Illinois Factoring Companies
Factoring Companies in Illinois
Illinois is home to over 1.2 million small businesses. More than 45% of Illinois employees are employed by small businesses. Along with that, Illinois has the 4th most Fortune 500 corporate headquarters including Kraft, Walgreens, and McDonald’s. However, that leaves a lot of businesses searching for Illinois factoring companies in order to help their businesses grow. We work with multiple accounts receivable financing companies and can quickly introduce you to one suited to meet your business’s needs.
Many companies we work with in Illinois face the same challenge. A need for immediate cash to pay their expenses, such as payroll and suppliers. When dealing with corporations, like those mentioned above, a business will typically face payment terms anywhere from net 30 to net 90 days. Some industries specific to Illinois, such as manufacturing companies, can face a cash flow gap of 60 to 120 days when time to produce is also considered. Since Illinois factoring companies specialize by business size, industry, contractual obligations and business or government contracts, you can consume valuable time sorting through ones that can help. Or you can call us and utilize our 25+ years of experience to save you time and money all without any fee or commitment to us.
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Our network of factoring companies is ready to go. With no cost or commitment we can find the best factory company for your business.
Benefits of Invoice Factoring in Illinois
Factoring is a readily available solution to your cash flow crunch. Whether you’re waiting 30, 60, or even 90 days to get paid there is a Illinois factoring company for you. Check out some of these other benefits from the factoring companies we work with:
- Flexible Funding Structure
- No Required Term Contract
- Fast Approval - Usually Within 48 Hours
- Improve and Increase Your Cash Flow
I started my security company in 2008 in Illinois. The following year I added investigative services to my offerings. The early years were spent growing and building the business. By 2012, I was winning both federal and state contracts. Although this grew my business tremendously, I was waiting 60 days or more to get paid on these contracts and was struggling to meet payroll. I did not qualify for any bank financing because I lacked assets to pledge for a loan. My banker suggested I look into an accounts receivable financing, possibly with a factoring company in Illinois. Factor for You matched me with a local factoring company that specializes in government contracts. I am now able to take on as many contracts as I can handle, knowing the funds will be advanced to me as soon as I perform on the contract.