Accounts Receivable Factoring Companies in Hawaii
Using Factor Finders network of Hawaii factoring companies, businesses in the “Aloha State” have the option to choose factoring companies rather than having to solicit banks for a loan. Today, banks all across the state, from the island of Kaui all the way to the Big Island, have to compete with Hawaii factoring companies when it comes to offering financing based on accounts receivables. While banks do offer a comparable rate to financing offered by factoring companies, financial processing is quite different when dealing with factoring companies.
How Does Invoice Factoring Work?
- After a short application that generally only takes 3-5 days to process, you can begin submitting invoices to your factoring company
- Once the invoices are verified, your factoring company will advance you up to 95% of the invoice within 24 hours
- When your debtor pays the invoice to the factoring company, the factoring company will release the remaining balance back to you, minus a small fee for factoring!
- Repeat as often as you’d like, with as many clients as you wish!
Hawaii Factoring Companies Can Help Businesses Grow
Factor Finders specializes in finding and matching invoice funding solutions for large corporations, medium sized companies, small businesses and start-up companies by working with a network of Hawaii factoring companies. Financing is available to all types of businesses regardless of their size, location or the type of industry. How can working with a factoring company help you get the money you need?
No Credit Checks or Credit History Checks
Working with a factoring company is a much easier process than having to endure all the requirements needed to secure a bank loan. Financing becomes approved when a company’s customers’ (account debtors) capability to pay their invoices have been verified.
Quick and Easy Approval
Working with Hawaii factoring companies is quick and easy. If you would like to avail of financing, then all you need to do is send our factoring company the information regarding a particular customer that you would like to use with factoring. Once your customer’s credit rating has been reviewed, you can avail of up to 90% of their receivable cash value.
Factoring Provides Flexible Financing
Invoice factoring is much like a traditional loan, but it doesn’t show up on a company’s balance sheet as a loan. Instead, it is considered an advance on an unpaid invoice. Factoring is a powerful tool that lets you balance your finances during times when cash flow is a concern.