Benefits of Factoring & Other Creative Business Financing Solutions

Cash is the lifeblood of growing companies. With plenty of cash, your operation can hum right along, fill orders, provide good service, and take advantage of expansion opportunities. Without cash, things can get unpleasantly tight. We know turning down opportunities, let alone missing payroll, can be very damaging to your company’s future.

Even though the banks won’t help in your time of need, we can help. GrowCo Factoring & Financial specializes in helping small businesses with $50,000 to $5 million in gross annual revenues get the cash they need.

Creative Business Financing Solutions

Our primary services are:

  • Traditional accounts receivable (invoice) factoring
  • Credit card factoring
  • Purchase order financing
  • Asset-based lending

Each of these financing solutions offers unique benefits to your company.

 

 

How traditional invoice factoring will benefit your company

If you need cash today and you have invoices for products and services already delivered to good paying customers, we can help. Traditional invoice factoring isn’t a loan. Instead you sell your invoices to us for cash today.

Key benefits to you of invoice factoring include:

  • Provides predictable cash flow
  • Easy to obtain and can be arranged in days, not months like bank credit lines
  • Factoring is not a loan so you’re not creating debt on your company balance sheet
  • Personal credit history doesn’t matter
  • Startup companies are welcome
  • The accounts receivable management services that we provide free you up to focus on important things – like growing your business!

If you’re considering factoring or just have questions about it, give us a call today at (877) 267-0500 or complete our quick application above.

How credit card factoring will benefit your company

If you need cash today and your business regularly books sales by credit card, credit card factoring may be right for you. Credit card factoring, also called merchant cash advance, isn’t a loan. Instead you sell your future credit card receipts to us for cash today.

Key benefits to you of credit card factoring include:

  • Provides immediate cash
  • Easy to obtain and can be arranged in days, not months and months like traditional bank financing
  • Credit card factoring is not a loan so you’re not creating debt on your company balance sheet
  • Companies without long operating histories are welcome
  • Your personal credit history is not a critical consideration

Banks speak of the Five “C’s” borrowers must have to qualify for a loan: capacity to repay, good character (or reputation), good loan condition, capital in the business, and collateral. No wonder qualifying for a bank loan is so difficult. Meanwhile, we talk about the one “C” you need – credit card receipts.

If you’re considering credit card factoring or just have questions about it, give us a call today at (877) 267-0500 or complete our quick application above.

 

How purchase order financing will benefit your company

Having orders to fill is a good thing – that’s how your business makes money and grows. We know it can be stressful, however, to have orders to fill without the cash you need to fill them. If you have purchase orders from creditworthy businesses or the government, we can help.

Key benefits to you of purchase order financing include:

  • Provides immediate cash for up to 100% of supplier costs
  • Directly tied to your sales so your financing ability scales as your sales grow
  • Allows your company to take on big jobs without using all your working capital
  • Unlike bank credit lines, purchase order financing is easy to obtain and can be arranged in days
  • Purchase order financing is not a loan. It’s an advance to your suppliers against the future payment on the purchase orders. Therefore, you don’t create debt on your company balance sheet
  • Companies without long operating histories are welcome
  • Your personal credit history is not a critical consideration

If you want to talk more about purchase order financing or find out if you qualify, give us a call today at (877) 267-0500 or complete our quick application above.

How asset-based financing will benefit your company

Companies in all types of industries and at varying stages of their company lifecycles use asset-based loans to refinance debt, purchase equipment, strengthen their balance sheets, buy other companies, buy back stock, or for all sorts of other reasons.  In fact, use of this popular commercial financing technique has grown so quickly that the total value of outstanding asset-based loans more than tripled from 1994 to 2004 according to the Commercial Finance Association.

Key benefits to you of asset-based financing include:

  • Your borrowing capacity doesn’t decline if your company’s earnings decline, giving you more predictable availability of cash
  • The covenants you must comply with are generally less restrictive than with other bank credit facilities
  • Greater flexibility in how you use the loan proceeds
  • Lower interest rates and fees than unsecured bank loans
  • Easier qualifying than unsecured bank loans

If you want to talk more about asset-based financing or find out if you qualify, give us a call today at (877) 267-0500 or complete our quick application above.

 

Benefits of Factoring with GrowCo:

  • Rates as low as .5%
  • Funds deposited into your account within hours
  • No long-term contracts
  • No minimum volumes or minimum fees
  • Factor only when you want
  • Factor only the invoices you want
  • Flexible and creative financing programs other than factoring
  • Super fast approval
  • No application fees

No Financials Needed. No Application Fees. Creative Financing for Any Industry. Rates as Low as .5%.

Call us 24 Hours a Day, 7 Days a Week: (877) 267-0500.