Janitorial Cleaning companies
can use factoring to finance their businesses.
Factoring is a great way for janitorial cleaning companies to get paid promptly for their services. With factoring.io, you can submit your invoices and receive up to 90% of the total amount within 24 hours. The Factor will then work with your customers to collect any unpaid invoices. As soon as the invoice
Janitorial cleaning businesses can get paid quickly by utilizing factoring.
Utilizing an invoice factoring service for your janitorial business is the solution to ensuring you have the working capital you need to keep every client satisfied. When public and private sector commercial building managers gets your services, Payment delays happen often, but with invoice factoring, you don’t have to worry about them affecting your company’s cash flow.
How Janitorial Service Invoice Factoring Works
Receivables factoring is a straightforward process that exchanges your outstanding invoices for cash you can use to finance your business. Once you’re approved for factoring, you can submit invoices whenever you want to maintain working capital levels. In other words, by selling your unpaid invoices to a factoring company, they will give you money upfront instead of waiting on payments from customers.
Ready to start invoice factoring?
Complete the form or contact us for more information. We’re happy to help!
Here’s what a typical janitorial transaction looks like:
- After completing the work, send your customer an invoice for the job performed. Make a copy of that invoice and submit it to the factoring company.
- Once you complete the work and verify the invoice, The factor will send you up to 90 percent of the total amount promptly, within 24 hours.
- invoice your customers as you typically would and submit those invoices to the factoring company.
- The factoring company will work with your customers to collect any unpaid invoices in the meantime. when got the full payment, the Factor will send you whatever money remains from the original sum minus a little factoring fee.
With the cash you receive from factoring invoices, there are endless possibilities for what you can do with it. Fund payroll, buy equipment or supplies, or hire new employees -the options are nearly limitless! And because factoring is dependent on your sales volume, everything you invest back into your business will only mean more money down the line!
Improve
your business cash flow
Why Factoring.io
Receivables factoring offers a variety of opportunities for your janitorial company to succeed, not just through the immediate transfer of funds. With factoring.io’s nationwide network of experienced partners, you can access the many benefits that come with invoice factoring.
Back office operations
When you allow your janitorial company factor to spearhead your collections, you can save on overhead and staffing costs. The factor will handle customer follow-ups for invoices and payment schedules.
Accept bulk contracts
Quickly paying your suppliers or placing bulk orders often entitles you to discounts, meaning more money stays in your pocket
No long-term contracts
If you are a janitorial cleaning company, invoice factoring may be the best financial solution for you; however, Factoring.io knows that long term contracts might not always be what's best for your tech company. factoring agreements foster short term contracts that can be renewed so long as they are effective and canceled if needed.
Get approved even with poor credit
Janitorial factoring companies primarily focus on your customers’ creditworthiness when making funding decisions for you. As long as the service is being provided to a reliable customer, we will find the right program. Even if traditional bank loans or lines of credit have been declined in the past, this shouldn't disqualify you from qualifying for receivables factoring programs.
Get Started with Invoice Factoring for Janitorial Services
If you want to start getting paid for your janitorial services immediately, then begin factoring. It doesn’t matter if you serve government facilities, commercial buildings, residential buildings, or even schools, as long as you’re billing other companies, then you have a good chance of being approved.
The application process is simple, taking only 3 to 5 business days in most cases. You need the following documents to get started:
- List of outstanding invoices
- Current customer list
- Copies of invoices you wish to factor
- Articles of Incorporation
