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.
Chicago

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 Chicago

The City of Chicago covers an area of 60,000 hectares and sits 176 meters (578 feet) above sea level on the southwestern shore of Lake Michigan. At 190 km wide and 495 km long, its the 5th largest body of fresh water in the world. The city is traversed by the Chicago and Calumet rivers. Chicago's extensive parklands, including 3,000 hectares of city parks attract an estimated 86 million visitors annually.As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago today embodies the values of America's heartland integrity, hard work and community and reflects the ideals in the social fabric of its 77 distinct neighborhoods.Chicago is recognized across the United States as a very passionate sports town.Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing afable housing in attractive and economically sound communities, ensuring accessibility for all and fostering, social, economic and environmental sustainability. Chicago is the largest city in Illinois and the seat of Cook County.

 

It stretches for 22 mi along the southwest shore of Lake Michigan in the northeast part of the state.The first white men known to have visited the region were Louis Joliet and Jacques Marquette in 1673. The first permanent white settler was John Kinzie, who is sometimes called the Father of Chicago. He took over a trading post in 1796 that had been established in 1791 by Jean Baptiste Point du Sable, a black fur trapper. Fort Dearborn, a blockhouse and stockade, was built in 1804 but was evacuated in 1812, at which time more than half of its garrison was massacred by Potawatomi and Ottawa Indians loyal to the British. The name Chicago is thought to come from an Algonquian word meaning onion or skunk. Laid out in 1830, Chicago was incorporated as a village in 1833 and as a city in 1837. In the Great Chicago Fire of 1871, an area of the city about 4 mi long and nearly a mile wide more than two thousand acres was totally destroyed. However, much of the city, including the railroads and stockyards, survived intact, and from the ashes of the old wooden structures there arose more modern constructions in steel and stone.

 

Today, Chicago is a major Great Lakes port and the commercial, financial, industrial, and cultural center of the Midwest. The manufacturing industries dominate the wholesale and retail trade, and trade in agricultural commodities is important to the economy. The Chicago Board of Trade is the largest agricultural futures market in the world.Among Chicago's many attractions are the Art Institute of Chicago, the Field Museum of Natural History, the Jane Addams Hull House Museum, Navy Pier, and numerous architectural landmarks such as the Sears Tower and Frank Lloyd Wright's Robie House.

 

 

Information for the state of Illinois

The dollar gross state product for Illinois was estimated to be US$652 billion in 2010. Illinois' major agricultural outputs are corn, soybeans, hogs, cattle, dairy products, and wheat. In most years, Illinois is either the first or second state for the highest production of soybeans, with a harvest of 427.7 million bushels (11.64 million metric tons) in 2008, after Iowa's production of 444.82 million bushels (12.11 million metric tons). Illinois ranks second in U.S. corn production with more than 1.5 billion bushels produced annually. Illinois is a leader in food manufacturing and meat processing. Illinois is one of the nation's manufacturing leaders, boasting annual value added productivity by manufacturing of over $107 billion in 2006.

 

About three-quarters of the state's manufacturers are located in the Northeastern Opportunity Return Region, with 38 percent of Illinois' approximately 18,900 manufacturing plants located in Cook County. As of 2006, the leading manufacturing industries in Illinois, based upon value-added, were chemical manufacturing ($18.3 billion), machinery manufacturing ($13.4 billion), food manufacturing ($12.9 billion), fabricated metal products ($11.5 billion), transportation equipment ($7.4 billion), plastics and rubber products ($7.0 billion), and computer and electronic products ($6.1 billion).

 

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

Each company has its own unique business needs, so some companies only factor invoices for customers that are slow in paying, whilst other companies factor all of their invoices. -Invoice Factoring Companies In Illinois

 

 

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Invoice Factoring Companies In Illinois Articles

Questions You Need to Ask Your Invoice Factoring Company

 

In today’s marketplace we’re seeing more and more Invoice Factoring companies, and Invoice Factoring fees, rates and agreement terms have become very competitive. This means that, as a potential Invoice Factoring customer, this competitiveness should work to your advantage. However, there are some issues you must consider when choosing a Invoice Factoring company to suit your specific requirements.

 

Before entering into any Invoice Factoring agreement, here are some important questions you should ask –

 

What Are Your Terms?

 

As a Invoice Factoring customer, you’ll be looking for as much flexibility in your Invoice Factoring agreement as possible. It may be that you choose a long term contract with your Invoice Factoring company if it includes flexible rates or a price break. In today’s competitive market, many Invoice Factoring companies are agreeing to adjust their rates based on competitive offers from other factors or increased Invoice Factoring volume.

 

The majority of Invoice Factoring agreements are a one year contract, which appears to be industry standard, and this contract will renew automatically unless you provide the Invoice Factoring company either 60 or 90 days notice.

 

What’s Your Fee Structure?

 

The fee structure may vary depending on both the Invoice Factoring company involved and your industry. Some Invoice Factoring companies charge a flat fee, which is calculated as a percentage of the total value of the invoice. On the other hand, other Invoice Factoring companies charge additional fees to cover costs associated with doing business, such as money transfers, software, and so on. Ensure that the Invoice Factoring company you’re considering working with is completely upfront and transparent with you about its terms and fees.

 

Are You Able to Offer Both Recourse and Non Recourse Invoice Factoring?

 

Recourse Invoice Factoring:

 

Recourse Invoice Factoring is less expensive than non recourse Invoice Factoring. With recourse Invoice Factoring, you (being the client) are ultimately responsible if the Invoice Factoring company is unable to collect on your customers’ invoices. However, you’re not necessarily required to pay the debt out of pocket if you have a recourse agreement and the customer defaults on payment. It may be that the Invoice Factoring company will withhold a portion of future cash payments or payments held in reserve, with the money being placed in an escrow account until such time as the debt has been paid.

 

Non recourse Invoice Factoring:

 

When you have a non recourse Invoice Factoring agreement, the credit risk for the collection of customers’ invoices lies with the Invoice Factoring company.Therefore, we believe it’s to your advantage to use a Invoice Factoring company that offers both recourse and non recourse Invoice Factoring, simply because you may find that some of your customers are more suitable for recourse Invoice Factoring than others. In addition, you need a Invoice Factoring company with a strong credit team because they can work with you to ensure you’re dealing with good customers: to a certain degree this will relieve some of the pressure of being responsible for bad debt.

 

How Long Has the Invoice Factoring Company Been in Business?

 

With the marketplace becoming increasingly competitive, today we’re seeing the creation of more and more Invoice Factoring companies. However, many of these companies are recent start ups, with limited industry experience. Make sure you research the Invoice Factoring company’s history prior to entering into any Invoice Factoring agreement: also research its background into providing financial services in your specific industry.

 

Do You Have the Capital to Grow with Me?

 

The fact that there’s no limit to the level of financing is the major advantage Invoice Factoring has over traditional bank lending. As your company continues to grow, so too should the funding of invoices grow with you. Do your research and learn as much as possible about your potential Invoice Factoring company’s client base and their capital structure.

 

Does this Invoice Factoring company have a limit to the number of debtors it takes on? What’s a typical account size? What’s the Invoice Factoring volume of their largest client? You’ll probably find that Invoice Factoring companies who have been serving your industry for many years will have greater capacity to finance your company as it continues to grow.

 

Is There Anything Else You Can Do for Me?

 

Obviously, Invoice Factoring is more expensive than a conventional bank loan, and this is partly due to the back office services that your Invoice Factoring company is able to provide. Besides collections and financing, many Invoice Factoring companies will evaluate companies in your industry and provide credit information. Therefore, when looking for a Invoice Factoring company for your business, make sure the one you choose offers additional services and products that can assist you in making good business decisions.

 

How Do We Start Invoice Factoring?

 

Fortunately, Invoice Factoring companies are not unduly concerned about your balance sheet before they decide to work with you, unlike banks. However, they do have a process to follow when selecting new clients, so be sure you understand what the Invoice Factoring company is looking for when it’s considering you as a client. Are they looking at your credit ratings and/or your customers’ payment histories?

 

Are they looking at your personal credit score?

 

In many cases a company will start Invoice Factoring because it’s looking for a quick injection of cash, so you need to know how many days the Invoice Factoring company will take to review and process your application.

 

 

 

CraigWinters.com

 

Account-receivable.org

 

 

 

 

You Can Find More Information at  http://invoicefactoringservices.org
and at www.yourfactoring.com

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

 

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

 

 


 

Get CASH NOW for your outstanding receivables.

 

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Illinois

 

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Louisiana

 

Maine

 

Maryland

 

Massachusetts

 

Michigan

 

Minnesota

 

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Missouri

 

Montana

 

Nebraska

 

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New Hampshire

 

New Jersey

 

New Mexico

 

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North Carolina

 

North Dakota

 

Ohio

 

Oklahoma

 

Oregon

 

Pennsylvania

 

Rhode Island

 

South Carolina

 

South Dakota

 

Tennessee

 

Texas

 

Utah

 

Vermont

 

Virginia

 

Washington

 

West Virginia

 

Wisconsin

 

Wyoming

 

Alabama

 

Alaska

 

Arizona

 

Arkansas

 

California

 

Colorado

 

Connecticut

 

Delaware

 

Florida

 

Georgia

 

Hawaii

 

Idaho

 

Illinois

 

Indiana

 

Iowa

 

Kansas

 

Kentucky

 

Louisiana

 

Maine

 

Maryland

 

Massachusetts

 

Michigan

 

Minnesota

 

Mississippi

 

Missouri

 

Montana

 

Nebraska

 

Nevada

 

New Hampshire

 

New Jersey

 

New Mexico

 

New York

 

North Carolina

 

North Dakota

 

Ohio

 

Oklahoma

 

Oregon

 

Pennsylvania

 

Rhode Island

 

South Carolina

 

South Dakota

 

Tennessee

 

Texas

 

Utah

 

Vermont

 

Virginia

 

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