CHICAGO FACTORING COMPANIES

How to Grow Your Business Using Chicago Factoring Companies

Is your Chicago-based company facing unexpected cash flow problems? Do you want to expand your company but don’t have the funds? Try invoice factoring.

What is invoice factoring?

Accounts receivable factoring, also known as invoice factoring, is the process of selling your active invoices to a factoring company for a cash advance.

How does factoring work?

Factoring is a multi-step process. It starts out with you giving us a call or submitting a form.

The factoring process:

  • We match you with a Chicago factoring company that can best serve your business.
  • The factoring company puts your business through a short approval process.
  • Your business submits invoices for work completed or services provided.
  • The Chicago factoring company gets in contact with your customers and verifies the service was completed or the order was filled.
  • The factoring company advances your business up to 95 percent of the accounts receivable, keeping the rest as reserve.
  • Your customer pays the factoring company on their normal payment terms.
  • The factoring company then releases the reserve to your business, minus a small factoring fee.

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Does my business qualify for invoice factoring?

If your company is B2B, it most likely qualifies for invoice factoring. We cover businesses in the following industries, plus many others.

manufacturing factoring

Manufacturing:  If your food or beverage manufacturing or distribution business needs the funds to grow, we can provide you a Chicago factoring company to meet all your needs.

healthcare factoring

Healthcare: Do you own a medical coding or billing business in Chicago? Get funds to hire employees, purchase new software or fund any other business expense using invoice factoring. 

Technology Industry Factoring

Technology: The technology industry is very competitive in Chicago. Let us partner your business with a technology factoring company today so you can get started growing and expanding your brand.

If you’re still unsure if your business qualifies for factoring, or have questions about factoring in general– check out our FAQs or speak with one of our factoring experts. 

More Industries Served in Chicago

trucking industry

distribution industry

construction factoring

Service Providers

Trucking

 Does your trucking business need funding fast? We can help you find a factor to increase your cash flow.

 

Distribution

 Does your distribution company need more money to grow? We’ve got you covered with invoice factoring.

Construction

Let us help get your construction company the funds it needs to grow. We specialize in the industry and will work to find you a factor with the lowest rates.

Service Provider

Does your small business provide services and need funding fast? We can help increase your cash flow.

Why should my business work with a Chicago factoring company?

  1. Factoring is simple.

All your business has to do is reach out to us by phone or form. We do the rest for you. The factoring company even handles your business’ billing and collecting so you can focus on growing.

  1. Factoring is fast.

Your business won’t be waiting weeks or months to get the capital you need. Unlike a bank loan, your company can receive funding within 24 hours of being approved for factoring.

  1. Factoring is not debt.

That’s right. Factoring is an advance on your unpaid invoices, not a debt. Your company also doesn’t have to put assets down as collateral.

Not in Chicago? That’s okay. We can match you with a factoring company in Illinois or across the nation.