Sometimes businesses need access to quick cash in order to pay expenses or fund new opportunities. Maintaining sufficient working capital, however, can be difficult—this is true for businesses of all sizes. In many cases, traditional financing options, such as bank loans for small businesses, aren’t available. Luckily, even businesses with poor credit can benefit from factoring, a type of asset-based lending that has helped many companies overcome their temporary cash flow problems. As one of the premier factoring companies active today, Overnite Capital is here to help your business survive and thrive.
Factoring goes by several names, such as capital credit factoring and accounts receivable financing. With factoring, a company sells its outstanding invoices to a third-party organization known as a factor—like Overnite Capital. Once the invoices have been verified, Overnite will send payment to your business within 24 to 48 hours. It’s that simple. It’s a great way to secure timely financing!