We are expert in Account Receivable & Invoice Factoring
At ExtraNet Business Finance, Invoice factoring is a quick and flexible source of funds for businesses that are waiting for outstanding receivables to pay. We simply utilize your accounts receivable as the collateral and advance funds against the face value of your invoices. Invoice factoring allows your credit line to grow proportionately with your sales cycle. We can fund a small amount as $5,000 per month for small companies and up to $3.5 million for and larger companies.
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 $3.5 million
- Transparent contracts with no hidden fees
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.
- Banks can take weeks or months to make business loan decisions.
- We have fast and easy funding process.
- No collateral or down payment
- Invoice factoring is not a loan.
- Improve cash flow without incurring debt
- No worry about adding liabilities to your company balance sheet.
- 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
- Receivable financing rates at 0.69% – 2.0%
- Optional Structure Prime Rate +2% & Admin Fee
- No financials – No monthly minimums – No invoice minimums
- No facility fees – No audits – No up-front fees – No hidden fees
- Set up account in 3 to 5 working days; and 24 hr funding thereafter
- Receivable credit lines starting at $5,000 & up to $3.5 million
- Customer referrals upon your request
- We Make Same Day Decisions
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
- No Credit Check fees, No mailing fee
- No need to factor all accounts, partial factoring is acceptable
- Online reporting – Simple to understand rates
- Same day funding via wire transfer
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
- 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
- Invoices to factor
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...