Interstate Capital provides a variety of factoring programs to meet the cash flow needs of business owners in each of the industries that typically use factoring services. Whether you work in trucking, staffing, manufacturing, distribution, government contracting, or many other fields, we have factoring professionals who know your industry and understand your business model. They can design a factoring program to suit your company today – and tomorrow.
Here’s a look at factoring programs for a few of the industries served by Interstate Capital:
Interstate’s transportation factoring experts tailor programs for motor carriers and freight brokers based in part on your company’s number of trucks, types of clients, and business situation.
- All our transportation programs provide you free same-day funding; a free fuel discount card, saving up to 14 cents a gallon on diesel fuel at the pump; free credit checks on your potential customers with either our in-house credit bureau during working hours or on our affiliate, FreeFreightSearch.com, 24/7.
- Small or new companies often consider Interstate’s White Glove Service, which becomes your own back office while you are out driving and working. Interstate receives and stores your bills of lading and all paperwork, pays you the day you deliver, prepares and mails your invoices, and collects from your customers.
- The Flat Rate Program provides a full advance on your invoices, minus a factoring fee which can range from 1% to 5%. Regardless of how many days your client takes to pay you, whether it is two weeks or two months, the invoice discount rate that you pay is the same. You receive the full advance as soon as your delivery is completed.
- The Tiered Rate Program advances you 90% to 95% of the value of your invoice upon delivery, with the balance remaining in a reserve account until your clients pay your bill. The final percentage rate on your factoring fee varies depending on how long the clients take to pay. For instance, if the rate was 1% every ten days, and the client paid in 30 days, the factoring fee would be 3%. Your reserve can be deposited to your account immediately or held for you as a savings account.
Interstate Capital factoring professionals have worked with owners of staffing firms for more than two decades and have seen the dramatic increase in the numbers and types of temporary staffing companies over recent years in the face of our nation’s changing economy.
- Flexibility is the rule for factoring programs designed for the staffing industry. Interstate staffing experts first discuss a company’s financial needs, customers, and those customers’ payment histories and creditworthiness.
- Interstate’s factoring programs for staffing companies include advances in the 90% to 95% range and very reasonable factoring rates – among the most competitive in the factoring industry.
- Interstate’s programs are designed for your convenience and ease. For instance, if your staffing company uses a payroll provider, Interstate can send the payments on your invoices directly to that payroll provider.
- In working with staffing companies, our goal is your goal: ensure that your employees are paid on time, every time.
Manufacturing or Distribution Companies
Programs designed for manufacturers and distributors are similar. Interstate Capital works with owners of both small and large manufacturers of a wide variety of products from consumer goods, food items, automotive parts, and more. Wholesalers and distributors face similar financial challenges as manufacturers: paying suppliers on time while waiting for customers to pay their bills.
- Interstate factoring specialists know that these types of business need flexibility. You know your customers best: you decide which invoices to factor and how frequently.
- With our prompt advances ranging from 80% to 90%, our factoring programs can strengthen your credit rating. In addition, when you have the funds upfront to pay suppliers on time, you can negotiate more favorable terms or discounts. This leverage can save you money in the long run.
- Interstate can provide “supplier guarantee” letters which guarantee that once the products are delivered and invoiced, Interstate will pay that supplier directly. This service is particularly helpful to new manufacturers and distributors who do not have extensive experience with their suppliers.
- The infusion of cash can help you grow your business, increase your inventory, and branch out to new product lines.
For more than two decades, Interstate Capital’s upper management and account managers have worked with business OWNERS who complete work for different branches of the government, be it local, state, or federal.
- As a government contractor, you need to work with a financial services company that has experience with government entities. Interstate’s factoring specialists have that kind of experience and can develop a factoring program that will fit the kind of work you are completing for the government.
- Because government approvals and payment channels can be complicated, look for a factoring company like Interstate with people who know the process and already have the proper forms in place to expedite payment to government vendors at all levels.
Interested in learning more about our factoring programs?
Please call (800) 422-0766 or click now to get a free instant online factoring rate quote to find out how we can help improve the cash flow for your business.