Invoice factoring allows businesses to sell their outstanding accounts receivable invoices at a discount to a third-party (Factor). Once the invoice is paid by the customer the remainder of the funds are remitted to the client within 24 hours minus a nominal fee. Businesses can apply for this service from a provider, such as Seacoast Business Funding. The application and approval process can take as little as one week, depending on receipt of documents. Approval and fees for the service depend on the risk of the transaction, as well as the commercial credit quality of the customers.

A B2B company with outstanding commercial account receivables who relies on payment terms for working capital. B2B factoring provides businesses with immediate access to cash flow, removing the strain of waiting on payments. Many companies need assistance in managing their cash flow, particularly if they have weekly or monthly expenses but invoice on a 30-day or more terms. Seacoast Business Funding serves as a factor funding company for a variety of industries, including manufacturing, staffing, wholesale and distribution, government receivables, and more.

Invoice factoring solutions provide stable working capital to support business operating expenses, payroll, inventory, raw materials, growth opportunities, and cover seasonal fluctuations. Businesses often need to leverage assets to ensure a steady cash flow, particularly during slow seasons. Factoring allows your business to balance inconsistent intervals between work completed and payment received. Seacoast Business Funding’s success stories show that companies value our partnership for its flexibility, reliability and accuracy.

The average time to receive initial funding is typically up to 2 weeks. Once the account is set up funding is available within 24 hours. Partnering with a factoring service company is often much quicker than traditional financing. Instead of evaluating the creditworthiness of the business, the emphasis lies more on the reliability of the company paying the invoice.

An advance rate is the amount of money that a factoring company is willing to provide in relation to the value of the asset. As a rule, funding organizations will not finance 100% or more of the asset, because that creates a higher level of risk for the transaction. Seacoast Business Funding’s advance rates are a percentage of the invoice face value funded upon purchase and can be up to 95%.

Forming a partnership with a factoring company such as Seacoast Business Funding offers several benefits, including:

• No monthly debt incurred which helps improve cash flow.
• Never have to give up equity in exchange for funding.
• Reduce overhead costs with professionally managed receivable services.
• Take advantage of pre-payment discounts and benefit from long-term cost-savings.
• Ability to extend generous credit terms to your customers without negatively impacting working cash flow.
• Peace-of-mind knowing your business has working capital in place to support operations and rapid growth.

At Seacoast, we also offer opportunities to partner with businesses and professionals who serve clients in a variety of industries. Our referral program simplifies the process of helping businesses get the working capital they need.

For more than 30 years, Seacoast Business Funding has formed reliable, beneficial partnerships with businesses in need of working capital and better strategies for cash flow. Our services include a detailed analysis of the business and its needs, as well as a customized plan that provides reliable funding at the right time. To get started with our invoice factoring services, apply online or call us toll-free.