Invoice Factoring for Kentucky Companies
From Louisville to Frankfurt, factoring companies in Kentucky can help your business access the capital that it needs to expand.
Invoice factoring is a fast, safe, and smart way to expedite the process of collecting the money that is owed to you through accounts receivables. So often, businesses are hampered by waiting to collect from their debtors. And, as they say, time is money, so stop using your time waiting to collect, all the while losing money! Trust Factor Finders to help connect your enterprise to the best Kentucky factoring companies. We can help you collect money faster so you can concentrate on more important things, like you know…bourbon and horses.
Invoice Factoring Helps Kentucky Businesses Get Funded
Invoice factoring, also called accounts receivable factoring, is the process of selling your receivables to a factoring company. The factor purchases your outstanding invoices and provides an instant cash advance between 80%- 95%. This funding method is remarkably simple and effective.
Once you have funds in hand, the KY factoring company will collect the payment from your clients, alleviating you of the frustrating collections process. Once paid, the invoice factoring company will return the amount held in reserve, minus a small fee for services provided.
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Factor Finders Will Find You the Best Kentucky Factoring Company
At Factor Finders, our goal is to help you find the best factoring company for your needs. There are various factors that go into choosing the right Kentucky factoring company for you. Some of the factors we take into consideration before pairing you with the right factoring company are:
- Amount of outstanding receivables
- Size of your business
- Time frame you are requesting the funding
Once you decide to factor invoices, you will be able to eliminate the need for any kind of repayment. Instead of having to repay a loan, the Kentucky factoring company takes a percentage of your total receivables off the top.
Approval for Factoring
Factoring approval is easy for small businesses. Your credit score and payment history is hardly relevant when it comes to factoring. Kentucky factoring companies are very flexible and can work with businesses with any type of financial history. The factor determines whether they would like to purchase your accounts receivable based off of the credit of your debtor, seeing as they are the ones that will actually be held responsible for making payments.
Call Us Today for More Information!
We can help your Kentucky business get more working capital @ 855-322-8671
Kentucky Industries and Factoring Benefits
Advantages to Using a Kentucky Factoring Company
- Your business emerges debt free. When you utilize the services of a factoring company, you do not go into debt at any point. This type of financing does not function like a bank loan. You are simply collecting the money that is owed to you faster.
- You have working capital almost immediately. Waiting for your debtors to pay off accounts receivables can really be a hindrance in the development of your small business. Using a factoring company in the Bluegrass State eliminates such problems, allowing you to move on to your next project whenever you’d like.
- It’s flexible! You get complete control: you get to decide which clients you factor and how often. There are no minimums or monthly requirements.
- It’s really fast. A bank loan could take you weeks or months to obtain. With invoice factoring, there is only a short application that generally takes 3-5 working days to process. Once you’re approved, you can begin submitting invoices and once it’s verified, you’ll receive your funds within 24-hours.