What are the benefits of factoring for businesses in the USA and Canada?
Canada & US businesses use factoring to free up cash flow to keep their operations healthy and growing. Factoring offers many benefits:
- Easier than a bank loan: Because qualification is based on the creditworthiness of your customer, businesses who might not normally qualify for financing can qualify for factoring from Accutrac Capital.
- Faster cash: Factoring transactions by Accutrac Capital, turn around cash within 24 hours upon receiving a valid invoice for services or products delivered to a creditworthy customer.
- No need to keep applying: Once your account has been set up with Accutrac Capital there's no need to go through the hassle and red tape of applying for a loan every time the business needs cash.
- Reduced administration and improved professionalism: Accutrac Capital performs credit checks of customers, issues invoices and collects payment. Our professional approach reduces your company's administrative time and costs when managing receivables.
- Reduced costs: When you consider the costs of late payment penalties, missing out on early payment or bulk purchase incentives, or the high costs of paying for supplies with credit cards, the small fee paid for factoring with Accutrac Capital is often less.