Use Factoring Companies in Riverside To Get Your Business Funded
If you have a business that needs more working capital to get ahead of the other companies in Riverside, you might want to consider accounts receivable factoring.
What Is Accounts Receivable Factoring?
Invoice factoring, also known as accounts receivable factoring, is the process of selling your active invoices to a factoring company for a cash advance.
How Do I Pick The Best Factoring Company In Riverside For My Business?
You don’t have to waste your time picking out the best Riverside factoring company for your business—we do that for you! Tell us about your company by either giving us a call or filling out an online form. We then use that information to match your business with the factor that can best service your size, industry and location.
What Are the Steps of Factoring?
- We match your business with a factoring company that best fits your needs.
- The factoring company puts your business through a short approval process.
- Your business submits invoices for work completed.
- The factoring company then contacts your customers and verifies the service was completed or the order was filled.
- Your business receives up to 95 percent of the invoice amount from the factoring company. The other 5 percent is kept as the reserve.
- Your business’ customer pays the factor on their normal payment terms.
- The factoring company releases the reserve back to your business, minus a small factoring fee.
Why is factoring better than a bank loan?
Factoring is better than a bank loan because:
- You don’t have to repay debt or put assets down as collateral.
- Your company receives funding in as fast as 24 hours.
- Approval is based on the credit strength of your clients, not you or your business.