What is factoring?
No. Unlike many traditional funding sources that require extensive credit histories and collateral to be approved for funding, factoring is mainly concerned with the quality of your invoices. Since the quality of a company’s invoices is entirely separate from the age of the company, new companies with strong customers can qualify for factoring services without difficulty. This means that not only can businesses with unestablished credit get approved for factoring, but even businesses with poor credit.
When a client chooses to utilize our factoring service, they are able to take those invoices that have extended payment terms and receive payments for them in one business day instead! As an additional service for our factoring clients, we will handle their back office billing and collections as well. All of this allows our clients to quickly improve their cash flow and invest in their business’ growth.