grows in proportion to your sales. Unlike conventional credit, there is no inherent limit to how much a factoring line of credit can grow.
No other form of business financing can offer you more cash to work with for a given amount of invoiced sales. Factoring advances can readily cover the cost of any increase in your sales.
If you have any questions about factoring or wonder if your business qualifies, call 541-484-7044.