Cell Tower Maintenance Factoring
If you own a cellular tower maintenance company, you probably have a reliable client base, which is great for running your business. However, a lot of these clients might have long payment terms, some over 30 or 60 days. This can cause an unstable cash flow for your cell tower company.
Invoice factoring for cell tower maintenance companies is similar to factoring for cable and telecommunications factoring. It’s a great option for financing to bridge the gap between payment periods. Especially if your business is growing and taking on new clients, factoring is a solution to slow paying clients.
How Does Factoring Work for Cellular Tower Maintenance Companies
Invoice factoring, also known as accounts receivable factoring, is a straight-forward process. This is one of the reasons why many companies decide to use factoring to get their company funding. The steps are:
- Find the best factoring company for your business needs. This is what we do best! Submit the application and necessary paperwork to get set up.
- Provide your services as usual and invoice your customers.
- Submit invoices that you wish to factor to the factoring company.
- The factoring company will advance you most of the invoice, minus the reserve.
- Your customers will pay the factoring company according to the usual payment terms.
- The factoring company will release the reserve to you, minus the small factoring fee.
It’s that simple. The application process is quick and easy. It’s even possible to get funding within a 24 hours.
Complete the form or call 855-322-8671 for more information. We’re happy to help!
Why do businesses factor?
It’s easy to get approved because it is based on the creditworthiness of your customers, not you as the cellular maintenance business owner.
Once you’re approved, you can get funding quickly, sometimes within 24 hours.
Unlike other types of funding, there are no long-term contracts. We listen to what your business needs and get you to the best factoring company.