Accounts Receivable and Business Factoring

Business factoring is ideal for businesses who need immediate access to cash, but who may not otherwise qualify for traditional loans. Approval is granted usually within 24 hours and is based on the creditworthiness of your customers as opposed to you or your business. Established in 2015, Quick Loans Direct provides a fast and efficient financing process based on your business performance rather than your personal credit score.

Business Factoring

Also known as accounts receivable factoring, business factoring is another swift path to alternative funding. Essentially, a factoring company purchases your outstanding receivables for a fixed amount. You may receive over 90% of the value of the receivables that you decide to sell. This is not a loan. The factoring company is buying the receivables from you and will receive the payments from those customers.

Business factoring is ideal for businesses who need immediate access to cash, but who may not otherwise qualify for traditional loans. Approval is granted usually within 24 hours and is based on the creditworthiness of your customers as opposed to you or your business.

An added bonus is that you will not be weighted down with debt and further costs due to interest payments. It is prudent to consider this option carefully as you are receiving only a portion of the total amount of the receivables you’re intending to sell. However, if you have a collection of customers who are slow in their payment remittance, and you need financial capital now, business factoring may be the wisest choice for your business.

Need up to $1,000,000