Mississippi Invoice Factoring Companies
Factor Finders is the leader in invoice factoring services in Mississippi. Our services don’t include just a single organization, but an entire network of Mississippi factoring companies that specialize in different areas. When you use Factor Finders, you can be assured that you’ll be matched with the factor that best fits your individual needs.
Invoice factoring is a great solution for companies that are struggling with stable cash flow. If waiting 30, 60 or even 90 days for your clients to pay their invoices is prohibiting you from being as successful as possible, Factor Finders can help. We’re commited to getting you back on track financially so that you can thrive more and worry less.
How Can Invoice Factoring Benefit My Business?
- Invoice factoring, sometimes known as accounts receivable factoring, is fast–much faster than working with a bank to get a conventional loan. In business, time is money–the more time you wait for slow-paying customers, the more opportunities you lose to expand, take on larger clients, etc. Approval for factoring can take a few as 3-5 business days, and you can get cash within 24 hours after submitting your invoices.
- No more debt on your balance sheet! Factoring companies want to help you suceed and view your accounts receiveables as assets. By selling your invoices, you can build your credit without taking on additional loans that you’d eventually have to pay back.
- No credit checks on your business. Your Mississippi factoring company is primarily unconcerned with your company’s (or personal) credit since your customers are the ones ultimately paying the bills. Therefore, if you’re just starting out and don’t have strongly established credit, or you’ve had some bumps along the way, you can still be approved for factoring.
- It’s flexible! Unlike traditional bank loans, terms and rates are flexible. You’re completely in the driver’s seat–determining which invoices to factor and how often. Moreover, there are no long-term contracts or hidden fees. Our account managers work with you every step of the way to guide you through the process and answer any questions.
- Additional support is available. Let us worry about the paperwork, invoice or payroll processing or any other administrative duties. Our factoring companies are the best in the industry and we work with experts in various industries!
How Does Invoice Factoring Work?
First, Factor Finders will have a discussion with you about what your company does and really get to know what your goals are. Then, after a simple paperwork and application process, we’ll match you with a Magnolia State factoring company that specializes in your market. Once you’re approved for funding, you can begin submitting open invoices! The factoring company will buy them at a discount and advance you 70-98% of the total invoice amount, usually within 24 hours. You get to continue business as normal, while your factor works with your customer directly to receive payment. Once the invoice is paid in full, you’ll receive the reserved amount, minus a small processing fee.
Invoice Factoring Serves Multiple Industries
Mississippi invoice factoring is a very dynamic method of funding that can be used by businesses from just about every sector of the economy. Here is a list of some of invoice factoring’s most frequent patrons: