Factoring, also known as invoice financing or accounts receivable financing, is a simple and easy way to turn receivables into accessible cash to meet immediate needs, such as securing working capital to meet expenses, covering payroll or expanding sales. Instead of having to wait 15, 60 or even 90 days to get paid, factoring allows you to get paid today, immediately improving cash flow.
The generous terms requested by your customers mean that invoices can be outstanding for 15 to 90 days before you receive payment. This delay in receiving payment results in you either missing out on opportunities to expand your business or falling behind on important expenses, like payroll. Fortunately, much of this frustration can be reduced or eliminated with factoring