Access to capital is of paramount importance when you’re trying to expand or grow your small business. Thanks to digital technologies, the pace of business has never moved faster. Whatever industry your business is in, it needs to be able to respond quickly to change in order to stay ahead of the competition.
Minnesota Factoring Companies For Every Industry
Minnesota-based invoice factoring companies can give local and regional small- and medium-sized businesses the boost of capital they need to remain competitive and grow. Whether your business is in agriculture, food manufacturing, general manufacturing, information technology, healthcare services and more, you can partner with an accounts receivable financing companies in Minnesota for fast capital.
Though factoring receivables might sound like a new business financing option, it has actually been around for hundreds of years. With several invoice factoring companies located in the Twin City region, you are bound to find a company that’s right for your business.
Factoring is a way your business can get capital for its existing receivables. Instead of waiting 30+ days to receive payment from a client, you can collect payment in a matter of days by partnering with freight factoring companies in St. Paul.
Flexible Funding on Unpaid Invoices
The financing option of factoring is not a loan and it is not offered at most small-sized banks. It is a specialty product offered only by accounts receivable financing companies in Minnesota and around the world. Factoring is ideal for small to medium sized businesses, such as distributors or suppliers who have large Fortune 500 companies as clients.
That is, if your business has high-value clients with large net worth and solid credit histories, your business is a candidate for factoring receivables. This is true even if your business has a less than perfect credit store, is new and has yet to establish itself, or has experienced flat-growth periods.
Want a Midwest Friendly Freight Bill Factoring Company?
Several accounts receivable financing companies are located in and around the Minneapolis region so you can perform your due diligence to find the company that is right for you. You can find small Minnesota-based invoice factoring companies as well as national companies that have offices in the state.
Specifically, if you are in the trucking and transportation sector, you can find freight bill factoring companies that are familiar with the funding plights of running a Minnesota-based trucking company.
For example, Fairmont-based Great Plains Transportation Services is a freight factoring company known for providing little extras to its Minnesota-based trucking and transportation customers. Located about two and a half hours southwest of Minneapolis, about an hour south of Mankato, and about 15 minutes east of Welcome, Minnesota – we’re in the friendly Midwest after all – this home-grown freight factoring company is a favorite for seasoned truck drivers and newbies alike.
You can Factor Almost Any Amount Locally
On the other side of the spectrum, you can find accounts receivable financing companies in the Twin City area suitable to more established businesses, including those that finance more than $250,000 a month in receivables. Many small or new-to-the-scene invoice factoring companies in Minnesota may not have the capital required to support that level of financing so again, it is worth your time to perform your due diligence and search around.
Riviera Finance, one of the nation’s most established invoice factoring companies, has an office in Eagan, MN southeast of Minneapolis. It has the financial depth to support several hundred thousand dollars a month in receivables financing and serves just about any industry you can imagine. Even though it is one of the largest invoice factoring companies in the nation, it takes pride in working with small businesses and taking the time to explain the details of factoring.
10800 Lyndale Ave S Suite 365, Bloomington, Minnesota, 55420
8970 W 35W Service Dr NE Suite 100, Blaine, Minnesota, 55449
923 N State St, Fairmont, Minnesota, 56031
2751 Hennepin Ave, Minneapolis, Minnesota, 55408
5401 Gamble Drive Suite 200, Minneapolis, Minnesota, 55416
3470 Washington Drive Suite #206 Eagan, MN 55122
12270 Nicollet Ave South, Burnsville, Minnesota, 55337
7600 Wayzata Blvd, Minneapolis, Minnesota, 55426