COMMERCIAL CLEANING COMPANY FINANCING
Funding for the Commercial Cleaning Service Industry
Table of contents
- Financiación de Compañías de Conserjería
- Funding for the Commercial Cleaning Service Industry
- Commercial Cleaning Company Factoring Summary
- Cleaning Company Factoring
- Cleaning Business and Janitorial Factoring for:
- In this article on Cleaning Company Financing, we cover the following:
- Janitorial and Cleaning Industry Financing
- Ready for the owner-employees of Bankers Factoring to grow your janitorial business with a safe credit term offering through Invoice Factoring? Use our fast online factoring application or call the toll-free number 866-598-4295
Commercial Cleaning Company Factoring Summary
Janitorial Company factor financing helps remove the burden of cash flow gaps. Also, cleaning factoring overcomes the extended credit terms janitorial customers demand. And janitor factoring financing is dependable for injecting steady liquidity into your cleaning service business. In addition, janitorial funding helps growing cleaning businesses focus on sales, marketing, and operations rather than collections, bad debt control, and business financing.
Cleaning Company Factoring
If you need money for payroll, business insurance, cleaning supplies, and operating expenses, Bankers offers same-day cleaning company funding versus waiting 30 to 60 days for invoices to pay. We are startup friendly, as your factoring facility is based on your customer’s credit rating, not yours, unlike a bank business loan. Banks send us their small business owner customers who can’t qualify for SBA loans for cleaning companies, who, once they are set up with a Bankers Factoring company facility, get funding in 24 hours for their cleaning service business with our simple application process.
Commercial Cleaning Service Industry Financing
The global contract cleaning market is worth over $250 billion and is expected to hit $329 billion by 2026 (Globe Newswire). However, janitorial companies providing services on extended credit terms have rigorous monthly overhead to cover, including labor and staffing, supplies, and equipment. And with immense opportunities, the commercial cleaning industry is saturated with franchisees, startup cleaners, and small players.
Lack of access to financing solutions typically hurts commercial cleaning companies looking to expand operations or with increased resource demands. But cleaning factoring financing is an alternative form of funding for janitorial cleaning companies to cover payroll financing and business expenses.
Janitorial Factoring for Startups and Fast-Growing Commercial Cleaning removes the burden of securing business funding.
Bankers Factoring understands the various segments and markets within the commercial cleaning industry. Moreover, we have worked with work with janitorial and cleaning service companies in the following areas:
Cleaning Business and Janitorial Factoring for:
- Floors and Carpets
- General facility maintenance services
- Day porters and building service
- Commercial office building
- Window cleaning
- Medical and Hospital facilities
- Corporate Campus
- College Campus
Janitorial industry funding does not need to be difficult for startups, small businesses, and owned and operated franchises. And Bankers Factoring provides fast working capital to commercial cleaning janitorial companies that do not yet qualify for bank cleaning service loans or lines of credit. So, contact Bankers Factoring to discuss a commercial funding plan for your cleaning company.
In this article on Cleaning Company Financing, we cover the following:
- Janitorial and Cleaning Industry Financing
- Commercial Cleaning Company Factoring Financing
- Improve Cash Flow by Factoring Financing
- How Does Janitorial Factoring Work?
- What if my commercial janitorial cleaning company only invoices once per month?
- Bankers Factoring Janitorial Industry Factoring
Janitorial and Cleaning Industry Financing
Funding for cleaning service companies comes with capital-intensive activities. And the main expenses and costs for commercial cleaning companies include staffing, materials and supplies, equipment, vehicles, and overhead expenses. It can also become difficult for rapidly growing janitorial companies with large commercial clients to keep up with the weekly volume of costs.
Running out of funding is expected for startups and small cleaning businesses. Janitorial factoring financing helps remove the burden of cash flow gaps. Cleaning factoring allows for overcoming the extended credit terms janitorial customers receive. Instead of waiting for 30, 60, or even 90 days for customer payment, factoring financing accelerates cash flow funding today.
Small business loans for commercial cleaning and janitorial companies are difficult to qualify even at these high interest rates. Commercial Cleaning factoring at Bankers has an almost 100% approval rate.
Learn more in our previous article, “How to Start and Finance a New Cleaning Company.”
Commercial Cleaning Company Factoring Financing
Factoring financing is a quick cash flow transaction by selling unpaid invoices to Bankers Factoring, a factoring company. Commercial cleaning service contracts typically require extended payment terms, which need the cleaning company to have working capital. Companies lacking the funding to keep up with business demand utilize cleaning factoring financing to overcome cash flow obstacles.
Offering credit terms with factor finance often improves the janitorial company’s ability to win a large service contract. Factoring financing provides cash flow funding that enables commercial cleaning janitorial companies to offer such significant terms. Without janitorial accounts receivable (AR) financing, your company’s cash flow would constantly be negative.
Improve Cash Flow by Cleaning Business Factoring Financing
Cash flow management is not the strength of janitorial company operators. Still, with cleaning factoring financing, your unpaid invoices turn into same-day AR financing. Bankers Factoring designs a working capital plan to fund your commercial janitorial business and improve cash flow. Factoring financing is reliable for injecting steady liquidity into your cleaning service venture.
Cash flow becomes tight in the janitorial industry when cleaning companies have shorter payable terms than their extended customer credit terms. When you have to pay employees and vendors months before your customer pays, it causes funding problems. Factoring financing helps companies unable to secure traditional financing improve cash flow.
The total time from submitting an online funding application to cash financing is 3 to 5 days. Factoring invoices does not take months to provide commercial funding like bank financing. We help unbankable businesses secure fast working capital.
How Does Janitorial Factoring Work?
Invoice factoring begins with your funding application which provides us with your current AR invoices and AR aging summary report. We provide a factoring line based on a couple of crucial pieces of data:
- Your average monthly receivable volume and total value
- The credit profile of your customers
- The general risk associated with the commercial cleaning industry
- Completed Funding Application
Once our team of funding specialists approves your cash flow financing program, we provide an initial cash advance of up to 93% of your total AR value. The second cash disbursement in your cleaning factoring agreement is the rebate or your remaining balance less the same factoring fee.
Janitorial factoring helps growing businesses focus on sales, marketing, and operations rather than collections and business financing. Bankers Factoring acts as your credit and accounts receivable department. We create new efficiencies within your accounting and finance departments.
Learn more in our previous article, What is Invoice Factoring? How does it Work for small business owners and their cleaning services?
What if my commercial janitorial cleaning company only invoices once per month?
Once-per-month billing is not an issue with Banker Factoring Janitorial Company Pre-Billing Factoring. Commercial cleaning clients get funded weekly even when they invoice their customer, the account debtor, once per month. When your commercial janitorial company renders services, create an invoice to factor your delivered services. The prebilling process eliminates the two-month wait for payment after providing cleaning services. Use your flexible cleaning business line of credit based on your good B2B and B2G invoices.
Turned down for small business loans from multiple traditional banks and credit unions? We have special funding programs for cleaning and maintenance start-ups and those with business owners with bruised personal credit. Your cleaning services business doesn’t have the real estate collateral banks like when applying for an SBA loan. We value your accounts receivable up to 90% when giving you a cleaning company business line of credit.
Bankers Factoring Janitorial Industry Factoring
Bankers Factoring provides AR factoring financing in the competitive commercial cleaning industry. Throughout the COVID era, companies, properties, and facilities have increased their commercial contract cleaning services. Small cleaning companies, startup janitorial firms, and rapidly growing businesses needed fast funding solutions. Keep up with weekly payables with cleaning company payroll funding. Not-yet-bankable commercial janitorial companies can overcome cash struggles with Bankers Factoring invoice financing for your cleaning business.
A factoring line with Bankers is cheaper than swiping a credit card and their interest rate charges, and besides unlimited working capital, it comes with award-winning customer service for your cleaning service business.