Bankers Factoring: Your Local Utah Factoring Company
Utah, known as the Beehive State, is home to roughly 3.3 million residents and home to well-known corporations like Zions Bancorp, Overstock.com, SkyWest, and many others. Salt Lake City is in the top 20 percent when it comes to financial responsibility, according to a WalletHub study.
Out of the 150 biggest U.S. cities, Salt Lake City tied for 29th based on income, employment, economic mobility, house prices, commute time, credit scores, emotional and physical wellbeing. Bankers Factoring is proud to be the leading Utah Accounts Receivable Factoring Company helping businesses solve their cash flow problems.
The economy of Utah is a diversified economy covering industries such as tourism, mining, agriculture, manufacturing, information technology, finance, and petroleum production. Utah is considered an excellent state for start-ups or new businesses, with great upstarts like Tranont with revenues of $11.4 million. The Silicon Slope is the right place for a start-up company in Utah, where you can explore other areas like finance, tourism, and manufacturing.
There are plenty of incentives and benefits made available through various programs orchestrated by the state government and local agencies. The incentive programs are integral to Utah being named Forbes “Best State for Business” for a third consecutive year. Bankers Factoring is proud to provide Utah-based companies with cash flow solutions such as accounts receivable factoring and PO Financing.
Bankers Factoring finances Utah Businesses in the Industries of:
Grow your business in Utah using a Utah 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 Utah
With Utah being an energy, tech, and 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 in Utah:
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