Invoice Factoring Financing - North Dakota
Canít afford to wait up to 90 days to get paid by your clients? This is a common problem for small and growing companies. We can help you by financing your invoices. Invoice factoring allows you to turn your invoices into cash though a very simple financial transaction. We offer invoice factoring services in North Dakota and can provide you with the financing that your business needs.
Factoring allows companies to sell their accounts receivable to a finance company in exchange for a quick cash advance. Instead of waiting up to 60 days to get paid by a customer, you get the advance which allows you to pay your company expenses in time. By financing your accounts receivable quickly, your business improves its cash position, allowing it to take on new customers.
Factoring rates as low as 1.5%. Advances as high as 85%
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Questions? Call (866) 7301922. Toll free in North Dakota.
Please select the most appropriate product:
Financing for transportation companies and intermediaries.
Financing for product resellers and importers. Covers the cost of paying suppliers by letter of credit.
Funding 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 North Dakota state agencies and to the federal government.
Funding for companies that provide guards for commercial, industrial and government sites.
Financing solution for staffing and employment companies in the business and medical fields.
Factoring for new businesses, small office/home office (SOHO), 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 the receivables factoring program work?
Our receivables financing program can be implemented relatively quickly. Most transactions are structured as a two-installment funding and usually look like this:
- You deliver your product or service to your client
- You generate an invoice and sent it to your client
- You send a copy of the invoice to the factoring company
- You get an immediate funding 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 funding fee
One advantage of working with a factoring company is that they are used to financing small companies that don't meet conventional banking collateral standards. Actually, it's common for companies to use accounts receivable factoring as a stepping stone to get conventional financing later on.
The financing lines are easy to obtain for and can be funded quickly - which is critical in the current market environment. One key feature of the plan is that the line can grow with your sales, providing the cash at hand you need to meet expenses. This is a very important feature because it supports your plans for growth and is seldom found on other financing solutions, like a business loan. If your company has cash flow problems due to slow paying customers - we can help.
Are you looking to learn more about our financing solutions? Here are some additional resources:
- What is invoice factoring?
- Choosing a factoring company
- Invoice factoring for software development companies
- How to use factoring to finance your trucking company
- Common factoring application mistakes
- Invoice factoring financing for companies in the oil and gas industry
Questions? Call (866) 730 1922. Toll free in North Dakota.