BusinessCash is funding during the COVID-19 crisis.

Factoring in New Mexico
Since 1998 has proudly served the Land of Enchantment New Mexico with Business Loans, Accounts Receivable Invoice Factoring and Purchase Order Funding.

Oil and gas production, tourism, and federal government spending are important drivers of the state economy. The state government has a system of tax credits and technical assistance to promote job growth and business investment.

New Mexico is the third leading crude oil and natural gas producer in the United States.   In 2005 the federal government spent the highest ratio of each dollar collected in tax revenue $2.03 in New Mexico vs any other state.

New Mexico provides a number of economic incentives to businesses operating in the state, including various types of tax credits and tax exemptions.  The state provides financial incentives for film production. In a four year period, The New Mexico Film Office estimated that the incentive program had added $1.2 billion to the economy.

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.

Purchase Order Funding

Need working capital now? Can’t wait 30 or 60 days for your Accounts Receivable to Pay? We can help…

  • Up to 92% of cash is advanced to you
  • 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

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

Ready to get funded? Call us toll-free at (888) 400-5930, complete our secure online funding application or chat with us.

Rating: 5.0/5. From 1 vote.
Please wait...

Back to Top