Media industry invoice factoring enables you to raise financing based on the value of your outstanding accounts receivable invoices. You'll find that factoring is a more flexible source of working capital than traditional bank loans and even overdrafts.
Factors will pay you for your media industry invoices and by doing so, will also take on your outstanding receivable invoices. This means you can receive funds quickly for invoices with longer terms that are not due to pay for some time. Typically you'll receive 85-90% of the total amount of the invoice immediately (called the advance) and the remaining percentage will be paid, minus the factors fees once the debtor (your customer) pays the invoice in full.
Factors have different costs, fees and interest they charge for getting you money quickly. Every factor is different and uses different variables to decide what you rate and terms will be, even what your advance amount will be. The best way to make sure you're getting a good deal and a fair offer is to submit your invoice using Factor Bid website or Factor App mobile app. You'll get a few offers from competing factor finance companies that are eager to earn your business. When the finance companies know they're competing for your business, they're going to be competitive in trying to win you as a new customer.
Factors assume the liability of collecting the receivable from your customers, and wait to collect payment on your outstanding invoices. The money they're providing you to cover for the money owed by your customer is not FREE. Factors typically have to borrow money too, sometimes at prime (interest rate) or higher. So it's recommended that you get a few offers for your media industry invoices when choosing which factor finance company is a good fit for your media industry company today!
How is Factoring your media industry invoices is different from a traditional loan from your local bank:
Talk to and get quotes from several factors before you make your decision. Factor bid quickly and easily matches you with factor finance companies that specialize in factoring your media industry invoices and are eager to buy your invoices for immediate cash. You can click on the 'submit invoice' button below to get started receiving competitive offers for your outstanding accounts receivable invoices. Stop waiting 30, 45 or even 90 days, get paid as soon as today!
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