Connecticut - Invoice Factoring and PO Financing
Are your commercial or government customers taking up to 70 days to pay your invoices? Is this creating a cash flow problem? We can help you. We offer invoice factoring, which allows you to turn your receivables into cash though a very simple financial transaction. We offer services in the state of Connecticut and can provide you with competitively priced financing.
Factoring rates as low as 1.5%. Advances as high as 85%
Get an online factoring quote!
Questions? (866) 7301922. Toll free in Connecticut.
Funding for small and medium sized companies in the service, wholesale, oilfield services, janitorial, and manufacturing sectors that are located in Connecticut.
Financing for transportation carriers and freight brokerages.
This product provides the necessary funds to pay your suppliers and deliver on your orders. Purchase order financing is ideal for resellers, distributors or companies that need a letter of credit to pay suppliers
Financing for subcontractors of every type in the building trade.
Financing for businesses that supply services and products to Connecticut state agencies and to the federal government.
Financing for companies that provide guards for commercial, industrial and government sites.
Financing for staffing employment in the business and medical fields.
Financing for small office/home office (SOHO), consultants and independent professionals
Specialized program for healthcare practitioners and medical providers that bill private insurance companies, Medicare and Medicaid.
What is Accounts Receivable Factoring?
Factoring invoices is a tool that allows companies to sell their invoices to a finance company in exchange for a quick payment. Instead of waiting up to 90 days to get paid, the finance company advances funds to your business. You can use these funds to pay employees, suppliers and rent. Our solution allows you to leverage your strongest asset - their invoices form strong credit worthy clients.
It works as follows:
- You deliver your product/service and invoice your client
- You sell your invoices to the factoring company
- The finance company advances you the first installment. called the advance). The installment is between 70% to 90% of your invoice (varies by industry).
- The factoring company gets paid by your client 30 to 90 days later
- The factoring company rebates you the second installment (the 10% to 30% reserve), less a small fee.
Accounts receivable factoring has an important advantage over other business financing products, such as business loans. First, it's easy to qualify for and can be setup in days. More importantly, it has no set limits. Your receivable factoring line is based solely on your invoices and can grow with your revenues.
lf your company is growing and you canít afford to wait up to 60 days to get paid by your clients, then receivables factoring is the right solution for you.
Try reading these articles about factoring and business financing.
- What is factoring?
- How to select a factoring company
- Can purchase order financing coexist with other forms of financing?
- Benefits of factoring receivables
- Running low on fuel? Try freight bill factoring
- Financing slow paying customers
Questions? Call (866) 730 1922. Toll free in Connecticut.