Here are the common rates and fees you expect a factor to charge. A line of credit is an ongoing source of capital you can draw from when needed. The onus is on the factor to collect the receivable and get paid.Īnd unlike a line of credit, it’s a one-time infusion of cash, directly related to invoices you agree to finance. How it differs from other financing optionsįactoring is not considered a small business loan, because there isn’t anything to pay back. And once Greg pays his invoice, the factor will have their money as well. The factoring company gives you $2,000, minus a few percent to cover their rates. ![]() Problem is, you need cash ASAP to buy a new leaf blower. You’ve just sent your client Greg an invoice for $2,000, payable in 60 days. Let’s say you run a landscaping business. Sometimes factoring companies will check out the creditworthiness of your clients, too-they want to make sure they’re not dealing with people who won’t pay their invoices. Generally, it takes two to seven days to qualify for invoice factoring, and another one to two days to receive payment from the factor. We can find you the most competitive rates in the industry (contact us and see if we can beat your current deal).Īn exclusive network of credible factoring firms.įlexible services and no long-term contracts.Įxtensive experience in a wide range of industries.To factor an invoice, it must have a term of 30 to 90 days. We can get you funded within 24 hours We work fast to instantly match you with a factoring company that meets your requirements. Because of our strong network of business factoring companies and experience in funding a wide range of industries, we can quickly match your client to a factoring company that can help. Need funding for a client? If you are struggling to obtain funding for a client, Factor Finders can help. Unable to get a bank loan? Credit lines cut or reduced? Factor Finders can get you funding! If you have grown out of your working capital, have slow paying customers, or if you are experiencing a seasonal dip in sales, invoice factoring could very well be the solution for your business. ![]() Count on us to give your business the muscle it needs to get back on track. We understand that every business experience cash flow challenges from time to time. Our relationships with these partners allow us to better serve you and get you the cash that you need fast, on the terms you want. ![]() We listen to the business’s unique needs and match the business with a funding partner that meets their criteria.įactor Finders has access to over $3 billion worth of funding from several reputable, solid, and credible partnering companies. Factor Finders helps small businesses get the funding they need through factoring companies. It doesn’t matter if you’re just starting up, or if you’ve been in operation for 20+ years we know how to get your business funded. Our mission is to help business owners secure the cash necessary to grow. We decided to monetize these misdirected leads by referring them to funders who could offer a financial solution. We were getting so many misdirects that we saw it as an opportunity to help. Founded in 2011, Factor Finders began when our sister company, PRN Funding (a niche healthcare services factoring company), was receiving tons of misdirected leads that weren’t fit for that specific industry.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |