Does your small Rhode Island business need funding to grow but you’re unsure on where to get funding? Consider 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. Perfect for your immediate cash needs.
Start Invoice Factoring Today:
1– Tell us about your business by either filling out a form or giving us a call.
2– Using the information you’ve provided, we’ll match your business with a factoring company in Rhode Island that best fits.
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 you, minus a small factoring fee.