Rhode Island Invoice Factoring Companies
If your business struggles with insufficient working capital, we can help you get the financing that it requires by invoice factoring! We have helped numerous businesses in Rhode Island obtain the funding they desperately needed in order to be successful by matching them with Rhode Island factoring companies.
If your business struggles with these challenges, Rhode Island factoring companies can help you.
- Poor credit or no credit
- Dips in sales
- Seasonal sales
- Fast growth
- Slow paying customers
Rhode Island Factoring Versus Traditional Bank Loans
Traditional bank loans serve their purpose; however, the approval process is long, tedious, and often involves a detailed credit check. Banks also require applicants to supply collateral, such as machinery or equipment. The application process can take weeks, or even months. Often, banks do not approve certain businesses, and if they do, they might not approve enough funding. Additionally, the business has a loan to repay, as well as a negative item on its balance sheet.
EZ Invoice Factoring will pair your business with a reputable Rhode Island factoring company that will buy your open invoices at a discount and forward the cash to you. They bill your customers according to their terms and when paid in full, the remainder of the discount is returned to you, minus a small fee.
The Benefits of Invoice Factoring in Rhode Island:
- Simple application
- Approval process is quick, usually within 3 to 5 business days
- Funding is within 24 hours
- No loan to repay and no debt on your balance sheet
- Flexible terms
- No hidden fees
We offer our clients a unique proposition. We work with a network of Rhode Island factoring companies who are skilled, reliable, and knowledgeable in a variety of industries and trades. We strive to understand your business and match you with a specialist who we believe will most benefit your business. Your specialist will be there to guide you through every step of the invoice factoring process.