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Invoice Factoring Companies In Detroit, MI
Detroit, Michigan is famous around America for its automobile industry. In recent times its economy has slowed down due to the global financial crisis. This has led to a range of small businesses opening to pick up the slack of the former heavyweights. If you own a small business in Detroit and you suffer from short-term cash flow problems, you should contact an invoice factoring company to see if they can provide you with liquidity. Factoring companies offer a range of financing options that purchase your invoices for an upfront advance. They then own the rights to collect from your clients when the invoice matures. This article lists some of the best invoice factoring companies in Detroit.
Hennessey Capital
Hennessey Capital is a Michigan based factoring company that services various firms in Detroit. Its primary office is in Rochester, Michigan. The firm specializes in a variety of industries including distribution, healthcare, and trucking. Although they can cater to other companies if you enquire within.
Sterling Commercial Credit
Sterling Commercial Credit is another invoice factoring company located in Michigan. They are headquartered in Brighton, but cater to a wide variety of Detroit businesses operating in different industries. They also provide clients with other forms of commercial credit. If you’re looking for a long-term financing company that will be able to understand your business and its needs, Sterling Commercial Credit is your best option.
Invoice Advance
Invoice Advance is a nationwide invoice company with prevalence in many American regions. One of their largest hotspots is Detroit, Michigan. The company can deposit cash into client accounts within 24 hours of approved applications. They also have an easy-to-use online calculator that can help you find out the amount of financing you could receive through invoice factoring.
Verdict
Being a historically large manufacturing city, Detroit has plenty of options when it comes to financing. Invoice Advance and Hennessey Capital are great firms to go with if you’re looking exclusively for factoring services. But Sterling Commercial Credit can provide clients with full financial solutions.
