At Park Funding Solutions, we understand you need a financing solution that is flexible enough to expand with your growing business.
To assist you, we offer accounts receivable financing (also known as invoice factoring). This service is available to businesses or various sizes and industries, and is a valuable tool in keeping your business competitive and thriving.
We can help you collect on large or ungainly accounts and provide cash to pay your vendors on time or to cover payroll. We'll partner with your staff to manage the collection of your accounts receivable.
Whether you need cash on hand to pay vendors or cover payroll, by signing up for accounts receivable financing with Park Funding Solutions, you can exchange outstanding invoices for cash to help you keep your business running smoothly.
How Does Factoring Work?
Once you sign up for invoice factoring, it's easy for you to get the funds you need, when you need them. This all happens in just a few easy steps:
1. You perform a service for a client and you send us the invoice.
2. We provide you with a cash advance on your invoice.
3. We collect the full payment of the invoice from your client.
How Does Accounts Receivable Financing Benefit You?
There are many benefits to signing up for invoice factoring besides getting an advance on your invoices. When partnering with Park Funding Solutions, we will use our multi-faceted system to review your client's credit profile and help you assess a new client prior to working with them.
Also, we are an established banking institution, allowing us to provide extremely competitive pricing compared to other private factoring firms. With us, you can receive the cash you need with lower rates than most factoring companies.
Other benefits include:
- The ability to free up time and money for your business
- Receiving up to 90% of an invoice
- Additional financing as your receivables grow
- No loss of equity
Park Funding Solutions is a recourse factor. Learn more about recourse vs. non-recourse factoring.