Invoice Factoring
Turn Your Unpaid Invoices into Cash
Unlike traditional financing, your eligibility is not based on your credit score, collateral, or time in business. The application process is simple and straightforward and qualification is based on the creditworthiness of your customer, not your business.
HOW DOES IT WORK?
- Easy Application Process
- No Collateral Required
- Receive 80-90% of Your Invoice Amount Upfront
WHAT YOU NEED TO KNOW
Invoice factoring is a type of accounts receivable financing where a company sells their unpaid invoices in return for an immediate cash advance.
OUR 5 SIMPLE STEPS
- Submit invoices for review
- The invoices are verified
- You receive 80-90% of your invoice amount
- The outstanding invoices are collected
- You receive the remaining invoice balance minus a small fee.
WHAT DOES IT COST?
Typically, your company will be advanced between 80-90% of the total invoice upfront. The remaining percentage is paid minus a small fee once the total invoice is paid in full. The fee depends on the size of the invoice, number of invoices you are factoring, and the credit strength of your customer’s accounts receivable.
When To Apply?
WHEN WOULD IT MAKE SENSE?
Invoice factoring is an ideal solution for businesses who have longer payment terms or often have cash tied up in outstanding invoices from clients. It is common in many industries such as construction, manufacturing, trucking, healthcare, and wholesale.