Invoice Factoring in Utah
Are your customers taking up to 6 weeks to pay their invoices? Are you offering them payment terms but can't afford to wait that long? This is a common problem for small and growing companies who often find themselves overextended after offering terms to their customers. You can solve this problem by using invoice factoring. This improves your cash flow and provides the funds you need to cover critical company expenses.
We offer factoring plans to companies in Utah and can provide you with a competitive quote.
Factoring rates as low as 1.5%. Advances as high as 85%.
Click here to get funded quickly!
(subject to monthly volume and industry).
Funding for companies in the service,distribution, oil field services, janitorial, and manufacturing sectors that are located in Utah.
Funding for freight companies and brokerages.
Financing for product resellers and importers in various industries. 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 Utah 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.
What is invoice factoring?
Our solution allows companies to sell their invoices to a factoring company in exchange for immediate funds. It eliminates the usual 30 to 90 days wait to get paid by customers, and provides you with immediate funds to pay important expenses. Invoice factoring financing enables growing companies to capitalize their best asset - their receivables form credit worthy customers.
Our solution is easy to use and is structured as follows:
- You deliver your product or service to your client
- You generate an invoice and sent it to your client (with a copy 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
Factoring companies can offer a better solution to improve this cash flow problem than most other business funding options. Most factoring lines are easier to qualify for than conventional financing lines. They can also be deployed quickly. Lastly, the line has no set maximums. Your receivables financing line is based on the amount and quality of your invoices and is designed to support growth.
Does your small business qualify?
The approval criteria for accounts receivable factoring is simpler than the criteria for most common financing solutions. In general, your company must:
- Have commercial customers with good credit
- Have adequate gross profit margins
- Have receivables that are free of liens or encumbrances
- Be free of major legal/tax problems
Looking for more information to make a decision?
Are you looking to learn more about our solutions? Here are some additional resources that will help you make an informed decision.
- What is accounts receivable factoring?
- Choosing a factoring company
- Advantages of invoice factoring
- Business financing for directional drilling (directional boring) companies using factoring
- Business financing for logistics companies
- Are your commercial customers worthy of net 30 payment terms?
- How to get the best factoring rates
Questions? Call (866) 730 1922. Toll free in Utah.