Why you need factoring!
When cash flow slows, it hurts your business’s ability to grow. How often have you not been able to pay bills, fund payroll and have to dodge suppliers who are calling asking for payment? It happens every month for all growing businesses.
You are making sales but your receivables are keeping you from expanding your business. What if you could get paid today for the work you have just completed? Would your business grow and expand? You need Mid-Continent Financial Services to immediately buy your accounts receivables.
Mid-Continent will be your cash flow engine. The process is called “factoring”, and in the simplest terms, it means Mid-Continent advances you up to 90% of the invoice amount immediately, and gives the remaining balance when your clients settle in full.
Invoices can be submitted for factoring directly upon completion of the work or product delivery. Revenue flows directly and instantly to you without delays. No collection hassles. You are not taking on any debt with factoring.
We can often assume all credit risk and responsibility for client payment. In return, Mid-Continent receives a small fee at the end of the process. Set-up time can be as little as two or three days and you are not locked into a long-term contract.
Mid-Continent allows you the flexibility to factor only when you need it, and as often as you like. We base our approval decisions on your customers’ ability to pay, and not the credit of your growing business. Ask us about our invoice and purchase order financing.
Let us know how we can help.