Take your business to the next level with accounts receivable factoring for Services Companies.
We offer factoring services for start-ups and well-established service providers to help them manage their cash flow and cover essential expenses.
Invoice Factoring for Service Firms
Invoice factoring can be very beneficial to services companies. Companies that offer services to commercial businesses cannot usually pledge tangible assets to banks as collateral for a traditional bank loan. This, unfortunately, means service providers are often denied the loans they need or are approved, but with limited funds to supplement their working capital. Invoice factoring companies offer an alternative financing solution that is substantially easier to get approved for.
- Factoring invoices means quick cash: Consulting companies would be able to receive cash for their outstanding invoices right away, instead of waiting 30 to 90 days for an invoice to pay. The invoice factoring process allows businesses to receive funds in as little as 24 hours.
- Invoice Factoring means no need for a bank loan: To get the funding they need, many companies rely on bank loans. Many consulting firms are not eligible for the funding they need to grow. Invoice factoring is possible even for businesses with a bad credit history or who have been around for a very short time.
- Factoring invoices means support services: Charter Capital will collect the unpaid invoices via letter or a phone call if necessary. We will then return the balance to the company we purchased the invoices from, minus a small fee.
Benefits of Selling Accounts Receivable With a Factoring Company
The use of factoring services will allow you to extend generous payment terms to your customers and still obtain cash to accelerate growth and profits–all without having to take out a loan.
Charter Capital factoring allows you to obtain cash to:
-
Add more employees
-
Pay outstanding debt or tax obligations
-
Beef-up sales efforts
-
Finance Acquisitions of other consulting firms
-
For meeting operating cash obligations like payroll
A dedicated account executive and the use of our back-office support for collections and mailing out your invoices sometimes offset the factoring fees or decrease internal overhead and related costs. We are seasoned professionals with decades of industry experience.
Find Out Why People Say Charter Capital is the Best Factoring Company
Is Factoring for Service Providers the Answer For Service Industries?
We Understand Your Cash Flow Issues
Invoice Factoring from Charter Capital can provide the financing for your business needs, grab new opportunities, invest in marketing, meet payroll demands, or simply meet other expenses.
Charter Capital provides steady cash flow with accounts receivable factoring to service and consulting firms. This allows you to focus on your business growth.
Why Service Companies Benefit from Invoice Factoring
Service companies face unique challenges when it comes to maintaining steady cash flow. Unlike product-based businesses, they often rely on timely payments from clients to meet operational costs. However, client payment delays can create cash flow gaps, making it difficult for service providers to cover critical expenses such as payroll, rent, or marketing investments.
Invoice factoring is a great solution for these challenges. By converting outstanding invoices into immediate cash, service companies can avoid disruptions caused by slow-paying clients. This form of financing is particularly valuable for businesses that lack tangible assets to use as collateral for traditional financing, such as a business loan. With factoring, service companies can secure funding based on the creditworthiness of their clients, rather than their own financial history.
Additionally, invoice factoring helps businesses streamline operations by outsourcing receivable collections. Many factoring companies specialize in non-recourse factoring, which shifts the risk of non-payment from the business to the factoring company. This allows service providers to focus on delivering quality services instead of worrying about delayed payments. By bridging cash flow gaps, invoice factoring enables service companies to remain competitive and pursue growth opportunities with confidence.
