New to Factoring?

For those who aren't familiar with factoring, it is basically a fast way to get cash to run your business.

Factoring is Not a Loan

When you send your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.


Factoring Doesn't Require Debt

Sounds simple enough – fast cash for your business – no loans, no debt.

So how do you go about choosing the best factoring company?

Not all of them are created equal. Not all of them will give you the same level of service you need to help grow your business.

Everyone claims they have the simplest rate structure in the industry, no long-term contracts, same day funding, no up-front fees, no monthly minimums or maximums, etc., etc., etc.

We also offer these same benefits, but we GO THE EXTRA MILE FOR YOU that other factoring companies don’t.

Here’s Why We Are The Factoring Company You Need For Your Business

No other factoring company matches our level of superior service and offerings.


As you can see, we simply have more to offer you.

Other factoring companies don’t even compare.
Salt Lake City

And Not All Factoring Companies Can Say This:

More than half of our new business comes through client referrals.

So, Can Your Company Use Factoring?

Of Course! Companies of all sizes, from small privately-owned companies to large multi-national corporations, use factoring as a way to increase their cash flow. Factoring spans all industries, including trucking, transportation, manufacturing and distribution, textiles, oil and gas, staffing agencies and more.

Companies use the cash generated from factoring to pay for inventory, buy new equipment, add employees, expand operations—basically any expenses related to their business. Factoring allows a company to make quicker decisions and expand at a faster pace.

Unlike a bank loan, factoring has…

  • No principle or interest to pay over time
  • No debt to repay
  • Unlimited funding potential – no caps
  • Fast funding – no waiting months like at a bank
  • Approval is based on the strength of your clients, not your credit
  • Startups are welcome in using funding services

Some of the benefits you receive with factoring are:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of Salt Lake City

"

Salt Lake City, often shortened to Salt Lake, or SLC is the capital and the most populous city in the state of Utah. With an estimated population of 191,180 in 2013, the city lies in the core of the Salt Lake City metropolitan area, which has a total population of 1,140,483 as of the 2013 estimate. Salt Lake City is further situated in a larger urban area known as the Salt Lake City Provo Ogden, UT Combined Statistical Area. This region is a corridor of contiguous urban and suburban development stretched along an approximate 120 mile (190 km) segment of the Wasatch Front, comprising a total population of 2,389,225 as of 2013. It is one of only two major urban areas in the Great Basin (the other being Reno, Nevada), and the largest in the Intermountain West.The city was founded in 1847 by Brigham Young, Isaac Morley, George Washington Bradley and several other Mormon followers, who extensively irrigated and cultivated the arid valley. Due to its proximity to the Great Salt Lake, the city was originally named ""Great Salt Lake City"" the word ""great"" was dropped from the official name in 1868 by the 17th Utah Territorial Legislature. Although Salt Lake City is still home to the headquarters of The Church of Jesus Christ of Latter day Saints (LDS Church), less than half the population of Salt Lake City proper are members of the LDS Church today.

 

Immigration of international LDS members, mining booms, and the construction of the first transcontinental railroad initially brought economic growth, and the city was nicknamed the Crossroads of the West. It was traversed by the Lincoln Highway, the first transcontinental highway, in 1913, and presently two major cross country freeways, I 15 and I 80, intersect in the city. Salt Lake City has since developed a strong outdoor recreation tourist industry based primarily on skiing, and hosted the 2002 Winter Olympics.

 

It is the industrial banking center of the United States.[10]The modern economy of Salt Lake City is service oriented. In the past, nearby steel, mining and railroad operations provided a strong source of income with Silver King Coalition Mines, Geneva Steel, Bingham Canyon Mine, and oil refineries. Today the city's major industries are government, trade, transportation, utilities, and professional and business services. The city is known as the ""Crossroads of the West"" for its central geography in the Western United States. The daytime population of Salt Lake City proper swells to over 315,000 people, not including tourists or students.[80]

 

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Information for the state of Utah

Cultivated land, including isolated farms in river valleys and considerable dry-farming acreage, is limited to a small percentage of the state's total area. Major crops are hay, corn, barley, and wheat, but the bulk of income from agriculture comes from livestock and livestock products, including sheep, cattle, dairying, and an expanding poultry industry. Abundant sunshine provides some compensation for inadequate rainfall, and the climate is generally moderate, allowing for substantial fruit production. The proximity of high-grade iron, coal, and limestone made Provo a steel center. Industrial plants extend from Provo to Brigham City, with the largest concentration in the Salt Lake City area. Utah is now a center for aerospace research and the production of missiles, spacecraft, computer hardware and software, electronic systems, and related items. Other major manufactures are processed foods, machinery, fabricated metals, and petroleum products.

 

For many years high freight rates and the long distances to major markets, together with a Mormon distrust of industrialization, tended to discourage manufacturing. However, the establishment of defense plants and military installations during World War II spurred phenomenal industrial growth. The proximity of high-grade iron, coal, and limestone made Provo a steel center. Industrial plants extend from Provo to Brigham City, with the largest concentration in the Salt Lake City area. Utah is now a center for aerospace research and the production of missiles, spacecraft, computer hardware and software, electronic systems, and related items. Other major manufactures are processed foods, machinery, fabricated metals, and petroleum products. Tourism has become increasingly important to the state's economy. In addition to the five national parks and seven national monuments, ski resorts, particularly in the Wasatch Range, are popular destinations.

 

With a factoring service like us you don't need to wait for cash.  

Factoring is when a commercial finance company, also known as a factor or factoring company, purchases a business's outstanding accounts receivable. -Factoring Companies Ut

 

 

LEARN EXACTLY HOW TO FACTOR  

Factoring Companies Ut Articles

Important Points to Remember When Choosing Your Factoring Company

 

Now that you’ve decided that factoring would be a solid business decision for your company, the next step is to find the perfect factoring company for you. Once you start looking you’ll discover that there are many factoring companies (or ‘factors’) in the marketplace, and this is the perfect situation for you as a potential factoring client.

 

But it can also be confusing, because now you have to find the right factoring company to suit your business’s needs. To assist you in making the right decision we’ve listed below the main issues that should be considered when choosing a factoring company.

 

Factoring Fees and Terms

 

Before making your final decision and entering into a factoring agreement, check out the fees applicable and the terms of the contract. Both of these can vary a lot, depending on the factoring company and the industry it's serving. When you start your research you’ll discover that some factoring companies charge a flat fee: this fee is, in effect, a certain percentage of the total value of the customer invoices you sell to them; whilst others have additional charges to cover the general costs of doing business – such as, money transfers, shipping, collateral, and so on.

 

Ensure that the factoring company you’re considering working with is transparent and upfront with you about its fee structure. In addition, you may want to consider a long term contract with your factoring company if it includes flexible rates or a price break. If you’re receiving competitive offers from other factoring companies or you have increased factoring volume, you’ll discover that many factoring companies will be prepared to adjust their rates. A one year contract is the industry standard for most factoring agreements. Generally, unless you give your factor a 60 or 90 day notice, your factoring contract will automatically renew.

 

What’s the Difference between Recourse and Non Recourse Factoring?

 

It’s important that you understand the difference between recourse and non recourse factoring prior to choosing your factoring company, because you need to know what the best fit would be for your company and your customers. So, with non recourse factoring, all of the credit risks for the collection of the invoice belong to the factoring company; while recourse factoring means that, with you being the client, you’ll ultimately be responsible if the factoring company is unable to collect payment on your customers’ invoices.

 

There are benefits to recourse factoring, and perhaps the main benefit is that it’s less expensive than non recourse factoring. If you have a recourse agreement and the customer defaults on payment, it doesn’t automatically mean that you’ll be asked to settle the debt out of pocket. Generally, what happens is that the factor will hold back a portion of either future cash advances or payments being held in reserve, with the money being placed in an escrow account awaiting settlement of the debt.

 

Our suggestion is that you find a factoring company that offers both recourse and non recourse factoring, because not all of your customers will be good candidates for recourse factoring. An experienced factoring company working with a strong credit team can also behelpful in ensuring you’re working with good customers: this will relieve some of the pressure of being stuck with bad debt.

 

Experience and Capital: The Two PreRequisites

 

Your company should be looking for a factoring company with experience in your industry, including the capital structure to fund your business as it continues to grow. Once you start researching factoring companies you’ll discover that there are a lot to choose from; however, many of these are recent start ups with limited experience. Prior to signing any factoring agreement, do your research and look into the history and background of the factoring company concerned, especially its ability to provide financial services in your area of expertise.

 

The idea with factoring is that, as your company grows, the funding of your customer invoices will grow with you.Research the factoring company’s client base and their capital structure. What’s a typical account size? What’s the factoring volume of their largest client? Is the factoring company limited to how many debtors it can handle? In general, factoring companies that have been serving your industry for many years will usually be able to offer your business the best deal.

 

Additional Factoring Services

 

There are many more benefits to factoring than simply increasing your company’s cash flow. Because the factoring company will be handling the collection of your customer’s invoices, your company will be saving time and resources. A good factoring company will also be able to evaluate companies in your industry and provide credit information. In short, your factor will ensure that you experience excellent customer service. You’ll be matched with your own representative who’ll be able to address any questions or concerns you may have about your factoring account.

 

So, when researching factoring companies, look for a factor who not only offers additional products but provides a high level of customer service that will help your business grow by assisting you in making smart business decisions.

 

 

 

FactorMoney.com

 

Factorcompanies.org

 

 

 

 

You Can Find More Information at  http://accountsreceivablepurchasing.com
and at http://accountreceivablefinancing.org

Call Us Today at: 1-888-266-0197

 

Watch our Factoring Company Video below to see how we work for you.

 

 


 

Get MONEY NOW for your outstanding invoices.

 

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Wyoming

 

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Arizona

 

Arkansas

 

California

 

Colorado

 

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