Bankers Factoring: Your Tennessee Factoring Company
Tennessee, the Volunteer State, is known for its friendly people who are always ready to help others. And that cooperative spirit is apparent in its pro-business climate that helps lift businesses up. This makes the state one of the best for starting or growing a business. Bankers Factoring is proud to offer non-recourse invoice factoring and PO Funding to Tennessee entrepreneurs.
In fact, Tennessee consistently ranks within the top 5 states that are considered best for businesses. CNBC, for example, puts Tennessee at number 5 in their recent America’s Top States for Business 2021. And for Business Facilities magazine, Tennessee comes in 3rd for Best Business Climate in 2020. And in last year’s International Economic Development Council (IEDC) Annual Conference, Tennessee is the number 5 state with the best business climate.
- No personal income tax on wages and salaries.
- A right-to-work state.
- A long history of fiscal responsibility
- Second lowest in the country for state and local tax taxes paid per capita, per The Tax Foundation.
- Rated Triple A by all major rating services.
- And a successful overhaul of our tort and workers’ compensation laws.
In addition, Tennessee also offers many tax incentives and business grants that appeal to starting entrepreneurs.
Bankers Factoring funds Tennessee Companies in the Industries of:
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PO Financing in Tennessee
Suppose you run a manufacturing business in Tennessee, and you receive a large purchase order. However, you don’t have the funds to buy the supplies you need to fill that order. In this situation, purchase order financing from Bankers Factoring is the solution you need.
And what is PO financing? It’s a B2B or B2G solution where we can buy the supplies for you. Alternatively, you can also use our credit to arrange terms with your vendor. And since you will be factoring the invoice for that order with us, we can provide the needed PO financing. As a result, you can deliver your promise to your customer.
To qualify for PO financing, you must:
- Sell to B2B or B2G Customers
- Your minimum gross margin 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 from your customers
The Bankers Factoring Advantage:
Being an employee-owned factoring company, we know how cash flow issues can set your business back. Thus, we provide the capital you need to keep working.
- 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