Ohio Factoring Companies | Factoring Marketplace

Why Work with Ohio Factoring Companies?

Working with factoring companies in Ohio gives your business with working capital it needs to move to a new location, purchase new inventory or any other expense your company encounters in the growth process. Have your unpaid invoices generate money for your business by using accounts receivable factoring.

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

How Does My Company Start Working with a Factoring Company in Ohio?

All your company has to do to start working with an Ohio factoring company is give us a call or fill out an online form. From there, we’ll match your business with a factoring company that best fits your needs.

The factoring company then puts your business through a quick approval process. Once approved, your business can start submitting invoices for completed work. The factoring company contacts your business’ customer and verifies that the work has been done or services provided, then advances your company up to 95 percent of the accounts receivable. The remaining money is kept as reserve.

Your customer pays the factoring company on their normal payment terms. Once the factoring company is paid, they will release the reserve to you minus a small factoring fee.

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Industries Served By Ohio Factoring Companies

Whether your business deals with manufacturing or technology, trucking or staffing – we can find a factoring company in Ohio to fund your company.

Automotive

If your auto repair shop could use some extra cash for new equipment, give us a call. We’ll match you with a factoring company in Ohio that fits your wants and needs.

Steel

Get much-needed capital during long periods without pay using invoice factoring.

Agriculture

Get your agriculture business on the map using an Ohio factoring company. We’ll find the one that works with your industry and on your terms.

Staffing

Tell us what you’re looking for in a staffing factoring company and we’ll match you with someone who fits your needs.

Education

Does your small business provide educational services and need funding fast? We can help you find a factor to increase your cash flow.

Tourism

We work with many small businesses within the tourism industry to get companies the cash flow they need to expand their business, hire employees and make payroll.

Trucking

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

The Factoring Difference

Ohio invoice factoring stands out from traditional bank loans for several compelling reasons.

Quick and Simple Approval Process

Unlike the lengthy and complex application process for bank loans, Ohio invoice factoring offers a streamlined approval process. Minimal documentation is required, and the decision is based on your customer’s creditworthiness rather than your own. This makes it much easier and faster to secure funds.

Fast Access to Capital

Whereas bank loans can take weeks or even months to come through, invoice factoring can provide funding in just a few hours or days. Once approved, many factoring companies, even offer same-day funding. This rapid access to capital can be crucial for businesses that need quick liquidity.

Flexible Use of Funds

Bank loans often come with restrictions on how the funds can be used, and alternative funding options like venture capital may require giving up equity in your company. In contrast, invoice factoring gives you complete freedom to use the funds as you see fit, without any strings attached. There’s no need to sacrifice ownership or control of your business.

No Additional Collateral Needed

One of the most significant differences is the collateral requirement. Traditional bank loans usually require additional collateral, putting your assets at risk. With invoice factoring, the invoice itself serves as the collateral, eliminating the need for any further security.

In summary, invoice factoring provides a quicker, simpler, and more flexible financing solution compared to traditional bank loans, without the need for additional collateral or the sacrifice of business equity.

What Are The Benefits of Factoring?

Factoring is fast.

Companies can get founded in as fast as 24 hours of approval.

Factoring is easy.

Getting started is as easy as filling out an online form.

Factoring is not debt.

You don’t have to worry about paying back a loan or putting assets down as collateral.

Ohio businesses frequently struggle with delayed invoice payments, facing terms that extend to 30, 60, or even 90 days. This lag can lead to significant financial stress, disrupting steady cash flow and creating an environment of uncertainty.

Moreover, companies needing financial assistance the most often find it challenging to secure bank loans, leaving them grappling with a cash crunch. The persistent issue of slow payments not only affects daily operations but also hampers growth opportunities.

For businesses in Ohio facing these hurdles, invoice factoring can provide the needed relief, ensuring smoother financial management and stability.

Not located in Akron, Cincinnati, Columbus or Dayton?

We have a nationwide network of factoring companies that can get your business funded, regardless of where you’re located.

Ohio Factoring Companies:
Grow Your Business

Need capital to market your business? Don't blend in--stand out!--using Ohio factoring companies. All you have to do to get started is contact us.

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