Factoring for St. Louis Businesses
If your customers pay more than 60 days out but your bills are due in 30, factoring companies can close the gap.
Invoice factoring is an alternative finance method that uses your unpaid receivables to generate cash you can use immediately. The process is simple: send your open invoices for work completed to a Missouri factoring company. Once they have verified your invoices and debtors, they will advance 70 to 90 percent of the invoice amount to your bank account – usually within 24 hours. The invoice factoring company then has the rights to collect on the invoices; when they do, they will send you any remaining invoice value minus their fees.
St. Louis Factoring Companies for Business Growth
There are no limits to how you can spend your factored funds. Use the cash to make payroll, market to your customers, or purchase new equipment. You can invest in your company’s growth in any way you choose – the possibilities are endless! Best of all, you can build your credit without creating new debt on your balance sheet because invoice factoring is not a loan.
Benefits of Working With Factoring Companies in St. Louis
Financing your invoices with a St. Louis factoring company can do more than simply help your bottom line. Additional benefits include, but are not limited to:
♦ Cash flow potential that grows with your sales
♦ No long-term contracts
♦ Industry-specific benefits (i.e. fuel advances/discounts)
♦ No minimum or maximum amounts to factor
♦ Fund with no personal guarantees
♦ Back office support, including collections and credit verification for your customers
♦ For certain accounts, non-recourse invoice factoring is available
♦ 24/7 access to online reporting
St. Louis factoring companies can approve your company for funding in as little as 3 to 5 business days, significantly faster than even the most efficient traditional lender. There is minimal required paperwork, and because invoice factors evaluate your customers’ credit when making their decisions, you can be approved even with no credit or a poor payment history.
Factor Finders can place you with the perfect factoring company in Kansas City or St. Louis, Missouri today. Make your business goals a reality – contact Factor Finders now to solve your cash flow needs!
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Factoring Companies in Any City in Missouri
Companies of all sizes and conditions can qualify for invoice factoring, from small startups to fruitful St. Louis establishments. Our extensive network of factors can customize a factoring program to meet any St. Louis company’s needs. Some of the industries that benefit from partnering with a factoring company in Missouri include: