Factoring makes cash immediately available to keep cash flow steady. Invoice processing service. You can greatly reduce your cost of processing invoices because factors handle much of the work. A good factor can handle collections more professionally and more productively than you can internally. This could translate into further cost savings for your business.
Factoring is easy and fast.
No tax returns, personal financial statements, business plan, projections, etc. are necessary to process a factoring application. Usually, within about one week of receipt of signed contracts, your account is established. Thereafter, accepted invoices are converted to cash within 24 hours. Bureaucracy prohibits banks from processing that fast.