Invoice Factoring Companies in Michigan
Finding a factoring company in Michigan can be difficult when you don’t know where to start. Whether you are in Detroit, Lansing, Kalamazoo, etc., you will quickly find that there are plenty of factoring companies in Michigan for you to choose from. But… which MI factoring company is most beneficial for your business niche?
At Factor Finders, we simplify the process for you. We offer a unique service — we will match you with the company from our large network that is best qualified to assist you financially. This makes it possible to find a Michigan factoring company that is familiar with your industry, has a proven history of success, and has the cutting edge technology with which to inform you of what’s going on. Whether you need fast funding for payroll, taking on new clients or weathering seasonal ups and downs, invoice factoring can help!
How Does Invoice Factoring Work?
- First, we’ll talk. Factor Finders wants to know more about your business and business goals. We take the time to listen to your business’s situation and then we’ll match you with the perfect factoring company. We have an extensive portfolio of partners and account executives that specialize in almost every industry.
- After a short application that generally only takes 3-5 business days to process, you can send invoices to your factoring company.
- The factoring company will verify the invoices. Once completed, they will advance you up to 95% of the total amount, usually within 24 hours of agreeing to work with you.
- Your invoice factoring company will work directly with your debtor to collect payment so that you can focus on the important things, like growing your business.
- Once the invoice is paid, the factoring company will remit the balance to your business, save for a small factoring fee.
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Why to Use a Michigan Invoice Factoring Company Instead of a Bank
Many industries turn to Michigan factoring companies for one main reason – it doesn’t add debt to your balance sheet. Imagine being able to have the operating funds you need without having to make any repayments down the line.
Using a Michigan factoring company allows you to sell your accounts receivables for immediate cash This provides the funds you need on the same day, rather than 60 days later, as is typical of most invoices. You can’t always count on clients to pay in a timely fashion, but you can count on an invoice factoring company to supply you with steady cash flow.
Turned down for a bank loan? Stop worrying about where to find funding. Approval to factor invoices is easy and doesn’t require perfect credit or a long operating history. Startups are welcome!
Learn more about Payroll Funding in Michigan
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Michigan Factoring Companies Provide Fast and Flexible Funding to Nearly Any Industry
Factor Finders is dedicated to matching you with the perfect factoring partner for your business. Put our network to work for you and find a factoring company in Michigan that has extensive knowledge of your industry.