Running your own business can be hard but having access to working capital could make it much easier. Working with South Dakota factoring companies could give you the working capital you’ve been needing through invoice factoring.
What Is Invoice Factoring?
Invoice factoring or accounts receivable factoring is the process of selling active invoices to a factoring company for a cash advance.
Factoring in South Dakota
It’s fast. Your business can get funds through a factoring company in California in as fast as 24 hours.
It’s easy. Fill out a form or give us a call.
1: Based on the information you provide, we pair your business with the best South Dakota factoring company for your needs and wants. The business will put you through a quick approval process.
2: Once approved, your business submits invoices for completed work. The factoring company then contacts your customers and verifies the service was completed or the order was filled. After they verify, the factoring company will advance your business up to 95 percent of the accounts receivable, keeping the rest as reserve.
3: Your customer pays the factor on their normal payment terms. When the factor receives payment from the customer, they’ll release you the reserve minus a small factoring fee.