BusinessCash is funding during the COVID-19 crisis.

Factoring in South Dakota

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
  • All industries including Oil and Gas
  • Credit protection with every factoring program

Since 1998 we have proudly served the state of South Dakota with Accounts Receivable Invoice Factoring and Purchase Order Funding.

Purchase Order Funding

South Dakota’s largest industry is the service sector. This includes the retail, finance, and healthcare industries. Citibank established national banking operations in South Dakota in 1981 to take advantage of favorable banking regulations. The government provides over ten percent of the gross state product with Ellsworth Air Force Base, being the second-largest single employer in South Dakota.

CNBC’s list of “The Top States for Business for 2010” has recognized South Dakota as the seventh best state in the nation.  In July 2011, the state’s unemployment rate was 4.7%.

Although, not quite as much currently, Agriculture has been an important aspect of the South Dakota economy. The five most valuable agricultural products in South Dakota are cattle, corn, soybeans, wheat, and hogs.  Agriculture-related industries such as meat packing and ethanol production also have a considerable economic impact on the state.

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 Dakota 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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