How Our New Rates on Invoice Factoring Can Help Your Business

How Our New Rates on Invoice Factoring Can Help Your Business

If your business needs a cash infusion, invoice factoring may be an excellent solution. Through invoice factoring, your company will be able to sell a portion of its sale invoices without having to worry about additional requirements, such as a high credit rating. Invoice factoring is now being offered at rates as low as 0.7 to 2.0 percent, making it an affordable way for a business to get more breathing room.

The Process of Invoice Factoring

In invoice factoring, a business sells some or all of the invoices that it has not yet collected. The third party company gives the business money for these invoices and then collects on the invoices themselves. The business is no longer responsible for the invoices once they have been sold.

The Advantages of Invoice Factoring

  • No credit rating needed. Because invoice factoring operates based on sales revenue rather than credit, a business doesn’t have to show anything except for its invoices. The business also doesn’t need to sell all of its accounts receivable; it can sell only the accounts that have closed or that have been difficult to collect on.

Invoice factoring offers low rates because it is the purchase of an actual asset that the company has simply not yet collected. The actual rate will depend on how easy the accounts involved will be to collect, ranging from the age of the debt to the individual amount of the debt.

  • Fast financing. Invoice factoring can be completed quickly. A factoring company will assess the value of the invoices in question and then charge a percentage for administration. The company will then make an offer which can be taken for immediate cash. The company will no longer need to collect on their own.
  • Reduced administrative costs. Rather than having to collect on your own account, the invoice factoring can do it for you. You can get cash today by selling your accounts off, especially hard to collect accounts that may not have value to your business.

New Low Rates Available Now

Invoice factoring offers low rates because it is the purchase of an actual asset that the company has simply not yet collected. The actual rate will depend on how easy the accounts involved will be to collect, ranging from the age of the debt to the individual amount of the debt. Either way, it will be far more affordable than a traditional loan or cash advance.

Invoice factoring is the financing option of choice for businesses that want to keep their costs low or businesses that need to get a loan without an established business history or credit rating. For more information about invoice factoring and our new, lower rates, you can contact us at MY Company Funding. We can walk you through the financing options and the application process. We’re here to help get your business the funding it needs.