Better Your Business: Use a South Carolina Factoring Company

What could your business accomplish with new marketing or advertising? How about a few new hires? New equipment? Stop wondering and start growing your business with invoice factoring.

Accounts receivable factoring, also commonly known as invoice factoring, is the process of selling your business’ unpaid invoices for a cash advance.

The Steps of Invoice Factoring

• Tell us about your business by either giving us a call or filling out an online form.
• Get paired with a factoring company in South Carolina that fits your business’ wants and needs.
• The factoring company puts your business through a quick approval process.
• Once approved, your business starts submitting invoices for completed work.
• The factoring company contacts your business’ customers and verifies the service was completed or order was filled.
• Your business receives an advance of up to 95 percent of the accounts receivable from the factoring company. The factoring company keeps the remainder as the reserve.
• The customer pays the factor on their normal payment terms.
• The factoring company releases the rest of the reserve to your business, minus a small factoring fee.