If you find your small business either strapped for cash or growing at an unexpectedly fast pace, you’ve most likely been looking into funding options. Invoice factoring can be a great solution for you. Here are just a few ways your small business can benefit from using invoice factoring:

It can save your company’s time. When you’re signed up with our factoring services, we take on the responsibility of collecting your customers’ payments. This gives you and your employees more time to focus on other aspects of business.

It provides an opportunity for growth. It can sometimes prove to be difficult to grow a small business when your accounts receivable is delayed. Factoring will free up the money your business is waiting to receive. This means that you’ll have access to more money at time, enabling you to purchase/produce new products, complete more jobs, or expand your business in any other way that you need.

You can receive more money than from a traditional loan. Banks typically have pretty strict requirements when it comes to lending, especially to smaller businesses. Factors will often give you an advance that’s fairly large. Also, depending on how many clients you have, you can factor multiple invoices. This can add up and end up being more money than you would get from a traditional loan. What’s even better is that since factoring is an advance, there’s no repayment, interest, or debt involved.

For more information on factoring, check out some more of our blog posts. If you’re ready to start factoring today, contact us!

Post written by Senior Copywriter “Nikki Wakefield” of CoreFund Capital, LLC.