If you are missing new opportunities because you have a significant amount of your company’s capital tied up in unpaid invoices, you should consider Spectra Financial's Factoring Service.
Waiting 30 to 60 days for your customers to pay their invoice is quite common, and although it’s an industry practice, new and growing businesses cannot afford to wait up 60 days to get reimbursed for the provided services. This is especially true in service industries where your payroll obligations cannot be delayed.
Spectra Financial's Factoring Service allows you to get cash immediately on your current invoices creating increased cash flow that you can use to meet your payroll and focus on new business opportunities.
Spectra Financial's factoring service is simple to use and it's easy to get started. The primary requirement is that you do business with creditworthy and reputable customers. This makes it ideal for any company that cannot qualify for traditional bank financing.
The Process
- You deliver your services and generate an invoice
- Spectra Financial will advance up to 90% of the gross value of the invoice (the remainder is held as reserve)
- Once your customer payments are collected, the balance of the reserve is released to you less our small fee.