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What is Factoring?

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What is Factoring and How Can it Help My Business?

Invoice factoring is a great way to improve cash flow and get access to assets that would otherwise be tied up in your business’s accounts receivable. There are many advantages to using this form of financing—here’s a quick introduction.

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How It Works

Also known as Accounts Receivable Financing or financing Receivables, this type of program allows you to sell your accounts receivable at a discount. Rather than waiting for a month (or three) for your customers to pay you in full, you can access the cash immediately and have a third-party factoring company handle the repayment for you.

Learn more about Invoice Factoring
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Why It’s Useful

There are a number of benefits that can come from using this type of financing strategy. For one, you can gain cash quickly without incurring debt—rather than taking out a loan, you are simply transferring an asset. Additionally, financing receivables allows you to get funding based on the payment history and credit status of your customers, rather than that of your organization. This makes it a great strategy for businesses that may not qualify for other types of funding.

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What You Can Do

Generally speaking, invoice factoring can allow a company to obtain the necessary cash in 24 hours or even less. If you’re interested in learning more about invoice factoring with Lucida Funding Corp, get in touch with our associates today.[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_button title=”Let’s Get Started” color=”custom” custom_color=”#2b3942″ custom_border_color=”#2b3942″ full_width=”true” href=”http://www.lucidafundingcorp.com/contact/”][/vc_column][/vc_row]