Keep Your Business Afloat
with Accounts Receivable Financing
The Best Cash Flow Solution for Service Providers
At Factoring.io, we understand that service providers often have a difficult time getting paid in a timely manner. We’re here to help close your cash flow gap with our invoice factoring providers!
Many businesses choose to outsource specific tasks that don’t need full-time attention to professional service providers, as it is more cost-effective than hiring an in-house team. tenders and contracts with large companies are lucrative, they might not provide you the liquid assets you need if their budget is inconsistent or if they don’t pay in a timely manner. If you can meet a bank’s strict approval criteria, then perhaps taking out a loan is an option. Yet, fledgling businesses or those with past money troubles probably won’t qualify for such loans since they don’t have enough collateral to back up the account.
How can service providers use invoice factoring?
Fortunately, service providers have a viable option for financing their invoices – invoice factoring! With invoice factoring, the invoices themselves are used as the basis for advancing funds.You can receive up to 90% of your invoiced value immediately once you are approved for business factoring, with a reserve payment held for the remainder until the factor collects.
- Submit invoices for work completed
- Within 24 hours of verifying your invoices, the factoring company will advance you money.
- Your clients will pay the service company that provides factoring services directly.
- Minus a small factoring fee and the rest of your invoice value will be sent to you.
Ready to start invoice factoring?
Complete the form or contact us for more information. We’re happy to help!
Factoring Offers
Service Providers
Simply access to cash
Factoring for service providers is more than just a way to improve your working capital – it’s a complete business support system. some of the other advantages of using these services include:
Low rates:
With Factoring.io, you may be eligible to receive some of the lowest factoring rates in the industry for your invoices! Our qualified service providers could see rates as low as 1.59 %!
Quick approval:
You can be approved for factoring in as few as 3 to 5 business days, which is a shorter amount of time compared to the lengthy qualification process for a traditional loan!
Approval with even bad credit:
If you're a service provider struggling to get your business off the ground or keep it afloat, If your credit score isn't where you want it to be, don't worry our unique form of funding means that we base our decisions on your clients' creditworthiness instead. You might still be approved even with a low credit score.
Same-day funding:
When you factor, you can get your cash transferred to you on the same day. In some cases, your factor may offer next-day transfers for a lower fee.
Unlimited funding
Service providers that invoice between $5,000 and $10 million can receive funding through our customizable packages. The package you qualify for is based on the total volume of your invoices – meaning the more work you do, you can get a big amount.
Credit building:
The cash you receive can be used for whatever your business needs, which may include expenses or paying off debt to improve credit rating.
Low operating costs:
Our factoring services have no up-front costs. This makes it easy to include the cost of our service on your balance sheet. You can submit invoices as needed and we will provide funding for them, so you always maintain a positive cash flow while keeping control over your expenses.
When you have easy access to working capital, you can also save time and money by ensuring your creditors are paid on time. A factor company’s complimentary credit checking and collections services will also free up more of your valuable time so that you can focus on other areas of growth for your business.
Get Started
A list of customers/invoices you’d like to factor
Articles of Incorporation, Articles of Organization or DBA filing
A short application
A current accounts receivable aging report
Service Provider Factoring can benefit any business in the service industry.
If you offer professional services to other businesses, you can get immediate cash by factoring your invoices.
- Engineers
- Educational Service Providers
- Business Consultants
- Architects
- Actuaries
- Accountants/CPAs
- Attorneys
- Temporary Staffing Companies
- Security Guard Firms
- Public Relations Agencies
- Marketing Firms
- Janitorial Services
- IT Service Providers
