Bankers Factoring: Your Local South Dakota Factoring Company
South Dakota, the Mount Rushmore State, is home to over 85,000 small businesses. The vast state is occupied by the major cities Sioux Falls, Rapid City, Aberdeen, Brookings, and Pierre. South Dakota is known for its friendly Midwest feel, high employment rates, and quality healthcare. Bankers Factoring is proud to be the leading South Dakota Accounts Receivable Factoring Company helping businesses solve their cash flow problems.
South Dakota is an excellent location for outdoor activities such as hunting, fishing, hiking, and farming. The economy is driven by agriculture, mining, power, manufacturing, and transportation. With no state income tax, below national average sales tax, and affordable housing, South Dakota is excellent for young professionals, growing businesses, and entrepreneurs. Bankers Factoring is proud to provide South Dakota-based companies with cash flow solutions such as accounts receivable factoring and PO Financing.
Bankers Factoring finances South Dakota Businesses in the Industries of:
Grow your business in South Dakota using a South Dakota factoring company, Bankers Factoring. We offer invoice factoring and purchase order financing so you can turn your invoices into instant cash and your purchase orders into salable products.
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PO Financing in South Dakota
With South Dakota being a logistic hub for many fast-growing industries, not having funds to fill an order can happen. Additionally, having cash flow problems in your business is not conducive to growth. What you need to keep growing your business is purchase order financing.
Purchase Order (PO) Financing is a B2B or B2G solution where a PO financing company like Bankers Factoring can buy the supplies you need or use our credit to arrange terms with your vendors. With PO financing, you can get to work and deliver your promise to your client. And since you also plan to factor the invoice for that order, we can offer you the PO financing you need.
What is the difference between invoice factoring and PO financing? It lies in when each is utilized. Invoice Factoring is used after you have sold and delivered your goods and services. PO funding is used to buy or finance the purchase of finished goods so they can be shipped to your customer, the Account Debtor.
To qualify for PO financing you must:
- Sell to B2B or B2G Customers
- Your Minimum gross profit must be at least 20%
- Have experience with similar products and comparable clients
- Transactions per month of no less than $50,000
- Provide qualified purchase orders or letters of credit form your customers
The Bankers Factoring Advantage:
As an employee-owned factoring company, we are familiar with how cash flow problems can set a company back. We provide the help you need to fulfill your promises to your customers.
- We take the Credit Risk
- Discount Rates as Low as .75%
- $25,000-$10,000,000 Invoice Credit Line
- Same Day Funding after Setup
- Apply Online in Minutes
- No Hidden Fees
- 24/7 Online A/R Reporting
- Credit Services & Risk Analysis