Running a successful business comes down to a few key factors; the most important one is cash flow. Factoring is a type of alternative financing that allows you to take control of your cash flow by selling your accounts receivable to a third party (also known as a factor) to obtain immediate working capital. Now, instead of waiting for your customers to pay based on 30-, 60-, or even 90-day terms, you get cash immediately, and the factor collects the payment later.
The factoring process is straightforward and simple:
Most importantly, with a more reliable – and accelerated – cash flow, it becomes much easier for your business to grow!
Factoring is fast
The funding process can take as little as 24-48 hours, from application review to finalizing legal documents.
Your customer’s credit is the focus, not yours
Have no credit or poor credit? Sky doesn’t care about your personal credit score or how long you’ve been in business. We care how creditworthy your customers are.
Factoring is flexible
You don’t have to factor invoices for every customer. It’s adaptable to your business’s unique needs, and it can scale with your business. We’ll grow along with you!
If you’re ready to factor, we offer an easy 5-step approval process:
Step 1: Complete a free, no-risk application
Step 2: Sky will issue you a proposal of terms, that includes pricing and other terms of your credit facility
Step 3: Review and sign the proposal
Step 4: We’ll request a few additional documents from you so that we can do our due diligence on your customers
Step 5: Funding is finalized!
Sky Business Credit can move as quickly as you need. Please reach out to learn more about factoring and discuss if this financing is a good fit for your business.