More and more companies are turning to invoice factoring to finance growth and smooth out their cash flow. Factoring invoices use to be almost exclusive to the furniture and garment industries. It is now prevalent in manufacturing, healthcare staffing, oilfield services, IT staffing, service industries, fabrication, warehouse staffing, telecommunications, and security providers. Business owners benefit from knowing that they can turn their invoices into cash to make payroll and stay current on their operating expenses, even though they may have slow paying customers.
But not all factoring companies are alike. Some factoring companies, including bank owned factors, have become notorious for hidden fees, monthly minimum charges, and renewal fees. When searching for a factoring company to partner here are few questions to ask:
- Is there an application or signup fee?
- Does the factoring company have a monthly minimum fee?
- What other fees are there beside the discount fee?
- Do you have to factor all your invoices?
- Does the factoring company allow their clients to sell dated invoices?
American Receivable understands that the goal of the factoring relationship is for our client to make more money! To accomplish this goal, we offer industry leading rates. We have also carefully structured our flexible factoring program that allows our clients to maximize their cash flow while minimizing their costs.
Our factoring clients have enjoyed the benefits of having our professional provide crucial cash flow, and also helping to manage their accounts receivable. Our back office excels in providing fast, friendly service. Whether a client needs credit information on a new customer, the status of an outstanding invoice or assistance creating financial report, American Receivable understands that our client’s needs our always our priority.
Discover the difference at American Receivable. Our streamlined application allows prospects to get funded in only 2-3 days, and our flexible factoring program keeps you in charge of how much you factor. Call us today to find out for yourself why we are 5 Star Rated!
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