Arizona Factoring Companies For Small Businesses
Cash flow can dry up for a number of reasons: a seasonal slump in sales, restructuring, and even a rapid increase in sales. Arizona businesses can secure the working capital they need without going into further debt or closing their doors. How? By starting an Arizona invoice factoring program.
AZ Businesses Can Get the Funding They Need
Arizona invoice factoring companies help businesses throughout the state, from the Phoenix metro area, to Tucson, and beyond. Get the cash you need when you need it and with far fewer requirements than traditional lenders.
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How Does Arizona Invoice Factoring Work?
Invoice factoring is based on your generated sales to other businesses. When you issue an invoice, submit a copy of the invoice to the factoring company for review. The factor will approve your invoices and advance 70% to 98% of their face value within 24 hours. Advances are deposited into your bank account via wire or ACH transfer. To qualify for factoring, invoices must be current (not past due at the time of factoring), unpaid, and payable by other businesses. The Arizona invoice factoring company will work directly with your customers to collect outstanding invoices according to your established terms. When they collect in full, you will receive the discounted invoice amount minus a small factoring fee. Best of all, Arizona invoice factoring companies base their funding decisions on your customers’ credit ratings, so you can not only qualify for funding with little or no business credit, but also build your company’s credit by paying down existing debt with funds received from factoring.
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Arizona Invoice Factoring For Any Industry
Factor Finders’ Arizona invoice factoring specialists have years of experience offering customized, comprehensive factoring services to businesses that perform a variety of operations. Start-ups looking for funding, companies recovering from a difficult financial period, and businesses poised for rapid growth can all use Arizona invoice factoring to reach their business goals.
Arizona factoring companies serve the following industries:
Benefits of Choosing an Arizona Invoice Factoring Company
An Arizona invoice factoring relationship can transform your business with the support that your account managers offer at every step of the process. From easy application and invoice submission to fast funding and back office support, invoice factoring in Arizona is a whole-business solution.
Your factoring company will offer invoice management and carefully targeted collections efforts, in addition to background and credit checks on your current and prospective customers, as part of your factoring program. Online reporting allows you to monitor your account status any time, from anywhere.
Arizona Invoice Factoring is Better Than a Bank Loan
Perhaps you have considered taking out a small business loan to cover your operating expenses. That may not be your best option, however. Why not choose Arizona invoice factoring instead?
First, invoice factoring is not a loan. You do not have to pay back the money you receive through factoring, nor is there interest accrued on the invoice amount. Factoring also does not create a line of debt on your balance sheet. Moreover, while the approval process for a small business loan is lengthy and requires a significant investment of time and paperwork on your end, an Arizona invoice factoring account can be set up for funding in as little as 3 to 5 working days with just a short list of required documents.
Finally, start-up companies and companies with poor business credit are often turned down for bank loans due to stringent qualifications. On the other hand, you can be approved for invoice factoring as long as you are working with reliable, creditworthy debtors – your business and personal credit do not matter! In fact, you can actually improve your business credit by paying down prior debt with the funds you receive through invoice factoring.