When we talk about providing advances on your accounts receivable, we're referring to debts owed by other businesses. There are very few invoice factoring companies that give advances on consumer invoices. The main reason is due to the legal differences of consumer and commercial transactions. Since accounts receivable financing is based upon the credit-worthiness of your commercial customers, invoice factoring companies just aren't set up to work with consumer issues.
The few factoring companies that do work with consumer invoices have very steep minimums. In fact, you'll need anywhere from $500,000 to $1 million of consumer receivables to work with them.
Need a free quote for invoice factoring? Click here.
Kent Harlan, CPA
Ozarks Capital Funding, LLC
www.ocflink.com
417.849.7394
1 comment:
Factoring is an excellent solution to create the cash flow you need to keep your business growing. You can qualify for factoring even when your trucking company doesn’t qualify for traditional financing. That’s because factoring companies take a different approach to deciding whether your trucking company qualifies for financing.
Source: http://www.accutraccapital.ca/
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