Arizona Invoice Factoring
Grow Your Arizona Company with Factoring
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Seasonal changes, sudden growth, and prior financial difficulty can all cause your cash flow to dry up. Fortunately, there is a solution for Arizona businesses suffering from financial troubles that doesn’t involve going into further debt or closing your doors. By financing your receivables with an Arizona factoring company, you can get the working capital you need without all of the hassle associated with alternative methods of small business finance.
Whether you operate in the Phoenix metro area, Glendale or Tucson, an Arizona factoring company can provide you with the fast cash flow you need, as quickly as you need it and with far fewer requirements than traditional lenders. Industry-low factoring rates begin at 0.69% to 1.59% for 30 days, so more of the money you earn goes back into your business, where it belongs.
How Does Factoring Work for Companies in Arizona?
Factoring companies buy your invoices at a discount. Qualifying invoices are current (not past due at the time of factoring), unpaid, and payable by other businesses. (For companies working directly with individual customers, visit our information page on unsecured business loans to learn more about that alternative.)
Once your invoices are accepted for factoring, funds are deposited into your bank account within 24 hours. Your Arizona factoring company will collect directly from your customers according to the terms that you have already set with them. When the invoice is paid, you will receive the discounted amount from the factoring company.
Factoring is not a loan, so there is no interest to repay. In addition, the flexibility of a factoring relationship allows you to submit new invoices for funding even if your prior invoices have not been collected yet (subject to customer credit limits). Arizona factoring companies base their funding decisions on your customers’ credit ratings, so you can build your company’s credit by using factored funds to pay down prior debt.
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Arizona Factoring Benefits
- Simple paperwork
- No hidden fees
- Approval on customer credit
- Initial approval in 3-5 days
- Advances within 24 hours of invoice submission
- No loan to pay back
- Flexible terms
- No negative items on your balance sheet
Arizona Factoring Industries
Factor Finders works with Arizona factoring companies that specialize in the industries that keep the Copper State’s economy robust. Our account managers have years of experience offering customized, comprehensive factoring services to businesses that perform a variety of operations.
Some, but not all, of the industries we serve include:
- Agriculture
- Manufacturing
- Science and Technology
- Trucking
- Temporary Staffing
- Construction
- Government Contract
- Additional Industries
Working with an Arizona factoring company is simple. Our account managers will review your account and get you set up for fast funding within 3-5 business days. Replenish your cash flow with factoring and contact us today!
All you need to submit are:
- Your Articles of Incorporation
- Copies of invoices you wish to factor
- Current accounts receivable aging with customer contact information
Once paperwork is submitted, the factor will start to verify the invoices and advance you the cash, usually within 24 hours. Advance rates vary across industries, but you can expect advances up to 95%. The remainder is then held in a reserve account until payment is collected from your customers. Finally, Once your customers pay the invoice, the reserve amount is released back to you, minus a small factoring fee.
Don’t see your industry listed? Don’t worry — we can accommodate nearly any industry.