Invoice Factoring for Vermont Businesses
Are you struggling with cash flow issues in the Green Mountain state? Whether you are a health care company, staffing agency or transportation firm, Factor Finders can help you obtain the funding that you need via invoice factoring.
Many businesses in Vermont try to obtain conventional bank loans, and are unable, because of bad credit or lack of required tangible assets and equipment. If a business does receive financing from a bank loan, it often falls short for the needed capital.
Vermont factoring companies can help you with your cash flow needs.
Benefits to Invoice Factoring
- It’s fast! Most bank-backed loans can take weeks or even months to finalize. You can be set up for invoice factoring in less than a week and on your way to working capital within 24 hours of submitted invoices.
- You can build your own credit. Invoice factoring is a great solution for businesses with not-so-great credit because it relies more so on the credit of your debtors, since they are the ones ultimately responsible for the paying the invoices. Since you’ll have free cash flow once the factoring company buys the invoices, you can do with it what you please, including payoff prior debts.
- It’s flexible! There are no long-term contracts or monthly minimums. Programs are customizable to what works for you and your business. You get complete control as you decide which customers/invoices you factor and how often.
How Does Invoice Factoring for Business Work?
Whether you are a seasonal business or a business with many “slow-pay” clients, Factor Finders can help you turn those open invoices into the cash you need.
Here’s how it works:
- First, you’ll be matched with an invoice factoring company that fits your needs
- They will buy your invoices at a discount and advance you funds on those invoices in as little as 24 hours
- The factoring company will work your debtor to pay the invoices with the terms you already have in place
- Once your client pays, your account manager will release the remaining balance, except for a small factoring fee
We do not need any credit checks from you; instead, we check your customers’ creditworthiness. We do not require extensive and laborious paperwork in order to obtain approval for funding. Once approved, there is no loan to pay. Initial approval may take 3-5 business days; however, once you have an established relationship with Factor Finders, we can get you funding in less than a day.
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Invoice Factoring for Various Vermont Industries
Factor Finders realizes that your business is as unique as your location. We get to know you, and we work with you closely to match you with the best factoring company to suit your specific needs. We work with a network of credible and reliable factoring companies, and we have access to over $3 billion worth of funding.