Expert on Account Receivable & Invoice Factoring
Account Receivable Credit Lines fund the day-to-day expenses for companies who might need. Loan borrowers can acquire funding against eligible account receivable while waiting for customers to pay their invoices. Borrowers pay interest or fees separately from principle.
At ExtraNet Business Finance, Invoice factoring is a quick and flexible source of funds for business who sells their its account receivable to the third party at a discount price. We simply utilize your accounts receivable as the collateral and advance funds against the face value of the invoices. Invoice factoring allows your credit line to grow proportionately with the sales cycle. We can fund a small amount as $5,000 per month and up to $4 million for a larger account. We offer recourse and non-recourse factoring.
Why Our Clients Choose Us
Not all factoring companies are the same. We at ExtraNet Business Finance offer:
- Competitive receivable financing rates with same day decisions
- No Financials Required, No Monthly minimums, No Audit fees
- Receivable based lines of credit up to $4 million
- Transparent contracts with no hidden fees
- We fund for start-ups minimum $5,000
We Offer Fast Funding for Working Capital in Days, Not Weeks or Months
Invoice factoring is a quick and easy process that can put cash in your hand within 24-48 hours for inventory, business expansion, marketing, and payroll, etc.
- Recourse an Non-recourse Factoring
- Invoice factoring is not a loan
- No collateral or down payment
- We have fast and easy funding process
- Improve cash flow without incurring debt
- No worry about adding liabilities to your company balance sheet
- Banks can take weeks or months to make business loan decisions
- No required to make monthly loan payments, payroll and other operational expenses.
Is your business experiencing cash flow shortages and need a funding?
ExtraNet Business Finance offers account receivable finance for businesses experiencing cash flow shortages. Our invoice factoring finance program provides the utmost flexibility for enhancing your company’s capacity to grow without having to worry about pledging additional collateral. We leverage your account receivable based credit line solely on your customer’s financial strength, not your credit score.
Invoice Factoring Keeps Your Business Moving Forward
For a modern business, standing still is not an option if you want to have a successful business and stay competitive in a changing world. Invoice factoring receivables is a good way to keep your company moving forward. When putting your business on hold because customers didn’t paid what they owe is bad for your business. Sometimes, customers are waiting to receive payments from their customers before paying your invoice, and while you are waiting, your company is at risk of falls.
Financing Account Receivables & Invoice Factoring is a Simple Process
- Fee rates at up to 3.0%
- We fund start-ups, minimum invoice from $3,000 – 4.0 million
- No financials – No monthly minimums – No invoice minimum
- No audits – No up-front fees – No hidden fees
- Set up account in 3 to 5 working days; and 24 hr funding thereafter
Benefits of Account Receivables & Invoice Factoring
Your company can be free from shortage of cash flow issues with our factoring services. Companies experience 60 to 90 days to get paid on invoices for product delivered and have to wait for customers to make payments on their invoices so that you can pay yours can take a toll. You can make timely payroll payments and pay suppliers, raw materials and expenses without damaging your business credit, incurring late fees or worrying that your employees will quit.
What makes us unique in the Invoice factoring industry?
- No hidden fees
- No long term contracts
- No minimum invoice fees
- No hold backs or deposit required
- Same day funding via wire transfer
- Great customer service & supports
- No Credit Check fees, No mailing fee
- No start-up fee or application fee required
- Online access to run reports on your factored receivables
- No need to factor all accounts, partial factoring is acceptable
Initial Funding: 4-7 Business days after receiving a complete application package
Transaction Amount: $20,000 – $350,000 with NO financial needed, Maximum 2.0 million per client
Advance Funding: 70%-95% depending on industry, Account debtor quality and mix
No Hidden fees: Fees listed on the proposal will be the same as on the agreement
Typical Documents Needed For Invoice Financing
- Invoices to factor
- A two page application
- An accounts receivable report
- A customer list with credit limit request
- Copy of articles of Incorporation or DBA filing record
- Factoring for Businesses Improves Cash Flow
We offer funding for the following industries
Apparel & Textile Business
- Auto Part Distributor
- Cable & Satellite Television Installer
- Commercial Printing Business
- Electronics Importer & Distributor
- Engineering Firm
- Employment Staffing
- Employment Temporary Staffing Agency
- Janitor Service Company
- Machine Shop
- Oil Field & Gas
- Plastic Injection Molding Company
- Security Guard Firm
- Security Alarm Installer
- Trucking Companies, and More...
Thank you for doing business with us. Follow the below steps to fill out the loan application. Your information certainly helps us to get your loan approved