Unpaid invoices are part of running a business. It’s a frustrating and unfortunate reality for small business owners everywhere.
You rely on those receivables to pay your bills, purchase inventory, and fund all of the other operational costs of running a business. If your business has unpaid invoices and you’re low on cash, invoice factoring will be a top solution for you to consider.
What is invoice factoring?
Invoice factoring is not the same as a traditional business loan or business credit line. Your business sells qualifying unpaid invoices to a factor for upfront cash. You’ll typically receive anywhere from 70% to 95% of the value while paying a factoring fee until the invoice is paid.
If you’re interested in getting instant cash for your unpaid receivables, this guide will help you find the best invoice factoring company for your business.
The 7 Best Invoice Factoring Companies of 2020
Invoice factoring can be a complex subject for small business owners who aren’t familiar with how it works. With so many different companies to choose from, finding the best option for your organization can feel a bit overwhelming.
Fortunately, I’ve already done all of the research for you. These are the top seven invoice factoring companies for you to consider:
I’ll give you an in-depth review of each company as we continue through this guide. This will…