Could your business use some extra capital to somehow grow your workspace, crew or project size? Look into invoice factoring with a Michigan company.
Advance receivables factoring, also known as invoice factoring, is the process of selling active invoices to factoring companies for a cash advance.
How do you Factor?
Factoring is easy. All your business has to do is reach out to us, either by phone or by online form. We’ll ask you about your company, and from there pair you with a factoring company in Michigan that fits your needs.
That factoring company will put your business through a quick approval process before you can submit your work invoices to them. Once your invoices are submitted, the factoring company contacts your business’ customers and verifies that the service was completed or the order was filled.
After the order is verified, the factoring company advances your business up to 95 percent of the account receivables and keeps the rest as a reserve. The factoring company releases the reserve to your business, minus a small factoring fee, once your customer pays the factoring company for the invoices.