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Invoice Factoring Drives Business Cash Flow
Are You Waiting For Your Money When You Don’t Have To?
Use invoice factoring to provide your organization with almost immediate access to money your customers owe, without waiting 30, 60, 90 days – or even longer – for the invoices to be paid.
Instead of waiting for your customers to pay, you can factor an invoice with a factoring company for a small fee (called a factoring fee) and receive an immediate advance – as much as 95% of the invoice amount.
Why Businesses Need Factoring
Though the need for expedited or more consistent cash flow is the reason most companies decide to factor invoices, some of the other common reasons cited by our clients include:
- Need for working capital to fuel business growth
- Working capital can be leveraged for better terms with suppliers
- Customer accounts with generous terms, often 30-90 days
- Need working capital to take on larger accounts or big orders
- Slow-paying customers
- Better ability to meet operating expenses and payroll
- Capital expenditures like equipment purchases, repairs, renovation, or expansion
Many Options To Choose From
Invoice factoring, a centuries-old financing tool, plays an important role for businesses needing access to the money owed to them. Instead of waiting, companies of any size that provide goods or services to other businesses, government agencies, or other organizations can factor invoices to improve cash flow and unlock working capital.
Explore several types of invoice factoring, including non-recourse factoring, factoring with recourse, and spot factoring. Scroll down to read more about the different types of invoice factoring that speed up business cash flow in your organization.