New York Local Employee-Owned Factoring Company
What is Factoring?
Factoring is a financial transaction where a business sells its accounts receivable to a third-party company, known as a factoring company, at a discount. This process allows businesses to receive immediate cash for their outstanding invoices, rather than waiting for customers to pay. By leveraging factoring, companies can quickly access the funds they need to maintain operations, invest in growth, and manage their cash flow more effectively.
Benefits of Factoring
Factoring offers numerous benefits to businesses, including improved cash flow, increased financial flexibility, and reduced administrative burdens. By converting outstanding invoices into immediate cash, businesses can better manage their financial obligations and seize new opportunities for growth.
Improved Cash Flow
One of the most significant benefits of factoring is improved cash flow. By selling their outstanding invoices to a factoring company, businesses can receive immediate cash, rather than waiting for customers to pay. This influx of funds allows businesses to meet their financial obligations, invest in new opportunities, and grow their operations without the delays associated with traditional payment cycles.
Bankers Factoring is Your New York-Based Invoice Factoring Company
Are you a start-up or fast-growing company in New York needing working capital? Bankers Factoring funds throughout the Empire State with locations in New York City, Newark, Buffalo, and Rochester.
The City of New York, also known as “The Empire State,” is home to over 19 million residents, New York City, Times Square, Broadway, and the Statue of Liberty. New York is also known for its diverse city life, beautiful rural lands, and beaches on its coastline for water activities. Moreover, the Empire State provides a fast-paced life in the city and a work-life balance in the countryside. Locals love the lifestyle, which involves a vibrant social life, eateries, outdoor beauty, and diverse culture.
Bankers Factoring is proud to serve New York, its Capital, Albany, NYC, Long Island, New Jersey, and the surrounding areas with invoice factoring, payroll funding, and PO Financing. We also work with New York-based companies to remove cash flow obstacles and provide critical working capital to entrepreneurs.
New York is happy to seat over 50 Fortune 500 companies, including JP Morgan, Verizon, Citigroup, IBM, and PepsiCo. The economy of New York benefits from its presence in many industries, including banking and finance, insurance, transportation, manufacturing, and staffing and payroll. Plus, New York’s overall business environment is friendly, with a strong image for companies based in New York City. NYC has a reputation of prestige in the global marketplace for corporate headquarters.
Bankers Factoring is honored to help New York-based startups, entrepreneurs, and businesses with their cash flow needs. We customize an invoice factoring program that ensures adequate payroll funding and PO Financing.
Bankers Factoring takes pride in funding New York Companies and entrepreneurs with non-recourse invoice factoring and purchase order financing.
What makes the state of New York great for business?
- Its central location puts it at a logistical advantage.
- Low business operation costs
- Efficient transportation network
- Has a well-trained workforce
- It has low living costs and an excellent quality of life.
- And a business-minded educational reform
Bankers Factoring funds New York businesses in the industries of:
Coal & Minerals
Primary Metals
Chemicals
Plastics & Rubber
Health Care
If you’re growing your business in New York and your growth is causing cash flow issues, and you need working capital, Bankers Factoring is the perfect business partner.
Choosing a Factoring Company
Choosing the right factoring company is crucial for businesses looking to optimize their cash flow and financial stability. When selecting a factoring company, businesses should consider factors such as the company’s reputation, the cost of their services, and their industry expertise.
Factors to Consider
When choosing a factoring company, businesses should consider the following factors:
- Reputation: Look for a factoring company with a strong reputation and a history of providing reliable and efficient services.
- Cost: Compare the fees and charges of different factoring companies to ensure you are getting the best deal.
- Industry expertise: Choose a factoring company that specializes in your industry and has a deep understanding of your unique challenges and opportunities.
- Customer service: Look for a factoring company that provides excellent customer service and support.
- Flexibility: Choose a factoring company that offers flexible financing solutions that can be tailored to meet your specific needs.
By considering these factors, businesses can choose a factoring company that meets their needs and helps them achieve their financial goals.
Fast Funding
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Why Use Bankers Factoring In New York?
That’s because many entrepreneurs are attracted to New York’s great business climate. However, you’ll have many business competitors. And your business can’t compete and grow if you have issues with cash flow. That’s where a New York factoring company like Bankers Factoring can assist. How so? Because we offer invoice factoring and purchase order financing services, you can get unlimited working capital. Thus, no need to wait for 30-90 days to get funds. You will get immediate cash to fulfill your next order or deliver your services.
In addition, you don’t have to worry about customers who can’t pay. That’s the beauty of working with Bankers Factoring because we pre-approve your customers’ credit and provide you with credit protection.
Sadly, we have noticed through the years that whenever we decline an account debtor (your customer) for credit reasons, and our client sells them without credit protection from us, inevitably, our client takes a hit.
You will continue to satisfy your customers, and Bankers Factoring will provide unlimited, credit-protected working capital. With Bankers Factoring, your New York business will grow and outperform your competitors.
- We take the Credit Risk
- Discount Rates as Low as .75%
- $25,000-$10,000,000 Invoice Credit Line
- Credit Services & Risk Analysis
- Same Day Funding after Setup
- Apply Online in Minutes
- No Hidden Fees
- Selective Invoice Factoring-You pick which Invoices you Fund
- 24/7 Online A/R Reporting
Ready for Bankers Factoring to fund your New York company through invoice factoring services?
Call or go to our Bankers-Factoring Application
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