Invoice factoring is a service that enables you to receive financing based on the invoice(s) submitted to the buyer. The buyer sometimes takes 30 days or more to pay you, thus invoice factoring helps you stabilize your cash flow, enables you to meet your operating expenses, and allows you to take on new orders.
HOW IT WORKS
Once you have provided goods or services to your customer, you submit an invoice for them to pay you. Sometimes your buyer delays the payment up to 30 days or more and thus you are unable to fulfill your current demands because of delayed payments; this is the point where you request financing from BeneFactors.
BeneFactors will verify the invoice with your customer, and determine if you meet eligibility criteria to receive financing. If BeneFactors decides to approve your business for factoring services, you will sign a financing agreement with them and will receive up to 70% of the invoice amount within 24 hours allowing you to continue providing your goods and services to your other customers. In due time, the customer that delayed payment will pay the full invoice amount to BeneFactors and then Benefactors will pay you the remaining balance up to 30% minus the fees for the factoring services offered.
To apply for factoring, fill this form and we will get back to you soon.