If your small business needs funding, don’t turn to a bank for a loan. Instead, consider invoice factoring. If you have slow paying customers, Oregon factoring companies can give you the money you need to pay your bills on time and continue to grow your business.
What Is Invoice Factoring?
Accounts receivable factoring, also known as invoice factoring, is the process of selling your business’ unpaid invoices to a factoring company for a cash advance.
Invoice Factoring in Oregon
Invoice factoring is the easiest way to get the money you need to watch your business grow.
Invoice factoring is simple. The first part depends on you. Tell us about your business —give us a call or fill out an online form. Based on your business’ needs and wants, we’ll partner you with the best Oregon factoring company in your industry.
You will go through a quick approval process. Once you are approved, you can start factoring your open invoices. The factoring company will contact your customer or customers and verify that the service was completed or the order was filled.
The factoring company will then advance your business up to 95% within 24-hours. The rest will be held in a reserve. Your customers will then pay the factor directly. Once payment has been received by the factoring company, the reserve will be released to you minus a small factoring fee.