Factoring in Illinois

Need working capital now? Can’t wait 30 – 90 days for your Accounts Receivable to be paid? We can help with your cash flow and so much more. 

  • 92% cash advanced to IL businesses receiving the balance once your client pays in full
  • Fast and easy financing 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

The Land of Lincoln State of Illinois has turned to Businesscash.com since 1998 for Business Loans, Accounts Receivable Invoice Factoring and Purchase Order Funding.

Illinois is one of the nation’s manufacturing leaders, boasting annual value-added productivity by manufacturing of over $103.75 billion in 2017.

About three-quarters of the state’s manufacturers are located in the Northeastern Opportunity Return Region, with 38 percent of Illinois’ approximately 18,900 manufacturing plants located in Cook County. As of 2006, the leading manufacturing industries in Illinois, based upon value-added, were chemical manufacturing ($18.3 billion), machinery manufacturing ($13.4 billion), food manufacturing ($12.9 billion), fabricated metal products ($11.5 billion), transportation equipment ($7.4 billion), plastics and rubber products ($7.0 billion), and computer and electronic products ($6.1 billion).

By the early 2000s, Illinois’ economy had moved toward a dependence on high-value-added services, such as financial trading, higher education, law, logistics, and medicine. In some cases, these services clustered around institutions that hearkened back to Illinois’ earlier economies. For example, the Chicago Mercantile Exchange, a trading exchange for global derivatives, had begun its life as an agricultural futures market. Other important non-manufacturing industries include Agriculture, Export, and Mining.

What is a Typical cost of Factoring?

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.

Here is a list of just some of the Illinois client types we have helped with their Working Capital Needs and the Services we provided:

Ready to get funded? Call us toll-free at 866-598-4295, complete our secure online funding application or chat with us.

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