Are you familiar with all the benefits of factoring services? If you’re using invoice factoring to improve your cash flow and expand your business, then you’re already on the track to success. However, do you know if your business is getting the most out of its factoring services company?
The new year is the perfect time to take stock and reassess all aspects of your business. Interstate Capital, a leader in the factoring industry, has defined three important expectations that you can have of your factoring company.
- Full disclosure of the information you need
Different factoring companies have different protocols. It’s important that you are aware of exactly what your factoring company is required to provide, in terms of your agreement, to understand your benefits. For instance, some factoring companies expect you to factor all of your invoices and others allow you to choose which invoices to factor. Your factoring company should be able to answer any questions that you have about the terms of your agreement; transparency is essential.
- Competitive rates
Invoice factoring rates vary among factoring companies, depending on the volume and value of your invoices. Is your business receiving the best possible factoring rate for which it qualifies? s known for offering superior service at reasonable rates, starting as low as 0.49%.
- Factoring Benefits
When reassessing your factoring company, take a look at the extra services that they offer and consider whether they are still relevant to your business. Also, make sure that you are making the most of these “perks.” For example, Interstate Capital offers valuable benefits, such as 24-hour automatic credit approvals, free electronic funds transfers, and funding in as little as two hours. Transportation clients also enjoy fuel advances and fuel discounts.
Interstate Capital’s reputation for excellence and its 22 years of experience with a wide variety of businesses have placed it at the forefront of the factoring industry.
To get a factoring rate quote, or to speak to one of our consultants, contact us today.