Many banks are growing more conservative in their lending which leads to business owners being turned down for a bank loan. Since your need for additional capital did not disappear when a loan request was denied, it's time to look at alternative lenders that will meet your needs. Accounts receivable factoring is the solution.
Does Your Business Fit Their Mold? There are many factoring companies. It is important to choose one that is not only top rated but also has experience in your industry. You will want to be prepared to share your corporate filings, financial statements, accounts receivable aging report and customer list with the factor of your choice. You will want to work with a traditional factoring company that focuses on your invoices and customers. Traditional accounts receivable factoring companies underwrite with the credit strength of your customers, not your company or personal credit. This approach gives you access to much higher credit limits than a bank line of credit tied to your personal credit score.
Find a Flexible Factoring Company Whether you’re in a growth mode and need long term account receivable factoring or just looking for help the next few months, you will want to work with a factoring company that lets you decide when and how much you factor. Find a factoring company that does not put a minimum or maximum amount to be factored in their contract. This will ultimately reduce your factoring expenses. For 17 years Partners Funding has provided the money and expertise needed for our clients to grow and succeed. Our online application is easy to fill out. Our flexible factoring program keeps you in charge of which invoices you decide to factor. Our competitive price and high advance rate put your company on the road to success! We have helped over 498 companies improve their cash flow with invoice factoring. It’s now your turn; call us today at 1-877-881-8214 or complete our quick quote form on our website.