Invoice Factoring From Park Funding Solutions
At Park Funding Solutions, we understand you need a financing solution that is flexible enough to expand with your growing business. To assist you, we offer invoice factoring (also known as accounts receivable financing, invoice financing and accounts receivable factoring), a vital service for keeping your business operating as smoothly as possible.
Our professional invoice factoring service is available to businesses of various sizes and is applicable to numerous industries, so you know it’s a valuable tool in keeping your business competitive and thriving.
Whether you need cash on hand to pay vendors or cover payroll, we can help. By signing up for invoice factoring with Park Funding Solutions, you can exchange outstanding invoices for cash to help you keep your business operating at its maximum potential.
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If you have any questions for us, or are ready to form a partnership, contact us today at the button below. We’re looking forward to building the future with you!
How Does Invoice Factoring Work?
Once you sign up for invoice factoring, it's easy for your company to get the funds it needs. This all happens in just a few easy steps:
- You perform a service for a client and you send us the invoice.
- We provide you with a cash advance on your invoice.
- We collect the full payment of the invoice from your client.
With such a simple process, there’s no doubt that working with a factoring company is the right choice for your business. But let’s take a moment to compare invoice factoring to some other forms of financing options.
How Does Invoice Factoring Stand Up to the Competition?
Other forms of business financing come with a lot of strings and stipulations, preventing you from receiving your funds in the most efficient way possible. These methods can cost you more money in the long-term, or just generally distract you from the business at hand.
- Credit cards, though helpful, cause your business to accrue debt and interest. And should you have trouble paying one month, or miss a deadline, your company’s credit history can be adversely affected.
- Business loans are an incredibly popular form of financing, but are not without their share of problems. Companies seeking these loans need to be approved by the institution, and the funds themselves often aren’t available for 1 to 2 months. Additionally, interest on this form of financing can quickly add up.
- Lastly, invoice discounting is a similar system to invoice factoring, but with more steps and headaches for business owners. You would receive an upfront cash advance on your invoice, but would still need to track down the client to acquire their payment and deposit it. At that point, haven’t you lost the convenience you were after?
So with all the hassles and red tape you’ll have to go through working with these other forms of financing, what is it about invoice factoring that makes it the right choice for your company’s future?
How Does Invoice Factoring Benefit You?
There are many benefits to signing up for invoice factoring besides getting an advance on your invoices.
- When working with Park Funding Solutions, you are partnering with an established banking institution with a long history of offering expert financial insights.
- Also, since we are part of a reputable bank, we are able to provide extremely competitive pricing compared to other private factoring firms. With us, you will receive the cash you need with lower rates than most factoring companies.
- As a bank, our financial backing means we will always have the funds you need on hand. This is not true for all companies that offer invoice factoring since many of them are independent businesses.
- Since our invoice factoring services are offered by a small institution, we are able to give each of our clients individual and personalized attention, ensuring a fulfilling partnership.
Other benefits of our invoice factoring services include:
- The ability to free up time and money for your business
- Receiving up to 90% of an invoice, often within 24 hours
- Additional financing as your receivables grow
- The convenience of working with industry professionals
- Increasing your business’ ability to expand
- Financing day-to-day operations
Lastly, with Park Funding Solutions’ approval process, when you sign up to work with us we’ll review any potential clients you are considering working with and evaluate their credit history.
Not only does this save us both financial problems in the long run, it gives you valuable information and will allow you to be forewarned of any potential future issues with a client.
With so many ways your business can improve by using Park Funding Solutions’ invoice factoring, it’s clear that this is the right choice for your company’s future.
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Who We Work With
As a premier invoice factoring company, we have the good fortune of working with a very diverse clientele base within numerous industries, and we’re growing all the time.
While often utilized by larger companies, invoice factoring is a worthwhile funding solution for businesses of all sizes, including smaller operations and startups. Best of all, while our factoring operations are equipped to work with smaller clients such as these, they also can facilitate the needs of multimillion dollar corporations.
Some of the industries we’ve worked with include, but aren’t limited to:
More information about the specific benefits invoice factoring nets these industries can be found here. And of course, if you believe your field could be helped by our great services, don’t hesitate to contact us!
Solutions for Small Businesses
Owning a small business or a startup brings with it a lot hurdles. Though you may have acquired a lot of valuable experience and feel confident in your business model, the realities of day-to-day operations can weigh on anyone.
Below, you’ll find some common issues faced by smaller companies and how invoice factoring can help to reduce these worries.
- Time Management – The nature of being a small business owner means wearing a lot of hats. From product development to marketing to employee oversight to financing, there’s so much to keep track of on a given day. By using invoice factoring, though, you’ll have the peace of mind knowing industry professionals are covering a vital aspect.
- Financing – Creating a new business can mean needing a lot of initial capital, but seeing to the daily operations of that business can also mean having a steady stream of funds. Invoice factoring is able to keep this revenue stream moving unabated, supplying you with money you’ve already earned and preventing you from having to pay costly interest.
- Expansion – No matter how good business is currently going, the best leaders are always thinking ahead, looking for ways to innovate and expand. Much like how invoice factoring can keep your day-to-day operations running smoothly, the process also allows small businesses to have the needed liquid funds to explore new ventures and exploit exciting opportunities.