Access to cash is essential to make business growth possible. If your business works with companies that take a while to pay you, consider invoice factoring.
Invoice Factoring in New Hampshire
Accounts receivable factoring, also known as invoice factoring, is the process of selling your business’ unpaid invoices to a third party financial company for a cash advance.
How Does My Business Start Factoring?
1– Tell us about your business by filling out an online form or giving us a call.
2– Using the information you’ve given, we’ll match your business with a factoring company in New Hampshire that fits your needs.
3– The factoring company puts your business through a quick approval process.
4– Your business submits invoices for completed work to the factoring company.
5– The factoring company contacts your customer and verifies the service was completed or order was filled.
6– Your business receives up to 95 percent of the accounts receivables as a cash advance from the factoring company. The rest is kept as the reserve.
7– Your customer pays the factoring company on their normal payment terms.
8– The factoring company releases the reserve to your business, minus a small factoring fee.