Columbus Factoring Companies for Your Business
Factoring is an ideal funding alternative for businesses of all sizes that need extra cash to meet their everyday expenses while waiting for customers to pay. Instead of waiting 30, 60, or even 90 days to receive payment, working with a Columbus factoring company can put cash in your account in as little as 24 hours from invoice verification!
How Invoice Factoring Works
Invoice factoring is a simple and low-risk process that Columbus business owners can repeat as needed to ensure a healthy cash flow:
- Submit invoices for completed work to the factoring company. They will verify your invoices and deposit a percentage of the face amount into your specified bank account within 24 hours.
- Your customers will pay the factoring company directly; then, the factor will send you the remaining value of your invoices minus their fees.
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Columbus Factoring Provides Easy, Fast and Debt-Free Financing
Unlike conventional lending, factoring your accounts receivable will not create new debt on your balance sheet! In addition, you can use the cash you receive however you need to meet your company’s goals. You can fund payroll; provide health care and other benefits to your employees; engage in marketing campaigns to recruit new customers and talent; catch up on outstanding expenses and take advantage of early payment discounts; purchase new equipment or supplies; or invest in expanding your business without taking out a business loan!
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Factor Finders Knows Columbus, OH Factoring
Factor Finders has an extensive network of Ohio factoring companies that specialize in industries across the board, including (but not limited to) healthcare, retail, manufacturing, trucking/freight (haulers and freight brokers), and telecommunications. Our partners are experts in their industries and can customize the perfect invoice factoring program to help your company succeed. If you’re seeking Ohio payroll funding or a factoring company for your business in Cleveland, Dayton, Toledo or Cincinnati, we can help you find the best factor for your financial needs.
Benefits of Working with a Columbus Factoring Company
• Peace of mind about your company’s cash flow.
• Most accounts approved within 1-3 business days.
• Industry-low factoring rates, so you get more of your money.
• Non-recourse funding available in some industries
• Back office support including credit verification and collections support, saving you time and overhead.
• Get approved even with poor credit.