Invoice Factoring In New York
Whether you are in New York City, Long Island, or Buffalo, invoice factoring is a smart business funding solution that gets you the cash you need when you need it most.
Slow paying customers can lead to a negative cash flow. Waiting 60 or 90 days for payment may be preventing you from accepting new clients, hiring employees, and expanding your business. Count on Factor Finders to pair you with a New York factoring company to help improve your cash flow without adding debt to your balance sheet.
Factoring vs. Bank Loans
Bank loans require an extraordinary amount of paperwork and are likely to leave you waiting days, if not weeks, for a response. In this time, your financial situation can head south. Factor Finders offers invoice funding solutions to obtain the working capital you need — quickly!
With invoice factoring, you have the ability to convert all of your invoices into working capital almost immediately. A New York factoring company will purchase your unpaid invoices at a discount and give you an instant cash advance.
Factor Finders uses various methods to select the right company for you. We get to know your business inside and out so as to pair you with the right New York invoice factoring company. Factoring companies vary — they specialize in different industries, have unique financial structures, and many provide different services from one another. We sort through the diverse array of options and match you with a NY factoring company that will best suit your company.
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Invoice Factoring with Factor Finders
So why work with Factor Finders? First and foremost, it’s easy. It can be difficult to sort through every single invoice factoring company and understand their programs while you are simultaneously trying to run your business. Comparing which factoring plan would be best for your business could require more time than you have available. At Factor Finders, though, it is our job to sort through and select the most advantageous factoring contracts for small businesses like yours. Not only do we have an extensive network of invoice factoring companies that we work with, but we also can secure low factoring rates for our clients, ranging from 0.69% to 1.59% for thirty days. All of our partners have account managers that will be in direct contact with you throughout the entire invoice factoring process.
Some of the other reasons to factor invoices include:
- No financials required
- No minimum monthly payments
- Flexible terms
- Funding within hours
How Does Invoice Factoring Work?
- After a short conversation, Factor Finders will match you with one of our funding partners. All of the factoring companies we work with are experts in their fields and will do everything in their power to get you funded.
- Once approved after a short application process (3-5 business days), you can begin to submit the invoices you’d like to factor.
- Your factoring company or assigned account manager will verify the invoices and advance you up to 95% of the total amount, usually within 24-hours.
- The factoring company will work directly with your debtor to collect the invoice amount. All the while, you get to continue business as usual with your money!
- Once the bill is paid, the invoice factoring company will release the balance of the invoice, minus a small fee for factoring services.
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What Industries Do NY Factoring Companies Serve?
We take pride in getting to know our clients and matching them with the right factoring company. We know the New York market and we can match you with a factoring company that will be able to provide you with the cash you need as soon as possible.
Industries we serve include: