How Does Factoring Work for Service Companies?
Your services require appropriate and timely payment to keep your business afloat. Waiting for months-long invoice payments can be frustrating and risky for your company. With proper funding for your service company’s invoices, you can access a constant cash flow without disrupting your customer’s payment schedule.
At Porter Capital, we assist attorneys, architects, engineers, consultants, accountants and beyond with instant invoice factoring. Our commitment to service companies like yours shines through our more than 30 years of financing solutions. Here’s how we provide invoice funding for service companies:
- Your company submits a valid invoice to our Porter Capital team.
- We send a cash advance for at least 85% of your outstanding invoice.
- While you use your funding, we wait to collect payment from your customers.
- Once the customer has paid us, we return the rest of your balance minus a small fee.