Imagine having the cash for your business, when it’s needed. Invoice factoring with TCI Business Capital provides essential cash when you need it. Factoring is a fast, simple type of financing. Companies get immediate cash for their invoices, without waiting weeks or months for payment from their customers.
Invoice factoring provides consistent cash flow by selling your open receivables (invoices) to a third party known as a factoring company. The increased cash flow is used to keep up with business demands such as bills, payroll, new resources, and growth.
TCI Business Capital makes invoice factoring easy. It’s based on your customer’s credit and payment history. With invoice factoring, which is also called invoice financing or accounts-receivable factoring, a company sells their outstanding invoices for an immediate cash advance. The invoice is sent on to the customer, and once it’s paid, the remaining balance of the invoice, less a small fee, is remitted to the client.
In addition to the improved cash flow, companies enjoy many additional benefits when they choose invoice factoring as their source of financing.
The benefits of invoice factoring with TCI Business Capital include:
Businesses that invoice other businesses on net terms can quickly and easily qualify for invoice factoring.
First, instead of looking at your credit and financial history, we look at your customers’ financials and payment history. Companies that don’t qualify for a bank loan or line of credit because of no credit, less-than-perfect credit, or maxed-out credit can easily qualify for factoring.
With TCI Business Capital, you need an average of at least $50,000 in monthly invoices to qualify for our programs. Our factoring lines go up to $20 million per month, giving you plenty of room to grow. Factoring is an ideal financing solution for both start-up companies and those that are expanding as it gives them the working capital they need to grow.
Some of the industries we serve include oilfield service companies, trucking fleets, staffing agencies, telecom contractors, and many other service-related industries.
Because each company’s situation is different, TCI Business Capital’s invoice factoring programs are tailored to fit the unique needs of each client. We work with clients in many different industries, so we can customize a factoring program to meet your company’s needs.
The initial step in securing a factoring line is to speak with a TCI Business Capital representative. We’ll discuss your cash situation and needs, and we’ll offer a free, no-obligation quote and approval for a factoring line. Our simple and straightforward underwriting guidelines allow most customers to receive written approvals in 15 minutes or less. All factoring approvals are customized for the specific needs of the client. We’ll work to make certain the factoring line meets your requirements.
Once a factoring line is agreed upon, we’ll schedule your first funding. We can accommodate most schedules and offer an expedited service for those in need of immediate cash. During the setup process, we’ll walk you through the agreement and discuss your invoices and any related materials.
When the set-up process is complete, we fund you via ACH direct deposit or a wire transfer directly into your bank account. From this point forward, each time we receive your invoices, we’ll process and fund you the same day the invoices are received.
To apply for a custom factoring program fill out the form below or give us a call at 800-707-4845. In as little as 15 minutes, we’ll get you approved for a custom program to meet your business demands.