Ensure Steady Cash Flow Using Minnesota Factoring Companies

Making sure your company’s finances are in top shape is challenging, especially when the business is growing, expanding or otherwise changing. Ensure your company’s cash flow is where it needs to be by utilizing alternative funding solutions in the form of accounts receivable factoring.

What is Accounts Receivable Factoring?

Invoice factoring, also known as accounts receivable factoring, is the process of selling a company’s unpaid invoices to a factoring company for a cash advance.

How Do I Work with A Factoring Company in Minnesota?

1. Either give us a call or fill out an online form.
2. We’ll match you with a Minnesota factoring company that best fits your needs.
3. The factoring company puts your business through a quick approval process.
4. Once approved, the factoring company contacts your customers to validate your business provided the goods or services that they claim they did.
5. Your company then sells your unpaid invoices to the factoring company.
6. The factoring company advances your business up to 95 percent of the accounts receivable within 24 hours, with the rest being kept as reserve.
7. The customer pays the factor on their own time.
8. Once paid, the factor releases the remainder of the reserve to you, minus a small factoring fee.