Factoring companies in North Carolina 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. North Carolina 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 a North Carolina invoice factoring company if you want to expand your business. Rather than taking a loan and going into debt, sell your invoices to a NC 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 a North Carolina-based business, consider the following when looking for North Carolina receivables financing:
1. Check out local North Carolina factoring companies.
2. Find an online factoring company to handle your North Carolina receivables factoring.
3. Select a nationwide factoring company that has factoring companies in North Carolina.
Action Steps
The best contacts and resources to help you get it done
Check local North Carolina factoring companies to receive the personal touch
Use local factoring companies. North Carolina based companies will provide more personalized service for your North Carolina business factoring than national companies.
I recommend: Riviera Finance is located in Charlotte, NC and guarantees 24-hour funding. They have been in business for almost 40 years.
US Funding Inc offers flexible factoring service and up to 85% advanced rates. They are located in High Point, NC.
Look for reliable online factoring companies that can handle your North Carolina 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 North Carolina 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 North Carolina A/R financing to every size business.
Find a national company that can handle your North Carolina receivables financing
Even though local NC factoring companies are likely to provide more personalized service, there are some excellent national companies that can handle your North Carolina receivables 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 North Carolina invoice factoring to small businesses.
Tips & Tactics
Helpful advice for making the most of this Guide
- Getting a loan in North Carolina is difficult for new businesses. Factoring companies in NC 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 factoring company in NC 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 5% of your receivables.
The official source of North Carolina Factoring Companies is
the North Carolina Factoring Companies page at Business.com
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