 Why Factoring?
Factoring is an alternative form of financing when traditional loans are not available to a business. Factoring is the sale of a company’s accounts receivable to a third party (Factor) at a discount.
Companies turn to factoring when other sources of financing have been exhausted and they still need to grow and finance their business. There are many benefits to financing your business with factoring:
Increase sales
- Approve new customers
- Accept larger orders
- Extend favorable credit terms to your customers
- Hire additional salespeople
- Expand your product offering
Improve your cash position
- Convert your receivables into cash
- Access a financing facility that grows with your sales
- Use the funds to manage your business as you see fit
- Take advantage of vendor discounts
Enhance your business
- Build your business credit profile by paying your bills on time
- Finance your business without adding debt
- Monitor your customers’ payment history
- Make investments in your company
Ready to start? Apply Now. There is no application fee.
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