Invoice Factoring to Ease your Instant Business needs
At EZ advance, invoice factoring helps small businesses by converting the invoices into fast cash loans.
Invoice Factoring Allows for Instant Access to Capital Form Your Unpaid Business Invoices
You only need 2 important things to apply.
Valid
Identification Form
Unpaid invoices from reputable creditors
Application Process
Come to our online gateway to complete the application form. Provide brief information about your business and target aims and objectives. We suggest preparing the paperwork for the process as fast as possible.
Our team will review your application for business financing with professionalism. If the council requires further information, one of our trusted business advisors will reach out.
Our team will send out the approved funds to your business bank account if approved.
What is Invoice Factoring?
Advance Amount
Start at $20,000 and range up to $10 million
Easy Application
Apply and submit your outstanding invoices
Simple Process
Get immediate access to capital on outstanding 30,60, or 90-day invoices.
Factoring invoices is a type of funding that involves selling the issued invoices at a certain amount of money lesser than the face amount in order to be provided cash for working capital.
Most commonly, it may take between 30 to 90 days for most firms to receive payments from their customers; in such situations, invoice factoring enables the small business to be paid cash as and when they need it. The kind of security that the funder will have is that you or your company will make direct collections on any invoice from your customers, or you forward your customers’ check to the funder until the whole advanced amount is recovered.
This means that one of the benefits of invoice factoring is the fact that you shall be in a position to convert outstanding invoices into immediate working capital. Another thing that one must be aware of concerning invoice factoring is that most of the funders will check on a business’ clients’ balance to see if they have a history of paying their invoices punctually.
EZ advance collaborates with numerous funders enthusiastic about providing uncomplicated ideas about easy ways to acquire funds through an invoice factoring service.
Invoice Factoring FAQs
Invoice factoring is a technique of short-term financing that assists your business in converting your business invoices into cash. Essentially, funders will buy off the business’s outstanding invoices at a considerably lower price and avail a business of immediate funds for working capital. The funder will then continue to receive payments consequent to the bought invoices.
This kind of funding is suitable for companies that do not get payments for their goods or the services they have offered at the first instance but receive payments with the credit terms of 30 days, 60 days, or 90 days eligible on their invoices.
The answer depends on funders taking into consideration several factors to facilitate the approval of a business other than credit history. However, it is moderate that most funders rely primarily on the open invoices (and the payment track record of such customers) rather than the creditworthiness of the business. The reason being is that the funder will capture the payments on the outstanding invoices after they buy the invoices from the business. The method of working is not applicable to all the funders and therefore, the nature of purchase of your invoice determines your points earned.
Slightly ensure you are selling invoice that has a good track record of customers’ timely payments. This will give you a higher chance of approval of the loan that you are applying for.
It helps you obtain a quick source of working capital and enhance the cash flow in your business. Also, I must note that invoice factoring is easily approved since the conditions tied to it are more liberal as compared to other factoring forms. Some of the benefits that businesses can leverage include: In the case of invoice factoring, for example, the business can take advantage of the way they are able to spread their cash flow cycles and develop a better relationship with their customers because the latter are able to pay them at a later date.
Each of them has specific conditions that have to be fulfilled. Pertaining to most of the funders, most of them have restrictions whereby the businesses must be B2B, customers with payment records, the business has to be situated and operating in the United States of America, and the invoices have to be the 30, 60, or 90-day period.
Yes. Accounts receivable factoring relates to invoice factoring as the two are subcategories of the same larger category.
Invoice Factoring with EZ advance
EZ advance is committed to offering invoice factoring success to every customer. It is exactly that; we are here to allow small businesses to have invoice factoring whenever they need it. Ensure that you offer your business centers that will enable it to be stable in the future.
- Trusted by over 30 thousand small businesses around the United States of America.
- Simple application process
- Team of trusted business advisors dedicated to offering quick and reliable funding for your business.
- Easier access to additional funding needs.