Portland Factoring to Grow Your Business
Portland, Oregon is a prime location for businesses to thrive, and not just the fictional ones in Portlandia. If your company’s cash needs are holding you back, however, instant financing from a Portland factoring company is just a phone call away.
Invoice factoring is a risk-free solution to manage your expenses without adding debt to your balance sheet. Rather than lend you money, as a conventional funding source would do, a Portland factoring company will purchase the rights to your unpaid invoices and advance you cash against their value.
How Invoice Factoring Works
Factoring invoices is fast and easy:
- Provide products or services to your customers and invoice them as usual – and send a copy of the invoice to the factoring company.
- The factor will verify your invoice and forward 70 to 90 percent of the invoice value to you, usually within 24 hours.
- Your customers will pay the factor to close their invoices.
- When the factoring company receives payment, they will send the remaining value of the invoice to you (minus their fees).
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Benefits of Portland Factoring
The factoring process is designed with your needs in mind: it is flexible, so you can factor invoices as much and as often as is right for your company’s cash flow; it is business-friendly, offering access to capital without imposing minimum or maximum amounts to meet; and it offers additional benefits so you truly get the most for your money.
Benefits range from back-office support such as credit verification and collections, which would free up more of your time and money, to online reporting available 24/7. Moreover, specific industries and accounts can qualify for specialized benefits such as non-recourse funding options or fuel advances and discounts.
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Qualification with a Portland Factoring Company
Qualifying for funding from a Portland factoring company is equally straightforward. You can begin with as little as an application, customer list and copies of your current open invoices, and most invoice factoring companies can approve you in as little as 3 to 5 business days with minimal additional paperwork. Best of all, our factoring partners do not require a personal guarantee so you can secure funding with greater peace of mind. Bad credit is okay because factoring companies in Oregon and elsewhere in the U.S. base approval on the strength of your clients, not your personal or business history.
Invoice factoring is available to companies in a number of Oregon industries. If your industry is not listed here, don’t fret! We will still work to find you the best possible factoring company for your business needs.
Factoring Companies Work with the Following Industries & More:
- Manufacturing (including steel, consumer goods and technology components)
- Utility providers and contractors
- Oil and gas
- Retail companies
- Staffing (temporary and permanent placements)
- Freight & transportation
If you want to secure your company’s success, invoice factoring is your ticket to a healthy cash flow. Contact Factor Finders to speak with a Portland factoring company today. We will make sure you partner you with the best factoring company in your niche.