Factoring Financing - Ohio Companies
Waiting up to 60 days to get paid by clients can be a major challenge for small business owners. It's drains the company's financial resources and can create cash flow problems. But most business owners don't have a choice - large customers will often demand to be given generous payment terms as a condition of doing business with you. We can help you solve this problem.
Factoring financing solves this problem by accelerating the revenues that are tied in slow paying invoices. This provides your company with the needed funds to pay for critical expenses. More importantly, it allows you to offer terms with confidence. We offer invoice factoring services to companies based in Ohio and can provide you with the financing that your business needs.
Factoring rates as low as 1.5%. Advances as high as 85%
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Questions? Call (866) 7301922. Toll free in Ohio.
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 Ohio 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.
Factoring allows you to finance your invoices through a factoring company in exchange for an immediate payment. You can use this working capital infusion to pay important expenses - and to take on new business opportunities. In general, factoring plans integrate well with most companies and are structured as a two installment financing of your receivables. The transactions follow this structure:
- 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
In many cases, accounts receivable factoring can be better solution to this problem than most other business financing products, such as business loans. Factoring lines are easier to qualify for and quick to set up. Also, factoring lines are flexible and can easily grow with your revenues. This makes them an alternative for companies that cannot qualify for bank financing due to strict banking collateral requirements.
If your customers are taking too long to pay and this is creating cash flow problems, factoring may be the right solution for you.
Need more resources?
Are you looking to learn more about our financing solutions? Here are some additional resources that will help you make a decision.
- What is invoice factoring?
- Choosing a factoring company
- Financing an oilfield transportation company with factoring
- Invoice factoring financing for IT companies
- Factoring application success strategies
- Invoice factoring for life sciences staffing companies
Questions? Call (866) 730 1922. Toll free in Ohio.