Many businesses may be able to convert their unpaid or slow-to-pay outstanding invoices into cash through factoring.
Factoring companies offer to advance 80% to 90% of the total invoices for fees typically ranging between 1% to 2.5%. Invoices are transferred to the factoring company where they then collect and extract their fee from proceeds. Collected funds after the fee are then passed back to the business.
The below article provides a recent review of some of the top factoring companies:
https://fitsmallbusiness.com/best-factoring-companies-hartford/
Scott F. Soape
