Invoice factoring in Mississippi
Does your company have cash flow issues because customers take up to 8 weeks to pay their invoices? This is a very common situation that affects many companies. The usual way to address this problem is to use business funding to cover company expenses while waiting for customer payments. One financing solution that has been gaining popularity in recent years is factoring invoices. We offer factoring financing in Mississippi 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 Mississippi.
Financing for businesses in the service, wholesale, oilfield services, janitorial, and manufacturing sectors that are located in Mississippi.
Financing product for trucking companies and freight brokerages.
This product provides the necessary funds to pay your suppliers and deliver on your orders.
Financing for subcontractors in the construction industry.
Funding for businesses that supply services and products to Mississippi state agencies and to the federal government.
Funding for companies that provide guards for commercial, industrial and government sites.
Funding solution for staffing and employment services 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.
How does factoring work?
Factoring financing is a solution that enables companies to sell their receivables to a factoring company in exchange for an immediate payment. Instead of waiting to get paid by your customers, you get an advance from the finance company that can be used to cover critical expenditures such as suppliers and rent. It enables growing businesses to leverage their strongest collateral - their invoices form 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
Receivables funding has many benefits over other business financing solutions, such as a business loan. It is easy to qualify for and can be setup comparatively quickly. Also, many factoring companies do not give set limits on their funding lines. The size of your funding facility is based on the amount and quality of your receivables (and customers). As opposed to other solutions, it can adapt to growing revenues easily. This makes it an ideal option for growing companies.
Questions? Call (866) 730 1922. Toll free in Mississippi.