With invoice factoring, you can receive payments on the same day that you issue an invoice. You agree to these terms to win a contract, but find yourself facing a financial crunch when your invoices aren’t paid on time. One of the biggest challenges facing staffing companies is clients that expect extended payment terms. Invoice factoring allows you to receive payment the same day that you submit an invoice. Without sufficient cashflow, it’s a challenge to keep your company working at full capacity. Transportationįrom insurance to fuel to payroll, managing a transportation business is anything but easy.
We’re here to answer your questions so you can make an informed decision. Here’s a list of the most common, but you can always contact us regarding your company and industry. INDUSTRIES WE SERVE IN CALIFORNIAĪt REV Capital, we serve companies in various industries. This allows us to provide our clients with a “full scale” invoice factoring solution. We have the knowledge, experience, and team necessary to help our clients with all their cashflow needs.Ĭurrently, we support thousands of businesses with our invoice factoring services. We’re committed to providing high-quality invoice factoring services to clients throughout the state of California. With a contract in place, you can rest assured that we’ll provide you with reliable service at all times. This minimizes your risk.Īlong with the above, we take great pride in our reliability.
No collateral: Invoice factoring is not the same as a business loan, so there’s no requirement to provide collateral.Invoice factoring allows you to pass off this task, thus saving you time and money. Save time and money: In-house collecting can be both costly and time-consuming.This gives you the cashflow you need today. Your factoring company pays you directly and immediately upon submitting invoices. Increased and immediate cashflow: There’s no waiting and hoping that your clients pay your invoices on time.With invoice factoring, you gain access to various benefits including: Submit your invoices to us and we’ll instantly advance your funds and handle collection from your client, freeing you up to do what you do best – grow your business. Per our website, here’s a definition of how our invoice factoring process works: RELIABLE INVOICE FACTORING SERVICES IN CALIFORNIA We have thousands of clients throughout the state, as well as the rest of the country (and internationally). While we’re not the only factoring company in California, our history speaks for itself. Regardless of revenue, company size, or industry, it’s our goal to provide you with the service you deserve. Each time the factor performs this check, it may charge the business a due diligence fee, which typically ranges in cost from a few hundred dollars to several thousand.At REV Capital, we’ve been a leading provider of California factoring services for more than five years. Sometimes, a factor will check into the reliability of a business’ clients beyond face value (e.g., the clients’ creditworthiness, whether they have any liens against them, etc.). If a business owner signs a long-term contract and desires to terminate their invoice factoring agreement, there may be cancellation or termination fees, which will typically run a business a small percentage of their credit line. Many factoring companies charge businesses a (usually monthly) fee to keep their accounts running and open. If a business produces less than ideal results after a credit check, factors may require that business to commit to submitting a minimum monthly invoicing amount or charge additional fees. The fees depend on a variety of factors, such as the creditworthiness of your business and your clients, the number of invoices you plan on submitting for financing, and even the type of industry your business is in.Ī typical factoring fee is, however, between 0.05% and 4%.
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