Invoice Factoring - Maryland
Does your company have cash flow problems because customers take up to 70 days to pay an invoice? This situation is common and affects small and growing companies that are not well capitalized. The common way to solve this problem is to use business financing to cover expenses while waiting for payment. One product that has been gaining popularity as a solution to this problem is invoice factoring. We offer factoring financing in Maryland and can provide competitively priced solutions.
Factoring rates as low as 1.5%. Advances as high as 85%
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Questions? (866) 7301922. Toll free in Maryland.
Financing for companies in the service, wholesale, oilfield services, janitorial, and manufacturing sectors that are located in Maryland.
Funding for trucking carriers and freight brokerages.
This product provides the necessary funds to pay your suppliers and deliver on your orders.
Financing for small and medium sized trade companies that sell goods and services to customers outside the US and Canada.
Financing for subcontractors in the construction industry.
Funding for businesses that supply services and products to Maryland state agencies and to the federal government.
Funding for companies that provide guards for commercial, industrial and government sites.
Funding for staffing employment in the business and medical fields.
Factoring for new businesses, small office/home office (SOHO), consultants, independent professionals or any business with less than $250,000 in revenues.
Specialized program for healthcare practitioners and medical providers that bill private insurance companies, Medicare and Medicaid.
What is invoice factoring?
Factoring financing is a tool that allows companies to sell their invoices to a factoring company in exchange for immediate funds. Instead of waiting up to 8 weeks for payment, the factoring company provides an advance on your invoices. This gives you the funds you need to cover expenses and to take new customers. Invoice factoring enables growing businesses to capitalize on their strongest asset - their invoices form strong credit worthy clients.
The plan is simple to use and integrates well into most businesses:
- You deliver your product or service
- You create an invoice and sent it to the factoring company and to your client
- You get an immediate advance of 70% to 90% of your invoice
- The factoring company gets paid by your client 30 to 90 days later
- You get a second installment (the remaining 10% to 30%), less a small fee
Factoring companies offer a number of benefits over other business funding solutions. It is easy to qualify for and can be setup quickly. Perhaps more importantly, the line is flexible and usually has not set limits. The size of your line is determined by the size of your invoices and their credit quality. This allows it to adapt to your company's growth.
If your company is growing and canít afford to wait up to 8 weeks to get paid by customers, you should consider receivables factoring as a solution.
Looking for information?
Are you researching factoring or PO financing? These articles may help:
- What is factoring?
- How to select a factoring company
- Benefits of purchase order financing
- How to use factoring to grow your business
- Factoring financing for consulting companies
Questions? Call (866) 730 1922. Toll free in Maryland.