Alaska factoring companies buy your accounts receivable and advance you a percentage of the money. You receive the balance when the customer pays the invoice minus a fee. If your business has grown so much that your accounts receivable are much larger than your cash on hand, now’s the time to look for factoring companies. Alaska receivables factoring companies will buy your receivables and you’ll pocket much needed cash that you can then reinvest in your business.
You can also use an Alaska accounts receivable (A/R) factoring company if you want to expand your business. Rather than taking a loan and going into debt, sell your invoices to an Alaska factoring company to help your business grow. You can use the cash you receive to buy more inventory, hire more people or upgrade your equipment.
If you run an Alaska-based business, consider the following when looking for Alaska receivables financing:
1. Check out local Alaska A/R factoring companies.
2. Find an online factoring company to handle your Alaska business factoring.
3. Select a nationwide factoring company that does Alaska finance factoring.
Action Steps
The best contacts and resources to help you get it done
Check local Alaska invoice factoring companies to receive the personal touch
Use local factoring companies. Alaska based companies will provide more personalized service for your Alaska A/R factoring business than national companies.
I recommend: LSQ Funding Group, founded in 1996, works exclusively with small to mid-size businesses. They have representatives in Alaska.
Platinum Funding Group has representatives in Alaska and more than 15 years in the finance business. It offers factoring to all businesses.
Look for reliable online factoring companies that can handle your Alaska A/R factoring
When looking at online factoring companies you need to look at its history and the ease of approval by the factoring company. Also, take into consideration the rates the company charges for handling your Alaska accounts receivable (A/R) financing.
I recommend: Alliance One has account executives who have been in the finance business for more than 30 years. It specializes in factoring to small and mid-size businesses.
Crestmark Commercial Capital Lending, LLC has been in business since 1991 and provides Alaska A/R factoring to every size business.
CapitalPlus, founded in 1990, offers Alaska invoice factoring to any business. It offers up to 85% advanced rates, helps you build your credit and gives you much needed cash when you need it.
Find a national company that can handle your Alaska receivables financing
Even though local Alaska commercial factoring companies are likely to provide more personalized service, there are some excellent national companies that can handle your Alaska A/R financing.
I recommend: ONAN Commercial Lending is a division of ONAN Capital Holdings, Inc and provides financing to small and medium sized businesses nationwide.
Rexford Funding is a nationwide company that has account executives who have been in the finance business for more than 30 years. It is committed to bringing Alaska A/R financing to small businesses.
Tips & Tactics
Helpful advice for making the most of this Guide
- Getting a loan in Alaska is difficult for new businesses. Alaska factoring companies offer you an alternative since factoring is not a loan, and your customers' ability to pay is the basis of your approval.
- Make sure you understand the terms of the Alaska factoring company that you decide to engage. The amount of the advance on your accounts receivable can vary from 65% to 97%, and the fees vary from 1% to 3% of your receivables.
The official source of Alaska Factoring Companies is
the Alaska Factoring Companies page at Business.com
Related Resources from Business.com
Best Sites to Learn More
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