Maine Invoice Factoring

Accounts Receivable Factoring for Maine Companies

The Pine Tree State may be seated at the top of the New England coast, but that doesn’t mean it’s without resources to grow a successful business. Factor Finders knows how invoice factoring for your Maine business can positively impact your cash flow and help your company thrive. If you don’t want to add debt to your balance sheet but need additional capital for your business, we can find you a factoring company in Maine that will factor invoices for you today.

What is Invoice Factoring?

Never heard of it? That’s okay! Invoice factoring is not very well-known, but a comprehensive funding solution that can infuse your business with constant working capital. An invoice factoring company will buy your outstanding receivables at a discounted rate and advance you the cash. Here’s how it works:

1. Factor Finders will discuss your invoice factoring needs and get to know your business. Once we have an idea of what you’re looking for, we’ll match you with one of our trusted partners that specializes in your industry.
2. A short application will be required but generally only takes 3-5 business days to process, unlike traditional bank paperwork. Once approved, you can begin submitting invoices! Your factoring company will verify the service or product and advance you between 70% and 95% of the total invoice within 24-hours.
3. The factor will work directly with your debtor to collect the invoice. Once your client pays the invoice, your factoring company will release the remaining balance of the invoice, minus a small fee for factoring services.
4. That’s it! Invoice factoring is extremely flexible: you get to decide which clients you factor and how often. There are no minimum amounts or monthly requirements.