Hotel Casino and Gaming Industry Working Capital Solutions

Hotel and Casino Vendor Business Funding
Whether you supply playing cards, poker chips, gaming machines, poker cloth, linens, or any other essential hotel or casino product or service, your hotel and casino vendor business is what keeps casinos running smoothly.
The casino vendor market is highly competitive, and major vendors often run the game. These large vendors may not have any issues dealing with slow payment. However, smaller gaming vendors are not as well-equipped to deal with this common issue. When traditional bank loan criteria are becoming more and more difficult to meet, it is often the smaller vendors who are in the most need of funding who have the most trouble being approved.
For advice on what to do when youโve been denied a business or bank loan, read our article how to obtain financing after business loan denial and our programs offered.
Casino Vendor Factoring for Small Businesses
There is an alternative option that provides a solution to this problem: invoice factoring. With invoice factoring, securing safe, reliable funding for smaller casino vendors is easily achievable and in reach. With a simple, easy approval process with minimal requirements, your gaming vendor company can leave behind the headache of being approved for traditional loans and breeze through approval.
Factoring your invoices with an invoice factoring company like Bankers Factoring means that immediate, simple financing solutions and improving cash flow are always within your grasp. A non-recourse factoring line of credit can be your lifeline.
Learn more about how factoring companies buy accounts receivable.
What Does Selling Invoices Do For Casino Vendor Businesses?
As a unique and innovative alternative funding option, there are many aspects of invoice factoring that make it as accessible and beneficial as it is for casino vendors. When being approved for invoice factoring, it is not your credit that is needed for approval but your clientโs. No matter your credit score, it will never be a barrier to receiving invoice factoring.
Not only is it highly accessible, but the process of invoice factoring is also extraordinarily quick: after our simple approval process, we will provide you with a remarkably short turnaround of same-day casino vendor funding after approval, and you can be funded within 24 hours.
Common Funding Issues for Hotel and Casino Vendors
A common issue for companies seeking funding is running into high interest rates and factoring fees. However, unlike other invoice factoring companies, especially Bankers Factoring, our rates are low, affordable, and cheaper than swiping most business credit cards. With our clear terms and zero hidden fees, our fees are so simple that you can calculate them on a napkin.
Many businesses seeking funding also often worry about giving up equity or ownership. However, this is never the case with invoice factoring, and you can maintain full control over your operations. We will also never restrict where you can use your funding; your gaming vendor business is free to use it wherever you see fit. There is also no limit to invoice factoring, and with our finance program, you can factor as many invoices as needed.
Learn more with our comprehensive guide to our accounts receivable financing programs.
How Does Invoice Factoring Work for the Hotel and Casino Industry?
How does invoice factoring actually work? Itโs simple.
Once your casino vendor business has successfully completed a sale to a casino and satisfied its needs, an invoice is now created. These invoices are often on 30 day payment terms, or even up to 90 days, putting a strain on your finances and creating gaps in cash flow while you are waiting for customers. You can now take these unpaid invoices and solve the slow customer payment issue by selling your accounts receivable to an invoice factoring company like Bankers Factoring.
When you have sold your invoice to us, we will send you an immediate cash advance of up to 80-93%. You are now free to use this injection of working capital anywhere you need it. Then, using our famous Bankersโ light touch, we will collect the payment from your customers ourselves, taking this burden off your hands. Once we have received the payment from your customers, we will forward you the rest of the reserves.
This has now completed the accounts receivable factoring process, and you have successfully secured safe, reliable, and immediate funding. Got more questions? Have them answered with our invoice factoring FAQ.
Bad Debt Protection With Non-Recourse Gaming Factoring
There is only one thing worse than not making a sale: making the sale and not getting paid. If a casino you are working with fails to pay due to bankruptcy or insolvency, this non-payment can prove to be detrimental to your business, especially if you are already dealing with financial struggles and gaps in cash flow. Wondering if your customer will pay or not can feel like a gamble you donโt want to take.
Thankfully, Bankers Factoring offers something truly unique to your gaming vendor company: bad debt protection from non-recourse factoring. Non-recourse factoring means that if you are met with non-payment from your client, we will absorb this loss for you, protecting you from bad debt and taking on all the credit risk. Not many factoring companies offer this service, and Bankers Factoring is proud to provide true security and peace of mind to your casino vendor business.
Learn more about bad debt protection.
Why Work With Bankers Factoring for Hotel and Casino Invoice Factoring?
There are many invoice factoring companies across the United States that your gaming supplier business can choose from. However, we believe that our award-winning services at Bankers Factoring sets us apart.
With over 20 years of experience in the factoring industry, the owner-employees of Bankers Factoring truly understand your needs and work to see you succeed. We are excited to welcome you into the family and support you along your entrepreneurial journey.
Learn more about why Bankers Factoring for your casino vendor business is your best choice among invoice factoring programs from Miami to Las Vegas.
Bankers Factoringโs Casino Vendor Funding includes:
- Bad debt protection with non-recourse factoring
- Immediate, same-day funding after approval
- Bridging and solving gaps in cash flow
- Clearly defined terms and zero hidden fees
- Low rates are similar to swiping a business credit card
- Fees that drop as your business grows
- Credit approval based on your client instead of you
- We take on the credit risk
- Access to our decades of knowledge and expertise
- The Famous Bankersโ light touch with your clients
- 24/7 online reporting portal
- Greater accessibility than traditional loans
- SBA loan turndown specialists