Businesses need cash flow to operate and serve their customers. Invoice factoring is a source of financing many environmental contractors use to build cash flow. Invoice factoring enables business operators to build fast, consistent cash flow without increasing debt.
Invoice factoring is a type of financing used by small and mid-size businesses to improve cash availability. Instead of waiting for 30 days, 60 days, or longer on customer payments, environmental services firms sell their open invoices to a factoring company, such as TCI Business Capital, for an immediate cash advance. Clients use this money to meet payroll, manage the company expenses, or fund new opportunities.
Factoring for environmental services contractors is an easy process. Start by choosing a factoring company that meets the needs of your business. You should consider the advance rate, factoring fees, and knowledge of your industry in the selection process.
Invoice factoring with TCI Business Capital is straightforward. Once your business is set-up for factoring, send in your new invoices. TCI Business Capital will advance you cash the same day. The invoices are sent on to your customer, who processes and pays the invoices in their usual manner. Once the invoice is paid to TCI Business Capital by your customer, you receive the remaining invoice balance, less the factoring fee.
Companies use factoring for a variety of reasons. The primary reason is factoring ends the stress and worry of waiting for customer payments. The cash from invoice factoring is available to use immediately.
Factoring is not a loan; therefore no new or additional debt is created. This makes factoring especially appealing to businesses interested in minimizing their debt.
To qualify for factoring, a company must provide work or services to business customers with established credit and payment histories. Factoring companies base the factoring lines on this information, not the credit score or history of the new factoring client.
TCI Business Capital recognizes that companies interested in factoring need money quickly. After an initial phone consultation on your factoring needs, we will provide a custom factoring consultation, and quote in as little as 15 minutes. Our factoring lines range from $50,000 – $20,000,000 per month. Once we agree on a factoring program, we work to get your account set up and fund your first invoices as fast as possible. In some situations, the first funding can happen in as little as 48 hours.
Companies in the environmental services industry perform many different jobs or supply services to a range of customers. Some of the work or services factoring clients are involved with include:
|Biohazard & Hazmat Cleanup||Decommissioning|
|Environmental Consultation||Hazmat Transportation|
|Industrial Cleaning||Railroad Maintenance|
|Reclamation Work||Recycling Management|
|Remediation Services||Sewer & Pipeline Rehab|
|Spill & Emergency Response||Storage Tank Cleaning|
|Waste Management||And Many More|
Since 1994, 1000’s of small and mid-size companies have used the cash from factoring with TCI Business Capital to build a financially secure business. In addition to high cash advances, there are numerous value-added services for factoring clients.