7 Intangibles Set the Best Invoice Factoring Companies Apart

Characteristics of the Best Business Invoice Factoring Companies

Apart from factoring rates and advance amounts, what factoring companies do – the services they provide – are basically the same from Factor to Factor. Though we help clients get low factoring rates and high advances with free same / next day funding, we believe it’s the things you don’t see – the intangible qualities which set business invoice factoring services apart from the rest – that help our clients the most.

Investopedia describes intangible assets as items which don’t exist in the physical sense, yet “are valuable because they represent potential revenue.” When comparing business invoice factoring companies rates and fees, it’s important to remember that the value they add in the way they do business and how they treat their clients could impact your bottom line, too.

7 INTANGIBLES THE BEST BUSINESS INVOICE FACTORING COMPANIES PROVIDE

Speed

The goal of business invoice factoring is to speed up cash flow, and it doesn’t get much faster than same / next business day funding — especially when funding is free, which means you won’t get nicked for an add-on fee that increases the cost of factoring invoices.

We connect clients with factoring companies that work fast and respond quickly, whether pushing your schedules through for funding, reviewing a new customer or yours or providing you with a credit report so you can vet new customers and set limits. We know that the faster they work, the more they can help you grow your business.

Savings

Some business invoice factoring companies advertise low factoring rates, then charge add-on fees in order to increase their revenue. Unfortunately, all of these additional fees reduce your profits.

The best factoring companies want to help you grow your company to the next level, so they choose to eliminate hidden invoice factoring costs that reduce your profits, from the application process to schedule processing. We help clients get factoring contracts that have:

• Program transparency – no hidden fees
• No application or due diligence fees
• No charge for processing your factoring schedules or notifying you that the work has been done or your account has been funded

In addition, a good factor will work with you to tailor a factoring program so that it’s well-suited to your company’s financial needs; with:

• Low factoring rates starting at 1%
• High advances – up to 98%
• Fast same / next day funding

Trust

Some business invoice factoring companies lock you into contracts for the long term with penalties and lengthy auto-renewal clauses. Not the ones we work with!

The best business factoring companies want to earn your trust, long term business and referrals through  performance. They don’t require factoring clients to sign long term contracts, nor do they have factoring minimums. You stay in control so that you can always do what you think is best for your business.

Partnership Service Mentality

We want to help you do more business, so you can grow your company to the next level. From the way we’ve chosen top factoring services that will keep you in control, to fast approvals and dedicated account managers who understands your needs and preferences. We want to help your business become more profitable and grow.

A “Yes” Culture

We know every business is much more than a credit score or an asset list. Whether evaluating your application for business invoice factoring services or a potential new customer, credit limit or rate request, the best business invoice factoring companies look for reasons to say “yes!” and say yes quickly.

Added Value

Our factoring partners want to work with you to tailor your factoring services. You’ll have a dedicated account manager who understands your business goals. In addition, they will add value whenever possible throughout our company, giving you added value in the form of:

• Access to credit reports to help you vet new customers and set limits
• Manually performing free credit checks to help you vet new customers for business opportunities – whether you will factor their invoices or not!
• Manual credit reviews if a higher approval amount is needed
• Hundreds of articles and tools on our blog to help with business growth, many specific to your industry

Savvy

Collectively, the factoring companies we connect our clients with have decades of experience in business invoice factoring. They put their knowledge and skills to work on behalf of factoring clients day in and day out, helping to spot potential problems before they adversely affect your business. Their experience also provides  insights that lead to faster approvals and debtor credit ratings – experience they would love to put to work for you.

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