Factoring Financing - Florida
Are your clients paying their invoices in up to 70 days? Is this creating cash flow problems and affecting your ability to pay suppliers or other business expenses? If this is the case, invoice factoring may be the right solution for your company. It allows you to get an advance using your invoices as collateral. This provides you with the needed funds to cover business expenses and take on new sales.
We have offices in Miami / Fort Lauderdale / Boca Raton area and offer invoice factoring services to businesses located in the state of Florida (FL) and in every state of the USA. Additionally, we offer services in Canada.
Factoring rates as low as 1.5%. Advances as high as 85%.
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(subject to monthly volume and industry).
Please select the most appropriate product:
Factoring for small and medium sized businesses such as commercial suppliers, IT consultants, janitorial/cleaning companies that that provide business services
Factoring for trucking companies and freight brokers of all sizes in Florida
This product provides the necessary funds to pay your suppliers and deliver on your orders. Purchase order financing is ideal for resellers, distributors or businesses that need a letter of credit to pay suppliers.
Factoring for small and medium sized construction subcontractors.
Financing for companies that provide services and products to state and federal government agencies.
Financing for companies that provide security guards to commercial, industrial and government sites.
Financing for staffing and temporary employment in the business and medical services field.
Financing for small office/home office (SOHO), consultants, independent professionals or any business with less than $250,000 in revenues.
What is invoice factoring?
Factoring is a tool that allows companies to sell their invoices to a factoring company in exchange for immediate funds. This eliminates the usual 30 to 90 days wait to get paid, and provides you with immediate funds to pay employees, suppliers and rent. It enables growing businesses to leverage their strongest asset - their invoices form strong credit worthy clients.
It is very simple to use and works as follows:
- You deliver your product or service and invoice your client
- You send your invoices to the factoring company
- The factoring company advances you the first installment. The advance is between 70% to 90% of your invoice
- The finance 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 a great advantage over other business financing products, such as business loans. It is easy to qualify for and can be setup in days. Also, it has no set limits. Your receivable factoring line is based solely on the size your revenues and the quality of your invoices. This allows it to grow with your company.
If your company is growing and you canít afford to wait up to 60 days to get paid by your clients, then look at factoring companies may be the right solution for you.
We can offer services across the state of Florida and have local coverage in Miami-Dade, Broward and Palm Beach counties. Additionally, we are local to:
- Fort Lauderdale
- Boca Raton
Need more information about factoring?
Try reading these articles about factoring and business financing.
- What is factoring?
- How to select a factoring company
- Understanding purchase order financing
- Alternatives for companies that can't get a business loan
- How to finance a 3PL company with freight factoring
- Factoring application success strategies
Questions? Call (866) 730 1922. Toll free in Florida.