Propel your business forward with automotive factoring
Drivers on the road today probably know the make and model of their most-current car, truck or SUV regardless of whether they drive a Ford, Chevy or BMW. Yet few know the names of the small businesses behind the big brands, the parts suppliers, manufacturers, distributors and others that are responsible for the complete production of the vehicle. Though these companies are not well known, hundreds of them across the country are involved in the larger car manufacturing process. These small firms might manufacture transmission components, engines and engine parts, body parts, fenders, rims, tires, electronics, braking systems, and steering and suspension components. They also comprise of the companies responsible for distribution and reselling, dealerships, and wholesaling. Even car and truck accessories, such as windshield wipers, floor mats, cup holders, car stereos, headlights, and dashboard-bobble heads, rely on small business suppliers. This is why more small business suppliers, manufacturers, and distributors are turning to automotive factoring.
Gear up with automotive financing companies
Despite their value to big auto manufacturers, it is a tough time to be in the automotive supply business. The larger industry was hit hard years ago by the Great Recession and, while recovering, cash reserves have been depleted. Business remains slow with suppliers heavily bearing the brunt of this decline. Slow business means slow payment from auto manufacturers but with vehicle factoring services, you can get the cash flow your business needs.
Get in the fast lane by factoring automotive suppliers
Fortunately automotive suppliers can get in the driver’s seat of their finances with options such as automotive industry factoring. If auto manufacturers, auto parts retailers, national dealerships and other large firms are your customers, you’re more than likely qualify for automotive industry factoring. By selling your unpaid invoices or purchase orders to automotive financing companies, you can collect on payment owed to you in only a few short days. This is several weeks sooner than the 30, 45, or even 60 days it would normally take.
The advantages of automotive industry factoring include:
- Be able to take on larger orders from new and existing customers
- Improve the supply chain movement
- Obtain a discount on materials by buying in bulk
- Improve cash flow so your business can operate efficiently with minimal waste
- Cover business operations costs, including overhead, payroll, insurance, materials, energy costs, equipment and more
- Gained peace of mind that comes from not having to worry about bill collection and receiving payment
The costs of working with automotive factoring companies fluctuate but they are generally between 80 to 92 percent of total invoice value. This cost covers the risk the automotive financing companies take on as well as for expediting invoice payment. Qualification terms can also vary but as long as your client has a good credit score, chances are good your company qualifies for automotive industry factoring.
Learn More About Automotive Factoring Companies:
- Finding the Best Invoice Factoring Company… for Your Business
- How Much Does Invoice Factoring Cost?
- Invoice Factoring: A Viable Option to Bank Loans
Search Our List to Find Auto Factoring Companies Near You:
Riviera Finance
1000 Mansell Exchange Building 300, Suite #340 Alpharetta, GA 30022
10320 Little Patuxent Pkwy Suite 200 Columbia, MD 21244
1925 18th Avenue NE Suite #115 Calgary, AB T2E 7T8
8307 University Executive Park Drive, Suite #250 Charlotte, NC 28262
17 W 415 Roosevelt Rd. Oakbrook Terrace, IL 60181
1333 Corporate Dr. Suite 117 Irving,TX 75063
8400 E. Prentice Ave. Suite 1500 Greenwood Village, CO 80111
11601 Pellicano Dr., Ste. B-5 El Paso, TX 79936
50 Harrison St. Suite #310-G Hoboken, NJ 07030
8410 N. Sam Houston Pkwy W Houston, TX 77064
3635 Quakerbridge Road Suite #4 Mercerville, NJ 08619
5870 SW 8th Street Suite # 6 Miami, FL 33144
3470 Washington Drive Suite #206 Eagan, MN 55122
3102 West End Ave. Suite 400 Nashville, TN 37203
4334 Northwest Expressway Suite 242 Oklahoma City, OK 73116
1 International Plaza Suite 550 Philadelphia, PA 19113
1029 H St. Suite 102 Sacramento, CA 95814
2025 Gateway Place Suite #370 San Jose, CA 95110
10430-1 Pioneer Blvd. Santa Fe Springs, CA 90670
1100 Dexter Avenue N. Suite #100 Seattle, WA 98109
2605 Enterprise Road East Suite #250 Clearwater, FL 33759
5780 Timberlea Blvd. Suite #103 Mississauga, ON L4W4W8
310 Airport Road Suite #500 Williston, ND 58801
1100 Dexter Avenue N. Suite #100 Seattle, WA 98109
800-872-7484
Great Plains Transportation Services, Inc.
923 N State St, Fairmont, Minnesota, 56031
(800) 324-8214
Graystone Capital (now SVBusiness Capital)
900 E Hamilton Ave #100,, Campbell, CA, 95008
(888) 370-7779
eCapital Freight Factoring
10100 W. Charleston Blvd Suite 220, Las Vegas, Nevada, 89135
800.705.1500
Robinson Factors, Incorporation
244 Fifth Avenue · Suite W226 , New York, New York , 10001
(212) 498-9756
Gibralter Business Capital
400 Skokie Blvd #375 Northbrook,, Northbrook, Illinois, 60062
(847) 272-9618
American Receivable Corporation
12655 N Central Expressway, STE 675 Dallas, Texas 75243
(800) 297-6652
ALLEGIANT BUSINESS FINANCE
600 university st.ste#2328 seattle, WA(Washington), Seattle, Washington, 98101
(866) 377-0800
Factoring Solutions
Suite 304, 320 - 12th Ave NE Calgary, AB, Canada T2E 1A4
5462 South Perimeter Drive Kelowna, BC, Canada V1W 5C6
403-452-6227
Nationwide Transport Finance
2650 Lake Sahara Drive – Suite 200, Las Vegas, Nevada, 89117
(800) 624-3353
Universal Funding
16201 East Indiana Avenue Suite 2600, Spokane Valley, Washington, 99216
800.405.6035
Stonebridge Financial Services
330 Franklin Rd, Suite 135A-592, Brentwood, Tennessee, 37027
(615) 661-8245
CarrierNet Group Financial
500 W 10th St, Sioux Falls, SD 57104, USA, Sioux Falls, South Dakota, 57104
(877) 747-2807
Merchant Factors
1441 Broadway, 22nd Floor New York, NY 10018
6750 North Andrew Ave, Suite 200 Fort Lauderdale FL 33309
(213) 347-0101
Liquid Capital of South Texas
11703 Huebner Rd, San Antonio, TX 78230, San Antonio, Texas, 78230
210.587.7267
Accord Financial Group
3500 Boul De Maisonneuve O Suite 1510 Montreal, QC H3Z 3C1, Canada
800-231-2977
Liquid Capital
5734 Yonge St. Suite 400 North York, ON M2M 4E7
5525 N MacArthur Blvd Ste 625 Irving, TX 55038
1-844-228-0800
New Century Financial
1725 Hughes Landing Blvd., Suite 965, The Woodlands, Texas, 77380
800-805-8380
Diversified Transportation Finance
3100 Pinebrook Rd. Suite 2200, Park City, UT, 84098
(801) 821-0355