The Best Factoring Companies for Janitorial Services
Is your janitorial business waiting to be paid by slow-paying clients? If you run a commercial cleaning business that could benefit from additional capital, janitorial factoring can help.
Accounts receivable factoring, also known as invoice factoring, is the process of selling your active invoices to a factoring company for a cash advance.
You don’t have to wait 30 to 90 days to get paid for the services you’ve already provided. Your business can get funded in as little as 24 hours using janitorial services factoring.
Use that capital to pay your employees, purchase supplies or fund other business expenses that unexpectedly occur. Janitorial services factoring is a great way to secure the financing necessary to grow and thrive.
How does janitorial services factoring work?
Factoring works by selling your unpaid invoices to a factoring company. In this instance, the janitorial factoring company issues your business an instant advance based on your outstanding receivables. With cash in hand, janitorial companies can take advantage of new clients and growth opportunities knowing you have the funds to successfully get the job done.
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We know how to get your business funded. If you’re not sure which funding product is best, we’ll walk you through the options.
Janitorial Companies We Work With
Regardless of which type of commercial cleaning work your business provides, we can partner you with a factoring company within minutes.
Carpet Care
Medical Waste Disposal
Construction Cleanup
Recycling Services
Restroom Sanitation
Special Event Cleanup
Upholstery Cleaning
Electrical Cleaning
Document Disposal
Window Cleaning
Food Sanitation
Office Cleaning
Hardwood Floor Care
Industrial Services
Steam Cleaning
Benefits of Invoice Factoring for Janitorial Services
- Take on new customers with ease
- Extend more attractive payment terms to clients
- Purchase supplies
- Equipment and vehicle maintenance
- Expand marketing efforts
- Startups are welcome
- No long-term contracts required
- A simple way to get payroll funding
Our financing services benefit janitorial companies of all sizes and stages. Even if your business has been denied for bank financing due to lack of credit or poor credit, you’ll likely be approved to factor invoices. Why? Janitorial factoring companies base approval on the strength of your customers since they are the ones responsible for invoice payment.
How Can Factor Finders Help a Janitorial Services Company?
Streamlined Office Management
Our network of factoring partners provides more than just financial support. They manage various administrative tasks like workers’ compensation, payroll, and accounts receivable. This allows your janitorial company to concentrate on delivering top-notch service. Many factoring companies also offer added perks, such as free credit and background checks on your clients.
Financial Freedom and Supplier Discounts
Having readily available cash flow enables your company to negotiate better terms with suppliers, such as discounts for prompt payment or bulk purchasing. This leads to significant savings and lower operational costs.
Flexible Contracts
Invoice factoring is a flexible financial solution. We offer short-term contracts, typically ranging from six months to a year. This ensures that you are not locked into a long-term commitment, allowing you to regularly reassess and adjust the relationship according to your evolving needs.
Approval Despite Poor Credit
Struggling with poor credit? We assesses the creditworthiness of your customers rather than just your company’s financial history. This means you can still qualify for funding as long as your clients are reliable payers.
In summary, we can boost your janitorial services company by managing administrative tasks, enhancing cash flow, offering flexibility in contracts, and providing opportunities even if you have poor credit.
Simple Funding Process
The initial application and approval process for janitorial factoring can be completed in as little as 3 days. Once you’ve been approved, you can factor janitorial invoices and obtain the funds within 24 hours.
Approval
Submit your application to the janitorial services factoring company and get approved within 3-5 days. Once approved, send your invoices to the factor. The factor will verify the invoices.
Payment
Once the janitorial services factoring company receives your invoices, they will advance you up to 95 percent of the funds within 24-hours. The remaining percentage will be held as a reserve.
Release
Invoices will be paid directly to the factoring company by your customers. Once the payment has been received, your reserve will be released minus small a factoring fee.
Repeat
Repeat steps 2 through 4 as frequently as you need. Submit invoices and receive cash within 24 hours.
Janitorial Funding FAQs
Have more questions? Check out our general invoice factoring FAQ page.
Q: Why should I consider factoring for my janitorial business?
A: Many commercial cleaners rely on factoring companies to maintain a steady cash flow. It’s a financing option that doesn’t add debt to your balance sheet.
Q: Why should I choose to work with your marketplace?
A: We work with factoring companies throughout the US and know which ones specialize in funding commercial cleaning businesses. We’ll match you with a funding company that understands the ins and outs of your janitorial services company. This leaves you free to keep running your business instead of wasting time searching for funding.
Q: What types of janitorial companies can benefit from factoring?
A. All janitorial services can benefit from factoring! Some examples are sanitation, floor care, steam cleaning, construction cleanup and office cleanup.
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Government Contractors in the United States
Having the opportunity to fulfill a government contract can be great for your business, especially if you’re a smaller company or just starting up. While it can be a exciting possibility for growth, establishing the necessary funds to purchase materials and pay workers can be extremely stressful, leading many businesses to turn down the government contract. Invoice factoring gives you the luxury of advanced payments whenever you need them and will allow you to take on government contracts and lead your business to more success in the future.
Give us a call at 216.279.5144
As a driven business owners, you’ve come to the right place. Our marketplace is filled with government contract factoring companies that will help you reach all of your business goals this year. Government contracts are highly competitive and you don’t pass up a fantastic opportunity. Out bid your competitors with the help of accounts receivable factoring.
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Our funding referral services are at no cost to you. YES, we mean it!
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