The technology industry continues to change at a rapid pace. Applications, systems and jobs that didn’t even exist ten years ago dominate the technology landscape, putting companies in the high-tech field in a strong position to maintain their operations and grow their business. Technology factoring is a popular alternative financing solution for firms looking to improve their working capital.
While the owners of tech companies often have great ideas, solid business plans and a pipeline of clients, they may face cash-flow challenges. Whether you’re selling software, developing mobile apps, or offering consulting services, it’s not uncommon for companies in your industry to wait 30, 60 or even 90 days for payment for services completed.
To keep cash flowing into their businesses during the weeks and months before customers pay their invoices, many tech company owners choose technology factoring for their accounts receivable. In this process, the tech company sells their outstanding invoices at a small discount to a factoring company that works with technology businesses. In exchange, the tech company receives a large percentage of what they are owed right away – without delay.
Technology factoring is a no-debt solution to cash shortfalls for rapidly growing companies in need of working capital to keep up with payroll and expansion. Factoring is an advance, not a loan, so when you factor your invoices, you incur no additional debt. At Interstate Capital, an industry-leading factoring company that has helped more than 10,000 companies with their cash flow needs, clients get paid fast. While some technology firm owners may be tempted to run up their credit cards or use high-interest merchant cash advances in an effort to get money immediately, Interstate Capital also speeds up the funding process. The Interstate Capital team of factoring professionals strives to advance you the funds you’ve earned on the same day that you submit your invoices.
The Benefits of Technology Factoring
Clients enjoy a number of benefits with Interstate Capital – benefits that are missing with traditional bank loans and online loans.
- Same-day funding, with free direct deposit into your bank account
- Low factoring rates and high advances
- Dedicated account manager who gets to know you and your business
- Professional and courteous collections services so you can spend time managing your growth instead of making collections calls
- Helpful online client portal for tracking payments and generating real-time reports
- In-house credit experts to protect your company from business losses with customers that don’t pay
When you’re ready to take your technology company to the next level of productivity and profits, contact the financial experts at Interstate Capital for technology factoring. Interstate Capital closes the gap between finishing your work or meeting your deliverables deadlines and getting paid. With Interstate Capital advancing you funds on your invoices, you can ensure that your staff is always paid on time and that you can continue to grow your technology industry business. To find out how factoring services can help you become more profitable, start with an instant factoring rate quote today.