Factoring for Service Companies

As a service provider, you work with countless customers, each with a unique payment schedule. Often, customers can take 30, 60 or 90 days to fulfill an invoice, creating a gap in your company’s cash flow. This gap can make it difficult to manage everyday expenses since it forces you to wait on outstanding payments. That’s why many businesses choose accounts receivable and invoice factoring for service providers.

Invoice factoring is a strategy service companies use to get upfront advances on their invoices — without adding any pressure to the customer. At Porter Capital, we offer service company financing solutions and instant cash advances on any invoices. Our team alleviates the burden of waiting so you and your client can both be happy.

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:

1. Your company submits a valid invoice to our Porter Capital team.
2. We send a cash advance for at least 85% of your outstanding invoice.
3. While you use your funding, we wait to collect payment from your customers.
4. Once the customer has paid us, we return the rest of your balance minus a small fee.

Benefits of Factoring for Service Providers

Our service company financing options allow your business to enjoy the flexibility and security of reliable payment periods. Your operational costs can’t wait and invoice factoring makes it easy to get working capital for your everyday needs. Take control of your invoices with a reliable team to offer financing solutions.

Porter Capital has worked with many service providers to create factoring schedules that work for them. With invoice factoring, your service company can take advantage of the following perks:

• Unlimited funding potential: If desired, you can factor as many invoices as possible. Our team can fund multimillion-dollar deals as they come!
• Simplified approval: It can be challenging to secure funding for service companies, especially if you’re just getting started. We can typically approve factoring deals with low credit ratings or no collateral.
• Long-term security: Our service company factoring solutions are a strategic way to boost your business’s long-term stability. With the appropriate funding to maintain your operational budget, you can expand beyond the competition over time.

How Porter Capital Helps Service Companies

The experts at Porter Capital are your financing partners for all outstanding invoices. We understand each provider has different factoring needs, so we take the time to discuss your business before beginning the process.

Factoring is a simplified, debt-free solution for companies that can’t wait three months for payment. Whether you need one-time or long-term factoring, we can be your trusted partner! Our accounts receivable factoring allows service companies to get their well-deserved payment within hours of submitting an invoice to our team.

Get Factoring for Your Service Company

Service companies offer unmeasurable value to their customers through diligent, high-quality work. This great work requires operational upkeep and reliable working capital. Instead of waiting months for your invoices to clear, get your payment with a cash advance from Porter Capital.

Want to learn more about what invoice funding can do for your service company? Contact our team or apply today!