BusinessCash is funding during the COVID-19 crisis.

Factoring in Florida

Need working capital now? Have you invoiced your customer and can’t wait 30, 60 or even 90 days for your money to be paid?

We can help get your money into your hands immediately with Non-Recourse Invoice Factoring and PO Funding for Florida companies. Fast, efficient and affordable.

  • Receivables financing gives FL business up to 92% cash advanced. Receive the balance when your client pays in full
  • Turn your invoices into cash in as little as 24 hours
  • Bad credit? No problem. We look at the credit of your client, not yours
  • Tax issues? You can be financed
  • Credit protection with every factoring program
  • Tallahassee Government Contractor Invoice Factoring & PO Funding Programs

Where do you Fund in Florida?

We have proudly funded the Sunshine State with Invoice Factoring, Accounts Receivable Financing and PO Funding since 1998. We understand the unique cash flow needs of Florida-based companies. For over 20 years, we work with companies from every corner of Florida, from:

  • Miami
  • Orlando
  • Jacksonville
  • Jupiter
  • Tampa
  • St Petersburg
  • Tallahassee
  • Daytona Beach
  • Lakeland
  • Naples
  • Ft. Lauderdale
  • And dozens more Florida cities and companies

What is Invoice Factoring and How it Helps FL Companies

Non-recourse accounts receivable factoring is an effective financing method for Florida small to medium businesses to access immediate working capital. AR factoring is the selling or assigning of your unpaid invoices to creditworthy clients to a factoring company. Once your invoices are verified and assigned to the factoring company, a factor will advance you up to 92% against your invoices. You will receive the remaining balance once your customer has paid minus low-cost fees. Non-recourse lowers risk in case of client bankruptcy. Factoring allows businesses to skip the unreliability and drama of today’s bank loans and lack of lending.

There is a very good chance your Florida business is growing and you are actively billing. Problems arise when you have to put out more material, more labor, more payroll expenses rather than are coming in. The fact is, you need cash now, not in 30-60-90 days. With working capital so precious and difficult to find, invoice factoring can help finance your business.

What is a Typical cost of Factoring for Florida Businesses?

Factoring fees are based on length of time for payment from your client. Below is an example chart of how fees work based on timeframe.

Fees vary based on your unique funding situation.

Length of Time for Payment Invoice Factoring Rate
20 days 1.00%
30 days 1.50%
45 days 2.50%
60 days 3.00%

Keep in mind that a good factoring company will work with you based on your customer’s payment history and make sure your terms are favorable to you.

Your customers pay in a particular pattern. If your customers all pay in 37 days, then a fee based on 30-day increments would be slightly more costly. That’s because you will end up paying additional factoring fees based on the extra seven days. Factors can design your fees based on your unique situation – daily, 10-day increments, 60-day flat fee, etc.

How does Funding Work for Florida Companies?

Take your Accounts Receivables and turn them into immediate cash flow in as little as 24 hours. This is not a commercial loan which means you are not taking on any new debt. Freight companies to IT staffing to wine distributors all benefit from this powerful form of funding. Think low factoring rates, lightning-fast approval, and credit protection all within a great funding option for your company. Great factoring companies provide all these benefits and more.

Our Newest Funding Transactions in Florida

  • Product / Industry: Remodeling Contractor
  • Location: St. Johns, FL
  • Funding type: Factoring

  • Product / Industry: Contractor for Property Management Company
  • Location: St. Johns, FL
  • Funding type: Factoring

What types of Florida Industries Benefit from Factoring?

Historically, the economy of Florida was dependent on agricultural products such as vegetables, citrus, sugar, cotton, and cattle. In the twentieth century, tourism, industry, construction, international banking, biomedical and life sciences, healthcare research, simulation training, aerospace and defense, and commercial space travel have contributed. Any service-based or product-based company can leverage the benefits of factoring receivables if your company supplies larger, creditworthy clients.

Phosphate mining, concentrated in the Bone Valley, is the state’s third-largest industry. The state produces about 75% of the phosphate required by farmers in the United States and 25% of the world supply, with about 95% used for agriculture (90% for fertilizer and 5% for livestock feed supplements) and 5% used for other products.

Since the arrival of NASA launch sites on Cape Canaveral (most notably Kennedy Space Center) in 1962, Florida has developed a sizable aerospace industry. Invoice factoring is ideal for aerospace suppliers providing services and products to companies such as Boeing, Raytheon, SpaceX, Honeywell, Lockheed Martin and many more.

Another major economic engine in Florida is the Military. There are currently 24 military bases in the state, housing three Unified Combatant Commands; U.S. Central Command in Tampa, U.S. Southern Command in Doral, and United States Special Operations Command in Tampa. There is 109,390 U.S. military personnel currently stationed in Florida, contributing, directly and indirectly, $52 billion a year to the state’s economy.

Government contractors in Florida are an ideal candidate for invoice factoring and purchase order financing. Contact us for more information.

Here is a list of just some of the Florida locations and client types that have benefited from Factoring Services:

Need Fast Funding for your Florida Company? Call us toll-free at (954) 335-3139 or complete our secure online funding application.

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