Can you imagine having working capital without waiting for your customers to pay and without dealing with tough collection problems? A factoring company allows you to get your cash in advance and use it to fund the everyday operations of your business – and takes care of the collection process. Many businesses can’t deliver a product or service and then wait 30 to 60 days to receive funds from their clients. Here are three ways you can benefit by factoring your invoices with a reliable, trusted factoring company like Interstate Capital:
- You reduce the time you spend collecting money from clients: Remember when you started your business? You probably had no idea all the time you would spend invoicing and collecting money from clients. Instead of worrying and wasting time, effort and money on collecting what is owed to you, you can factor your invoices and move forward with your business. You can focus on making more money rather than wait for the cash to come in.
- You don’t need collateral: When you’re borrowing money from traditional funding institutions like banks, you need property or other collateral to qualify for a loan. With factoring, you don’t need collateral to receive your money, nor do you need a long track record of business success. Interstate Capital makes its factoring decisions based on the creditworthiness of your clients, not your credit or your collateral.
- You remain debt free: Factoring is different from a traditional loan. When you receive money for your invoices in advance of your customers’ payment dates, you are not accumulating debt.
Wondering if factoring is for you? Get an instant factoring rate quote now.