Factoring.io announced the launch of its invoice and accounts receivable factoring company and the unveiling of the company’s new website. This new venture will provide small businesses with the financing they need to grow and fill the invoice financing gap.
Nate Nead, CEO of Factoring.io, said, “We’re excited to launch our invoice and accounts receivable factoring company and provide small and medium businesses with the financing they need to grow. Our low-cost invoice financing is designed to help companies take advantage of opportunities that otherwise would be unavailable to them with other forms of bank financing.”
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Factor finance is a form of invoice financing and asset-based lending that allows businesses to receive money for their outstanding invoices immediately rather than waiting 30-60 days for payment. Accounts receivable factoring is a type of factor finance specifically targeting exceptional accounts receivable balances.
Invoice factoring remains a popular form of alternative financing for small businesses in the United States. However, invoice financing can be difficult and expensive for small businesses. Factoring.io will provide invoice financing and asset-based lending at much lower costs than traditional lenders, making it more accessible and affordable for small businesses.
Invoice factoring can provide a number of benefits for small businesses, including:
- The ability to receive money immediately for outstanding invoices, rather than waiting 30-60 days for payment
- A low-cost way to finance internal company growth initiatives
- The ability to get cash flow relief by selling outstanding invoices at a reasonable discount
Improved creditworthiness and access to capital
“We are excited to offer this service to small businesses,” said Nead. “With Factoring.io, business owners can get the cash they need to grow their businesses without waiting to collect their outstanding accounts receivable. Factoring.io is committed to helping small businesses succeed and grow.”
SOURCE: PR web