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Factoring Agriculture Receivables

Agriculture Receivable Factoring Feeds Your Cash Flow

The agriculture industry is critical to keeping market shelves and home pantries stocked, but slow-paying supply chain members and expensive license requirements can make it difficult to maintain a steady operation. Factor Finders’ agriculture receivable factoring program keeps your cash flow healthy from planting to harvest and beyond!

Funding is Simple

Receivables factoring is a business-friendly financing alternative to conventional loans and lines of credit. Unlike banks, which require pristine credit histories and often substantial collateral to secure funding, factoring for agriculture puts money in your bank account without lengthy credit checks and piles of documents.

AR Factoring = Working Capital for Every Link in the Agriculture Supply Chain

No matter what agricultural function your company provides, we can customize a factoring program to meet your ongoing needs. Receivable factoring helps all providers supporting agricultural operations, including:

  • Growers and farmers
  • Packers
  • Processors
  • Shippers (import and export)
  • Manufacturers
  • Distributors

Whether you supply schools, jails, municipal facilities or retail supermarkets, you can factor your unpaid agriculture receivables to bring in the money you need immediately. Agriculture receivable factoring offers a number of significant benefits to your company:

Fast funding
As mentioned above, you will typically receive funds within 24 hours of invoice verification.

Flexibility
Factor only the accounts you need, as little or as often as you need! There are no minimum or maximum amounts to factor. You also have complete flexibility to apply the money where you need it most, either for everyday operating expenses or for larger purchases such as your PACA license.

No new debt
Agriculture receivable factoring is not a loan, so it does not create debt on your balance sheet!

Build or improve your company’s credit
Not only does factoring your agriculture receivables not create debt, but factoring can also help you eliminate debt! When your cash flow is stable, you can focus on paying down old debts in order to raise your credit score for future financing.

Save additional time and money
Agriculture factors offer complimentary credit checks for your customers as well as concerted collections efforts as part of the factoring relationship. Taking advantage of these programs will help reduce your overhead as well as the time you spend on these tasks. In addition, you can save even more money by negotiating payment incentives with your creditors.

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Helpful Resources

Factoring FAQs

Five Ways Factoring Helps Your Cash Flow

How to Select a Factoring Company

 

Factoring Receivables is Easy for the Agriculture Industry

Submit your invoices for completed agricultural work
Agriculture factoring companies will fund invoices that are 1) unpaid; 2) payable by another company; and 3) unpledged to a third party (collectible). You can email or fax invoices with a request for funding, depending on your capabilities and your factor’s submission guidelines.

Receive cash within 24 hours
Once the factor verifies your invoices, they will initiate a same-day or next-day transfer directly to your bank account. Agriculture factors may advance up to 90 percent of the invoice value and hold the remainder in a reserve account until the invoice is paid.

Continue running your business as usual
Leave the collections up to your agriculture factor while you continue filling orders and building your business! The factoring company will follow up with your clients; in the meantime, you can submit more invoices as needed to maintain your cash flow.

Get paid, get your reserve
When your customers pay the agriculture factoring company, the factor will send you the reserved amount minus a small factoring fee. Most factors have a scheduled release schedule, which will be spelled out in your factoring agreement.

 

Here is What Agriculture Companies Need to Start the Factoring Process

Articles of Incorporation
Current invoice aging report
List of customers
Copies of invoices to factor
Completed application

You can qualify for agriculture factoring in as little as 3 to 5 business days, even if you have poor or little business credit – credit decisions are based on the quality of your customers rather than your company’s credit history.

Factoring agriculture receivables is designed to work seamlessly with your business, so you can spend less time chasing money and more time working your business.

Every day you spend waiting for payments is another day your business is not operating in prime condition. Fortunately, when you choose agriculture receivable factoring you are jumping on the fast track to cash flow freedom.

Peaches grow on trees, but money does not. Choose agriculture receivable factoring with Factor Finders and flourish today! Factor Finders provides funding through accounts receivable factoring and unsecured loans for small businesses. Contact us to learn more about our flexible programs.

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