Factoring for Service Providers

Factoring for service providers allows the flexibility that banks are not willing to extend. Assets such as land, inventory, or materials that can be quickly liquidated are typically required for bank loans. Typically, service providers don’t have these kinds of tangible assets, but they do own many invoices that can be collateralized into working capital.

Bank Credit Lines Inferior to Factoring for Service Providers

Our service provider clients apply for and receive funds within days by factoring their receivables. Cash flow shortages are resolved as our service providers sell current invoices at a discount to take on bigger accounts in the future. The account debtors who owe for services are evaluated for credit worthiness as opposed to our clients (the providers).

Low Service Providers Receivable Factoring Rates

Factoring rates for service providers rank as low as 1.59%. Factor Finders does not charge up-front fees or conduct invasive financial analyses. After accounts are set up within 3 to 5 business days, providers do not have to factor a minimum number of invoices. Credit lines ranging from $5,000 to $10 million are awarded. Initial funding decisions are made within 24 hours and we can give customer referrals.

Steps for Service Providers Receivable Factoring

Simply complete and return:

• A short application
• An accounts receivable aging report
• A list of customers you wish to factor
• Copy of Articles of Incorporation, Articles of Organization or DBA filing
• Factoring agreement
• Invoices you wish to factor

We Offer Cash Flow Resolutions

Service providers facing cash flow shortages or unpredictable sales patterns should consider Factor Finders’ services. Start-ups with a high volume of invoices but lack of past earnings may not yield bank credit, but will benefit from factoring. Unlike banks, Factor Finders does not include covenant violations or other stipulations that put the credit line in jeopardy.