New Jersey Invoice Factoring Companies Can Help Grow Your Business!
Why choose a New Jersey factoring company to meet your business goals? Factoring services support businesses that need extra working capital to meet strategic growth goals. Invoice factoring benefits a wide range of industries and offers a unique combination of high advance rates and same-day funding that fosters business growth.
Factor Finders works with a network of New Jersey factoring companies that extend credit terms to businesses through a process known as invoice factoring. NJ factoring companies advance cash to organizations based on their eligible accounts receivables. Business owners can acquire quick cash by factoring invoices – without adding debt to their balance sheets.
Factoring Companies Offer Businesses More Freedom Than Banks
Small business owners often face strict requirements when applying for bank loans. Startups and young companies hardly ever get approved for bank funding. Corporations with a proven track record may secure a small business loan, but they will almost never get approved for multiple loans or lines of credit that provide growth.
In general, banks have little incentive to meet the additional borrowing needs of companies. A bank loan can take 30-90 days to process and take effect. Banks also take into account your credit and can possibly hold your business and personal assets as collateral. Invoice factoring companies will never resort to such measures.
How Does Invoice Factoring Work?
- Once you’re connected with the best factoring company for your financial needs, they’ll send you an application and review their program. The application can be processed in as few as 3-5 business days.
- After approval, you can submit the invoices you’d like to factor! Submit as many or as few as you’d like — there are no monthly requirements or volumes.
- Your factor will verify the invoices and can then advance you up to 95% of the invoice. You’ll receive cash within 24-hours!
- Your factor will work directly with your debtor to collect the invoice. Once paid, the factoring company will release the remainder of the invoice back to you, less a small factoring services fee.
Why Work With Factor Finders?
It’s easy! Working with us makes your task of finding the perfect invoice factoring company easy. We’ve been matching small businesses just like yours with invoice factoring companies for years. Sorting through all of the options can be cumbersome and overwhelming–let us help. We take the time to get to know you and your business and determine how invoice factoring could help you grow. Then, we’ll connect you with the factoring company that we know will be the best fit for you and your company.