Factoring in Indiana
Funding your business shouldn’t be a hassle. We understand that finding secure and safe ways to fund your ventures and investments is far from easy. It is especially difficult to make progress when you are waiting for your customers/clients to pay off outstanding accounts receivables. Waiting for payment can often mean putting your main objectives on the back burner. Taking on larger accounts and new projects can be impossible without enough cash flow to pay for supplies, fund payroll, etc. That is where invoice factoring can help businesses in Indiana. Invoice factoring, also known as accounts receivable factoring, is a no-risk, efficient way to increase your cash flow and get working capital for your business. Contact Factor Finders and get set up with the best factoring companies in the Hoosier State.
Factoring Companies in Indiana Help Businesses Thrive
Invoice factoring isn’t well known, but is an unbelievably easy and effective way to fund a business. Factoring is the process of selling your accounts receivable for a cash advance. If you’ve got invoices sitting in your books, an Indiana factoring company has the cash to buy them. Time is money, after all, and invoice factoring gives your business access to working capital quickly, eliminating the need to wait for slow-paying customers.
How Does Factoring With Indiana Companies Work?
- Once approved, the factor will verify and purchase your outstanding invoice(s), giving you between 70%-90% of its total value within 24-hours.
- The factor works directly with your debtor, collecting their payments in either 30, 60, or 90 days, leaving you to focus on running and expanding your business.
- The rest of your money is released to you once the debtor pays the full invoice, save a small factoring service fee.
Advantages to Factoring Invoices
No more debt
One of the biggest advantages to invoice factoring for Indiana businesses is that you do not accumulate any debt. The money that the Indiana factoring company gives you is your money. The factor purchases your outstanding accounts receivable, so in essence, they are just giving you the money that you are due from your business transaction sooner than you would have received it ordinarily.
No more collections
Another distinct advantage of invoice factoring is that it eliminates the need for you to badger your clients and customers to make their payments to you on time. The factor assumes the responsibility of collecting payments from your debtor. Factor Finders will match you with Indiana factoring companies that have a long history of professionalism, customer satisfaction, and renowned business etiquette. If any additional office duties are needed, your assigned account manager will be able to assist!
Cash within 24 hours
Despite the fact that this probably goes without saying, the biggest plus side to invoice factoring in Indiana is that you are given access to fast cash that you can reinvest in new endeavors. Set all of your attention to growth, and get the cash that you need to make your business meet your goals.