ILLINOIS FACTORING COMPANIES
Expand Using Illinois Factoring Companies
Your business needs to hire more people, take on a big project or make a big purchase, but doesn’t have the funds. What do you do? You start factoring your accounts receivables.
What is accounts receivable factoring?
Invoice factoring, also commonly known as accounts receivable factoring, is the process of selling active invoices to a factoring company for a cash advance.
How do I factor?
Give us a call or fill out a form! That’s all your company has to do to start.
From there, we pair your business with a factoring company in Illinois that best fits your specific needs. They’ll put your company through a quick application and approval process.
Once you’re approved, you submit your invoices for completed work to the factoring company. They will then contact your customers and verify that the services have been completed or orders have been filled.
The factoring company then advances your business up to 95 percent of the accounts receivable, keeping the rest as reserve. Your customer will do as they always have, paying your factor on their normal payment terms.
Once the customer pays, the factoring company releases the reserve amount to your business minus a small factoring fee.
Industries served by factoring companies in Illinois
Janitorial: Need more capital to grow your janitorial factoring business? Invoice factoring can get you the money you need in as little as 24 hours.
Mining: Mining is another large industry in Illinois. Have a mining company that’s growing? Let us pair you with an Illinois factoring company that can help get you more cash.
Exports: Does your exporting company have customers that take between 30 to 90 days to pay you? Start factoring to get your money faster, allowing you to pay your employees on time and start new projects.
Don’t see your industry listed? Here’s our full list of industries we work with!
Request a Quote
Request a quote from our extensive factoring company network.
More Industries Served in Illinois
Tourism
Are you sick of waiting for your customers to pay? We work with the tourism industry to get businesses the cash flow needed to succeed.
Trucking
Let us help you get your trucking company the funds it needs to grow. We specialize in the trucking industry and will work to find you a factoring company with the lowest rates.
Staffing
Tell us what your looking for in a staffing factoring company and we’ll match you with someone who fits your needs.
Healthcare
We work within the healthcare industry to get companies the cash flow they need to expand their business.
Grow Your Business: Work with an Illinois Factoring Company
Looking to expand your business but don’t have the cash-on-hand to do so? Talk to us. We’ll put you in contact with a factoring company that fits your business’ size, needs and industry.
Why should my business factor?
- It’s not debt. Your company doesn’t have to pay anything back or put assets down as collateral.
- Your company can receive funding as fast as 24 hours.
- You’re in control. You decide what invoices your company wants to factor.
- Your credit doesn’t matter. Approval is based on the credit strength of your customers.
Locations Across the U.S.
Not located in Chicago or Springfield? We work with companies located in cities and states across the continental United States. Let us find a factor for you.