CASH FLOW IS THE #1 PROBLEM FACING SMALL BUSINESSES
First Choice Funding Group pays your outstanding invoices in days. We wait for your customer to pay. You focus on your business.
What is Invoice Factoring?
Invoice factoring is a quick financing option for businesses who may be waiting for their customers to pay their invoices for 30, 60 or 90 days. With invoice factoring, also called accounts receivable financing, business owners are able to sell unpaid invoices for immediate access to working capital. Once approved, you typically receive the funds within a few business days. The factoring company buying the invoice will deduct its fee from your proceeds–First Choice Funding Group’s fee can be as low as 0.55%. They will typically advance from 80 – 95% of your accounts receivable.
Is Invoice Factoring right for your business?
Invoice factoring converts your accounts receivable into working capital without creating debt or adding liability. Factoring does not rely on your credit rating, collateral, or bringing in investors, so companies that have faced previous cash flow challenges more easily qualify for funding.
When you work with a factoring company, you are not restricted in how you use the funds like many traditional financial institutions. You can use the funds to cover payroll and other payments vital to your business. And, you can use it as the need arises without having to reapply. Selling your accounts receivable offers you a flexible form a financing that scales with the growth of your businesses without lengthy paperwork.
Need invoice factoring?
