Factoring Invoices Helps Businesses Grow
(For immediate release) Miami, Florida – Factoring invoices can help business owners who cannot afford to wait up to 60 days to get their invoices paid. It allows you to get paid in as little as 1 day after invoicing, providing you with the necessary funds to pay employees and suppliers. Business receivable factoring is a great tool for business owners who can’t get – or don’t want to get - traditional business financing, such as a business loan.
Factoring invoices is very simple. You send your invoices to the factoring company, who buys them, and pays you in two installments. For the first installment, they pay you up to 85% of the invoice. The remaining 15%, the second installment, is paid once the invoice is paid by the client, less a small factoring fees.
“The best factoring companies are those that combine flexibly at a competitive price,” said Marco Terry, president of Invoice Factoring Group. “Invoice Factoring Group's programs can offer flexible business financing at a very competitive factoring rates.” He later added.
Receivables factoring has a number of industry subspecialties. There is freight bill factoring for the trucking industry, medical factoring for the healthcare industry and construction factoring for the construction industry. They all accomplish the same goal, though they have some minor differences.
One of the big advantages of factoring financing is that it is easy to obtain and can be set up in less than a week