Is your Ohio-based business struggling to make payroll, or growing so quickly that your insufficient working capital forces you to turn down potentially lucrative business? Ohio invoice factoring may be the solution you’ve been looking for. Whether your business is in Columbus, Cleveland, Cincinnati, Akron, Dayton, Toledo, or any place in between, it’s time to get the funding you need by partnering with an invoice factoring company in Ohio.
Ohio Invoice Factoring Companies For Small Businesses
Invoice Financing in Ohio
Also known as accounts receivable financing, the premise of invoice factoring is simple. A factoring company purchases your invoices at a discount and advances you the cash within 24 hours. Factoring advances are typically between 80-95% of the invoice amount. The remaining amount is held in a reserve account. When your customers pay in full, the discounted amount is returned to you minus a small factoring fee.
With Ohio invoice financing, you have no loans to repay and no debt on your balance sheet. You borrow only what you need when you need it. Factoring invoices affords you the opportunity to take advantage of vendors’ early pay discounts, make payroll, or accept more profitable contracts. Additionally, factoring approval is based on the credit worthiness of your customer, not you.
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Benefits of Invoice Factoring for Ohio Companies
The process to begin factoring is short and sweet. After approval, funding begins within 1 business day. Funding will be provided within 24 hours and you’ll receive up to 95% of the invoice total. Whether you’re a start-up or stumbling business, invoice factoring offers your Ohio company the opportunity to build your credit and grow your business. There are no hidden fees and we work hard to get you the most competitive factoring rates in the industry. There’s no minimum volume required to begin factoring or long-term commitments required. Factoring is a fast and flexible way to fund your Ohio business.
Factor Finders offers Ohio businesses a unique approach to financing. We take the time to learn about your company, and when we are confident that we have all the information we need, we match you the best factor for your unique needs. Simply tell us what you’re looking for and we do our best to help you get it. We work with factoring companies in Ohio and all over the nation to find you the best fit.
Factor Finders, LLC is based in Cleveland, OH, so we understand the challenges businesses face in the Buckeye State. If you’ve been struggling to get approved for a bank loan, don’t worry. It’s likely you’ll be approved for invoice factoring.