What to expect from a factoring company

When company owners need working capital, they have choices. However, some financing options, such as merchant cash advances that deduct payments from your credit cards, can quickly become very costly and endanger the financial future of your business. Other choices, such as traditional bank loans, can be time-consuming, restrictive, and limited to applicants with significant collateral and strong credit scores.

That’s why invoice factoring has become an increasingly popular choice for small and medium-sized businesses and startups. When you need working capital right away, but don’t want to max out your credit cards or take on additional debt, it’s time to explore the benefits of accounts receivable factoring. You can resolve your cash flow problems quickly and easily by factoring your outstanding invoices.

You also have choices in factoring companies and factoring programs. Here’s a checklist of what you can expect when you factor with a leading factoring company:

  • Fast payment on submitted and verified invoices, typically same-day payment
  • Fast and easy approval and onboarding process
  • Acceptance into factoring program based on your customers’ credit histories, not yours
  • Free ACH direct deposits, free checks mailed, and one free wire transfer every week
  • Membership in International Factoring Association, indicating adherence to code of ethics
  • Dedicated account manager for single point of contact for customer service
  • Easy-to-use 24/7 online program for real-time bookkeeping and tracking invoices
  • In-house professional and experienced collections staff
  • In-house credit department for free credit checks on potential customers
  • In-house processing and electronic storage of all invoices and other paperwork
  • Value-added industry-specific benefits, such as fuel and tire discounts for truckers
  • Long company history, showing stability and experience
  • Long list of clients, showing strength of reputation and track record of success
  • Company-wide commitment to helping clients succeed now and into the future

When you’re looking for a company that can offer all these benefits, and more, contact Interstate Capital, one of North America’s top invoice since 1993. See why thousands of business owners across many industries have turned to Interstate Capital for prompt payment and friendly customer service.  Click here for a free cash flow assessment and consultation.