BusinessCash is funding during the COVID-19 crisis.

Factoring in South Carolina

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

Since 1998 we have proudly served  South Carolina with Accounts Receivable Invoice Factoring and Purchase Order Funding.

Purchase Order Funding

South Carolina’s agricultural products include tobacco, poultry, cattle, dairy products, soybeans, hay, rice, and swine. Industrial products include textile goods, chemical products, paper products, machinery, automobiles, and automotive products and tourism.   The service sector accounts for 83.7% of the South Carolina economy.

Many large corporations have relocated to the state. South Carolina is a Right to Work state and many businesses enjoy lower costs of labor.

South Carolina has 1,950 foreign-owned firms employing almost 135,000 people.  Foreign Direct Investment (FDI) brought 1.06 billion dollars to the state economy in 2010.

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 South Carolina 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.

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