Factoring Facility: $100,000-$4,000,000+ | Advance Rates: Up to 90% of A/R
To speak with an invoice factoring expert, call (800) 200-1208.
Industries We Proudly Serve
WORKING CAPITAL THAT WORKS
Our core product, Invoice Factoring, uses your company’s receivables as collateral, letting you harness the latent cash flow in your unpaid invoices. We often provide up to 90% advance rates on those invoices, giving you the cash flow to keep your business in play. When working capital is tight, Invoice Factoring can be a key part of your ongoing cash flow strategy. Summit can provide invoice factoring for up to 90% against your invoices, making it easier to pay suppliers, take on new orders, and make payroll.
INVOICE FACTORING HIGHLIGHTS
- Uses receivables as collateral
- Up to 90% advance rates
- Immediate cash flow
What Is Invoice Factoring?
How Does Invoice Factoring Work?
Invoice factoring creates cash flow from unpaid customer receivables. With invoice factoring, a business can access their unpaid invoices at a discounted rate to keep cash flowing to their bank account. Also known as accounts receivable factoring, invoice factoring is best for business owners who have customers that do not pay for their goods or services immediately, in industries like manufacturing and service where they are selling customers a tangible, completed good or service.
QUALIFYING FOR INVOICE FACTORING
Businesses that invoice customers for goods and services that can be verified as “completed” are ideal candidates for invoice factoring. Another key element for qualification is good credit, including a clean financial and tax background. If your business covers these qualifications, then you may be well on your way to get the cash flow your company needs from invoice factoring!
APPLY FOR INVOICE FACTORING TODAY!
Many lenders and banking institutions will require you to fill out difficult paperwork to get the cash flow you need for your business. Summit Financial Resources team members are experts at making the process as simple as possible, so you can get the invoice factoring that will help your company grow. Apply online today >
STEP 1 – INVOICES INTO CASH
Your business has outstanding B2B invoices from creditworthy customers, and you need increased cash flow now.
STEP 2 – CASH IMMEDIATELY
Once your business invoices are verified, Summit Financial Resources typically wires 80-90% of your qualifying open invoices.
STEP 3 – REPEAT
Repeat when you have new invoices for unlimited working capital so your business has the cash it needs to grow!
|Invoice Factoring||Asset-Based Loans (ABL)||Inventory Financing||Equipment Term Loan||Small Business Loan||Stretch Financing|
|Description||Receivables Purchase||Borrowing Base Certificate||Add-on only||Add-on only||Revolving Loan, |
|Structured Stretch Piece for |
Growth; Add-on only
|Facility Limits||$100M - $4MM||$1M - $4MM||Up To $1MM||Up To $1MM||$200M||<$250M|
|Risk Profile||Higher, with Underwritten |
Collateral & Controls
|Lower, Strong Reporting |
|Higher with Underwritten Exit||Higher, Short-term with |
|Higher, less restrictive with |
standardized pricing and controls
|Higher, Short-term with |
|Pricing Components||Collateral Mgmt/Admin |
Fee + Interest
|Interest + Various Fees||Interest + Admin Fee||Interest + Admin Fee||Admin Fee + Interest / |
Collateral Management Fee
|Flat, Monthly Discount Fee|
|Advance Rates||Up to 90% of A/R||Up to 85% of A/R||Up to 50% of Inventory Cost||Up to 60% of NOLV or 40% |
of Book Value
|Up To 100% of A/R||n/a|
How Invoice Factoring Compares
Take a look at our offerings, and see how we can help. We offer companies Invoice Factoring loans from the low 6 figures to 7 figures, plus. From higher reporting to lower risk, and borrowing base to invoice factoring purchase, somewhere on that chart is a cash flow solution for your business.
You need to grow?
Summit can help.
Your small business payroll is due tomorrow, but your biggest customer has outstanding invoices. A vendor tells you he will give you a cash discount, but you don’t have the extra cash to take advantage of that discount. Is your business falling behind because your clients are falling behind? Do late payments cause you to miss out on product launches, supplier discounts, and bigger orders? Do you need to smooth out your company’s cash flow in order to remain competitive?