Need an Arkansas Invoice Factoring Company?
Whether your business is in Little Rock, Harrison, Fayetteville, or El Dorado, an Arkansas factoring company can help provide you with the working capital you need to expand your business or to simply keep it running smoothly. Small businesses are often prevented from pursuing advantageous endeavors because they are put on hold while they wait on a payment from their customers. One of the easiest and most effective ways to bypass the dreadful waiting period and get immediate funding is through a process called invoice factoring. Factor Finders works to pair your business with one of the best factoring companies in Arkansas.
Bad Credit? Don’t Worry About It!
Are you worried that bad credit will prevent you from qualifying for this simple and secure process? Don’t be. One of the many perks of invoice factoring is that funders do not take the financial history of the business into account at all. Invoice factoring depends on the ability of your customers to pay their invoices on time; your credit means nothing to us as you have already earned the money we fund! This can present a great opportunity for startup businesses, as bank loans often require collateral and can send your business into the seemingly inescapable realm of debt.
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Get Cash Flow from Arkansas Factoring Companies
Invoice factoring is an easy process by which factoring companies in Arkansas purchase your outstanding invoices and advance you the cash you need so that your business can stay focused on what most deserves its attention — raising profits. Accounts receivable factoring, another name for invoice factoring, is one of the most business-friendly options as it does not put your company into debt. The process is very comprehensible and can be explained in 4 easy steps.
- First, as with any funding arrangement, you must apply. Arkansas factoring companies require much less paperwork than traditional bank loans. Simply submit a list of the invoices you wish to factor, a list of current customers, and your company’s Articles of Incorporation with a short factoring application.
- After a brief review of your application, an Arkansas factoring company will purchase your outstanding invoices within 3-5 business days. They will advance 80-95% of the total value of your invoice within 24 hours of approval, and the remaining balance is held in a reserve account until payment from your customer is received. You now have working capital to continue your business operations as planned.
- Next, the factor company will work with your debtor and collect the payments directly from them — you are free such a responsibility! Arkansas factoring companies are experts when it comes to working with your debtors, ensuring that they pay the satisfactory amount in a timely manner.
- Once the entire invoice is paid, the Arkansas factoring company will release the remaining amount of your invoice, minus a small factoring fee.
Invoice factoring is a great way to increase cash flow in a short amount of time rather than waiting the traditional 30, 60, or even 90 days for payments to come in. It also frees you of the stress of chasing down your customers to ensure their payments are accounted for (we take care of that for you)!
Ready to Find an Arkansas Factoring Company?
Start invoice factoring today by calling (216) 292-5660
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