Intangible assets are real, they just aren’t physical in nature. The best business invoice factoring companies are set apart by the added value their intangibles provide.
Apart from factoring rates and advance amounts, what factoring companies do — the services they provide — are basically the same from Factor to Factor. We offer competitive factoring rates and high advances with fast funding, yet we believe it’s the things you don’t see — the intangible qualities which characterize our services — that help our clients the most.
Investopedia describes intangible assets as items which don’t exist in the physical sense, yet “are valuable because they represent potential revenue.” When comparing business invoice factoring companies’ rates and fees, it’s important to remember that the value they add in the way they do business and how they treat their clients could impact your bottom line, too.
7 Intangible Characteristics the Best Business Invoice Factoring Companies Provide
The goal of business invoice factoring is to speed up cash flow. When you factor with a company that provides fast approvals and fast funding, you can stay focused on your business instead of chasing customer payments or waiting on cash flow.
We know that the faster the factoring company’s team works, the more they can help you grow your business. Factoring with a company that provides a consistent, high level of customer service saves your company time and money.
2. Cost Savings
Some business invoice factoring companies advertise low factoring rates, then charge add-on fees or apply fees progressively in order to increase revenue. Unfortunately, these additional fees reduce your profits.
Our goal is to help you grow your company to the next level, so we avoid hidden invoice factoring costs that reduce your profits, from the application process to schedule processing. We offer factoring programs with:
- Program transparency – no hidden fees
- No application or due diligence fees
- No charge for processing factoring schedules or notifying you that the work has been done or your account has been funded
In addition, we work with you to tailor a factoring program so that it’s well-suited to your company’s financial needs; with:
- Competitive factoring rates – and ask about bundle discounts!
- Competitive advances to help you unlock working capital
- Fast, free funding
Some business invoice factoring companies lock you into contracts for the long term with penalties and lengthy auto-renewal clauses. We believe that the best invoice factoring companies choose to earn your trust, long term business and referrals through their performance.
We don’t require factoring clients to sign long term contracts, nor do we have factoring minimums. As the client, you stay in control so that you can always do what you think is best for your business.
4. Partnership Mentality
We want to help you grow by empowering you to take control of your cash flow, so you can take your company to the next level. From the way our factoring services let you stay in control to fast approvals and dedicated account managers who understand your needs and preferences, we want you to have tools your business needs to become more profitable and grow.
5. A “Yes” Culture
Every business is more than a credit score or an asset list. From evaluating your application for business invoice factoring services or a potential new customer, credit limit or rate request, we look for reasons to say “yes!” and say yes quickly.
6. Added Value
We will work with you to tailor a factoring program that aligns with the unique needs of your business, instead of forcing you into a one-size-fits-all service. The best invoice factoring companies add value whenever possible, giving you added value in the form of:
- Dedicated account managers
- Ability to serve any-size organizations, including independent contractors and SMBs
- Manual credit review when higher approval amounts are needed
- Credit reporting to help you vet new customers
- A growing library of articles and tools on our blog to help with business growth, many specific to your industry
- Partnerships with other alternative financing companies to make sure you find the financing tool that is most appropriate for your business
Corsa Finance is unique in being able to offer multiple types of factoring under one roof, including:
- Non-notification factoring with a white-labeled factoring program that provides your clients with a seamless customer experience
- Full recourse factoring
- Non-recourse factoring that offers additional business protection by limiting your credit risk from bad debt
- Spot factoring for a company that wants a one-time or only very occasional factoring solution
- Micro-factoring for small companies and independent operators that other factoring companies might not consider
If you’re ready to work with one of the best invoice factoring companies in the U.S., we would love to partner with you and help you grow your business. Apply online or request a free, no-risk factoring proposal by calling 866-855-6772 or completing the form below.