What is invoice factoring?
Invoice factoring is a type of financing based on accounts receivable. Many businesses struggle with cash flow when their customers pay late, but invoice factoring finance can close the gap and help businesses have access to cash. In an invoice…
Read moreWhat kind of businesses qualify for invoice factoring?
To qualify for invoice factoring, your business must meet the following requirements: Business must be in operation for at least 3 months You must have a personal credit score of at least 530 Business must generate at least $10,000 in…
Read moreWhat kinds of invoices are accepted?
Our lenders accept invoices that meet the following requirements: The service or product was completed, delivered and accepted by your customer The customer is based in the US or Canada (English speaking provinces) The customer is a business and not…
Read moreWhat if my customer is unable to pay?
In circumstances where your customer is unable to pay the invoice, your business will still be responsible for settling your balance. You can make direct payments through your lender’s website, or for convenience’s sake, you can enroll in an installment…
Read moreIf the bank turned me down for a loan, can I still qualify for invoice factoring?
Unlike the bank, our requirements for invoice factoring financing is not solely dependent on your credit score. For this reason, even if you were turned down for a bank loan, your business may still qualify for invoice factoring. Although your…
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