Work with a Montana Factoring Company to Get the Funding You Need!
Do you need to secure additional working capital for your business? Are you tired of banks forcing you to observe their waiting period while you sink further into debt from a loan? A Montana factoring company is the ideal solution to your problems. Factor Finders offers a service that pairs your business with a top-notch Montana factoring company in order to get your business the money it needs. At Factor Finders, we want to get to know you and your business in order for us to maximize the experience for you. We take into account the financial state of the company, the size, and the knowledge the company has of your industry to ensure we select a Montana factoring company that is right for you.
What is Invoice Factoring?
Factor Finders uses invoice factoring, which provides instant capital regardless of your business’ history! Invoice factoring is the purchase of accounts receivable for instant cash. Instead of waiting 30, 60, or even 90 days for your customer to pay, factoring provides almost immediate access to working capital without going into debt. A factor will purchase your outstanding invoices at a discount and provide the funds to your business within 24 hours.
- Your application can be processed in as few as 3-5 working days. Once approved, you can begin to submit invoices to your factoring company.
- The factor will verify your invoices and then advance you up to 95% of the invoice.
- The factor will work directly with your debtor to collect the invoice — you can worry about more important things, like growing your business
- Once paid, your factoring company will release the remaining balance back to you, minus a small fee for invoice factoring services
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Why Use a Montana Factoring Company?
Montana invoice factoring provides hassle-free business funding by offering a unique and flexible financial option. One of the many benefits of invoice factoring in Montana is that, while banks often turn down customers due to bad credit history or no history at all for startup companies, these factors have no place in our procedure. Due to the fact that the factoring company only advances the funds that are tied up in outstanding receivables, you never take a loan from the funder, therefore, the credit score of your customer holds more significance.
Invoice Factoring VS. Bank Loans
We know getting an approval from a bank to provide you with additional funds to operate your business can be a challenge. Assets have to be put up as collateral and the in-depth credit checks can be overwhelming. Other benefits of invoice factoring include:
No hidden fees
High advance rates
No credit check
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How Does Invoice Factoring Work? The Process
Apply & Get Matched : The application requires simple paperwork that requires a mere 3-5 business days before approval. Once approved, your business will be matched with one of the best factoring companies in Montana, selected through our large network of professional factoring companies, who will guide you throughout the entire process.
Submit Invoices : The Montana factoring company will purchase your outstanding invoices and advance between 80-95% of the total invoice amount to you within 24 hours. The remaining amount of the invoice will be held in a reserve account until completion of the transaction.
Continue Business : The factoring company will take the reins from here, as they will work directly with your debtor in order for you to focus on business of your own!
Receive Cash : Once the factoring company collects the total invoice from the debtor, the reserve amount of the invoice will be returned to you, minus a small factoring fee.
What Types of Industries Do Montana Factoring Companies Serve?
Finding a Montana factoring company that understands your industry and your needs is critical. Working with Factor Finders makes the search process a lot easier for you. Montana invoice factoring benefits a huge range of industries. Some of these industries include: