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Invoice Factoring And Invoice Discounting North Carolina

The Romans were the first civilization to sell promissory notes at a discount, beginning the industry of factoring. America was built largely on the possibilities of factoring, when colonial businesses were factored by Europeans willing to invest cash.

Local Companies

Starting Point Financial
1-888-722-6292
10130 Mallard Creek Rd., Suite 300
Charlotte, NC
Bibby Financial Services
828-654-0354
130 Parkway Crescent
Arden, NC
AR Funding, Inc
704-321-1170
8520 Tower Point Drive
Charlotte, NC
Citifinancial
(252) 747-1106
103 Heritage Xing
Snow Hill, NC
American General Financial Services
(910) 739-7593
4826 Fayetteville Rd
Lumberton, NC
American Equipment Leasing Llc
(704) 599-8711
4134 Statesville Rd
Charlotte, NC
American General Financial Services
(704) 864-4316
3036 E Franklin Blvd
Gastonia, NC
Beneficial Finance Corporation
(910) 864-4242
561 Cross Creek Executiv
Fayetteville, NC
Citifinancial
(252) 793-5041
824 US Highway 64 E
Plymouth, NC
Whiteville Finance Co
(910) 642-6157
603 S Madison St
Whiteville, NC

Invoice factoring is, at its simplest, the sale of the right to collect cash owed on your outstanding invoices. Most businesses engage in invoice factoring when they need cash up front quickly, or when they have customers that are slow to pay and don't have the resources to build an accounts collections department. Though some companies are large and established enough to get accounts receivable financing through a regular bank, it can be handy to have access to invoice factoring companies as well.

Most businesses use invoice factoring to get fast cash. In the intense and fast paced business environment of today, ready cash can be invaluable. With the sale of your invoice futures, you can get the cash today you need to capture customers that will move your business forward.

Invoice factoring is not a loan; rather, it's an outright sale of an asset. Another way of looking at it is as a cash advance: you give up a certain portion of the money you expect to receive in the future in exchange for ready cash today. While some businesses purchase invoices outright, others give you a down payment toward the invoice, paying you the balance less their fee when they receive payment from the customer. One of the best things about invoice factoring is that your credit has no bearing on whether you are approved; instead, your customer's credit qualifies the invoice for factoring.

Many different industries take advantage of invoice factoring, including:

TransportationDistributors
Wholesalers
Staffing and consulting firms
Telecommunications companies
Service providers

Because ready cash is so important in their business, industries that are heavily vested in human services and need to be able to meet payroll are among the best able to leverage invoice factoring. However, any business that generates at least ten thousand dollars in accounts receivable should be able to use invoice factoring, provided they've acquired creditworthy customers.

Other situations that might make invoice factoring a wise choice for you include:

A young company with creditworthy customers, but not sufficient credit history for your own business to be considered creditworthy by banksCompanies with income, credit, or tax problems

Companies that have filed for bankruptcy, but that stand to turn a profit

Companies that are growing too rapidly for ready capital to keep up with business needs Companies that are growing rapidly, but do not have good enough credit to take out bank loans.

Start-up companies with no capital base currently

Companies with seasonal sales patterns or uneven sales patterns

About the Author:

Henry Byers, Retired Accountant and Invoice Factoring advisor at eCPA Group LLC ( http://www.invoice-factoring-discounting.info ) publishes other articles related to Invoice Factoring at http://www.invoice-factoring-hq.com and http://www.accounts-receivables-factoring.info.


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Featured Local Company

Starting Point Financial

1-888-722-6292
10130 Mallard Creek Rd., Suite 300
Charlotte, NC
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