Many small to medium sized businesses rely on invoice factoring to improve their cash flow and grow their businesses. Factoring companies in California help these businesses by buying their outstanding invoices and paying them upfront for work they have completed. Factoring bridges the gap between finishing a job and getting paid for it. Factoring company clients are able to meet their day-to-day and monthly overhead costs without waiting 30, 60 or even 90 days for their customers to pay them.
How to qualify for Accounts Receivable in California
Unlike applying for traditional bank loans, you don’t need collateral or have to meet a long list of requirements to qualify for accounts receivable factoring. Potential factoring clients in California will be evaluated on the credit history of their customers, not their own credit history. Invoice factoring is not a loan, but rather an advance that speeds up your cash flow. You incur no debt and have no loan payments to repay when you partner with a good factoring company.
Find the best factoring company in California
Finding the best factoring company in California starts with research. Remember each state has different legal requirements, so make sure you’re partnering with a factoring company that has clients in California. Here are a few things to consider when researching factoring companies:
- Years in the industry: Factoring companies come and go. Make sure you’re not partnering with well established company with decades of experience through different business cycles.
- Added services and benefits: Some factoring companies specialize in certain industries, such as freight factoring. These companies will offer value-added services, such as free fuel discount cards for trucking companies, so find a factoring company that specializes in your industry.
- Ease of transaction: How easy is it to submit invoices and get paid? A factoring company with an online invoice management site for you will make it much easier for you to track payments.
Partner with a Californian invoicing factoring company
Put an end to your cash flow problems by partnering with Interstate Capital, a leading invoice factoring company with offices in San Diego and years of experience serving clients in California. Founded in 1993, Interstate Capital is is one of North America’s leading factoring companies. As one of the best-funded independent factoring firms in the country, Interstate Capital offers factoring services to a wide range of businesses in California including trucking and freight brokers, printers, food services, furniture manufacturers, staffing agencies, technology companies, wholesale distributors, machine shops, maintenance companies, oilfield services providers, import/export firms and security guard companies, among others.
Contact us today for more information about factoring agreements and rates.