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, invoice 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.
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.
Benefits of Invoice Factoring for Janitorial Services
Take on new customers with ease
Extend more attractive payment terms to clients
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.
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.
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.
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.
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 steps 2 through 4 as frequently as you need. Submit invoices and receive cash within 24 hours.
Janitorial Funding FAQs
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.
Commercial cleaning companies deal with a large number of customers at one time. If all those customers are taking 30 to 60 days to pay, that means your business is stuck with bills it can’t pay. With janitorial services factoring, your business can take on additional clients without the worry of running out of working capital for expenses. If you are looking for a solution that keeps your business out of debt with an opportunity for growth, you’ve found it with janitorial factoring companies!
Janitorial factoring gurus, at your service. Give us a call.
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.