Factoring Companies in Nevada
Although Nevada is world famous for its casinos, one thing that shouldn’t be a gamble is choosing the right invoice factoring company. That is where Factor Finders can help. Nevada factoring companies are a great resource for businesses of all types that are looking for fast, effective funding. Invoice factoring is a reliable way to help your business expand by expediting the process of collecting the money that is owed to you from your outstanding accounts receivables. Whether your enterprise is centered in Las Vegas or Reno, trust Factor Finders to lead you to the best invoice factoring company for your business’s needs.
The Invoice Factoring Process
- A factoring company buys your outstanding accounts receivable, giving you up to 98% of its total value within 24 hours of submitting your open and eligible invoices. This provides you with cash right when you need it, instead of having to wait for your customers to pay. The best news of all is that you never accumulate debt throughout the entire process. By purchasing your accounts receivables from you, your factoring company just gives you your money faster — you never borrow.
- A Nevada factoring company will work with your debtor and collect their payments. Factoring invoices takes the burden of working with your debtors off of your shoulders. Factors handle all of the financing and collecting, while you can refocus your attention on business expansion. Nevada factoring companies generally receive payments from your clients/partners within either 30, 60, or 90 days.
- Once they have collected from your debtor, factoring companies pay you the remaining balance of your previously outstanding accounts receivables, minus a small service fee. Invoice factoring won’t add any more debt to your balance sheet, relieving you of having to pay back loans, collateral or outrageous interest rates.
Why Your Business Should Use Invoice Factoring
One of the many reasons that invoice factoring is advantageous is that nearly every business is applicable for the process. Since Nevada factoring companies collect money from your debtor, it is their financial history that is important, not yours. Regardless of your business history, even if you’ve previously been turned down for a loan, invoice factoring may be a great way to solve any of your financial troubles. When banks say no, factoring companies say yes after a three-day application approval period.
No more debt added to your balance sheet
No loan to repay
No minimum monthly volumes — you get to decide which invoices you factor and when
No long-term contract or commitment
Consistent working capital to use however you please: new technology or equipment, marketing, or new hires, for example
Rebuild your business credit
Get vendor discounts for early payments