Factoring
A factoring company, also referred to as a factor, specializes in acquiring outstanding invoices, a process commonly known as factoring of accounts receivables, and offers rapid payment, often within 24 hours. They assume responsibility for collecting payments from your customers, sparing you from debt, laborious procedures, and potential impacts on your business and personal credit.
- No Setup Fees
- No Additional Fees
- Next Day Payments
- Never any Financial Liability after Invoice is Purchased
- About the same as a credit card processing fee or less
We specialize in any industry factoring excluding construction. Our specialties are:
- Transportation and Logistics
- Healthcare
- Manufacturing
Business Runs on Positive Cashflow!
Cash flow difficulties can quietly undermine businesses, regardless of their robust foundations. Research by U.S. Bank reveals that a significant 82 percent of business failures can be attributed to inadequate cash management. To shield your business from this perilous risk, invoice factoring serves as an excellent defense against cash flow constraints and delayed payments.
Understanding the Invoice Factoring Process
Although your company may be intrigued by invoice factoring, the best approach to assess its suitability involves acquiring a thorough comprehension of the invoice factoring process. Reputable factoring companies endeavor to simplify this process, minimizing disruptions to your business operations. However, it's essential to beware of certain factoring companies that impose hidden fees, only pay a portion (typically 80-90%) of the invoice upfront, and may not retain the invoice if it remains unpaid for a specific duration. Whenever feasible, it's advisable to steer clear of such factoring companies.
To the right side is a visual representation outlining the straightforward steps of the invoice factoring process.
Interested in our services? We’re here to help!
We want to know your needs exactly so that we can provide the perfect solution. Let us know what you want and we’ll do our best to help.
Waynesville, NC 28785, United States of America
(828) 421-7991
info@burrisadvisory.com