Why Use factoring?
There is no shortage of reasons why businesses need cash. Factoring provides cash and does it in a way that has some advantages over traditional bank financing. Some of those reasons include:
- Approval and funding within 48 hours
- No monthly payments
- Free monthly accounts receivable reporting
- Your "credit line" grows with your business
- No debt is created on your balance sheet
- No need to give up equity
- Allegiant will provide you with credit assessments of your customers
- By having immediate cash, your company can take early payment discounts, pay bills, payroll and taxes, and use the funds in a variety of other ways to increase profit margins. It's as if all your customers were on C.O.D. without the accompanying limitations.
GROW YOUR BUSINESS.
INCREASE YOUR CASH FLOW.
About Factoring
Factoring companies purchase your accounts receivable invoices and advance up to 90% of the value - all within 48 hours.
Once the invoices have been paid by your customer, the factor will refund the balance due back to you, less the factoring fees.
Here are some of the BENEFITS of factoring:
- You can fund the growth of your business without incurring new debt. Factor one invoice or as many as you need; your factoring ‘credit line’ grows with your business.
- Get the scoop in advance! Receive free credit analysis on your customers and make more informed financial decisions.
- Pay no up front factoring fees or monthly payments.
- Work with an in-house Account Executive. Factoring companies provide you with a high level of personal care and customer service. Let the experts do what they do best!
- Take advantage of supplier discounts.
- Fund new marketing campaigns.
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* Factoring fees range from 1% to 4%
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