Minnesota Factoring Companies in Your Industry
Obtain instant working capital for improvements, growth, payroll, overhead, and other expenses with a Minnesota factoring company. We can pair your business with a Minnesota factoring company that will help improve your business’s cash flow by invoice factoring. Think you won’t be approved? Think again! Factoring works for a variety of business types: start-ups, company’s with bad or little to no credit, even trades that have seasonal and flucuating sales.
It does not matter if your business is in Minneapolis, Saint Paul, Duluth, Rochester, St. Cloud, or anywhere else in Minnesota, we can help you get the cash you need to achieve your goals.
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How Does Invoice Factoring Work?
Factoring is a viable financing option that many people don’t explore. With invoice factoring, a brief approval process usually takes 3 to 5 days. Once your account is established, your Minnesota invoice factoring company will buy your invoices and advance you up to 98% of the total amount–usually within 24 hours! There are no loans to repay or hidden fees. Additionally, you won’t incur anymore debt and will continue to build your own credit! By receiving working capital, you can even take advantage of early pay discounts.
We work with a network of Minnesota factoring companies that specialize in various industries. We match you with one of these companies and assign you an experienced account executive, who will be there to help you through the entire invoice factoring process.
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Give us a call: 855-322-8671
Minnesota Factoring Companies Differ From Banks
Most businesses think of traditional bank loans as their only sources of funding; however, that is not so. Bank loans are difficult to get, and the approval process is a long, drawn out affair that involves extensive credit checks as well as detailed collateral inventories. The process can take weeks or months. Banks seldom approve businesses with poor credit or insufficient collateral. If approved, they usually do not receive all the capital they need.