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Invoice Factoring Companies In New York City, NY
Could Your Company Benefit from Factoring?
If you’re a company that is looking for alternative forms of financing you may be interested in contacting a factoring company. Factors are companies that will pay you a percentage of one of your business’s uncollected invoices, they then collect the invoice from your client directly. This can be a useful way to receive capital if you have clients who often take considerable time to pay invoices. The factoring company will most likely research your client and their payment history prior to proceeding with any funding agreements. This is because your client is who is ultimately responsible for paying the invoice. This article will list some of the largest factoring companies in New York City.
CIT is a large factoring company with a well-established presence in New York. They work with over 300,000 clients and have been in operation for over a century. If you’re looking for a factoring company with considerable experience in the industry that also has a fully functioning web-portal, CIT may be the company to go with. In addition, they are one of the few factoring companies that will also fund international invoices if you have overseas clients.
Alliance One specifically caters to small and mid-sized businesses. Their central office is located in New York and the majority of their customers are from the region. They have an online application service that will allow you to see if your eligible for their services. They also issue clients with factoring loans on brand new contracts.
Star Funding is a local New York factoring company that operates with a range of mid-sized firms in the area. They also both purchase order funding and receivables funding if your business requirements are not cut-and-dry. They’re located in the heart of the city on 37th street.
If you’re looking for an established factoring company that also has international capabilities, CIT Group is probably your best option in New York. But Alliance One and Star Funding are great options for smaller companies looking to customize a factor funding requirement.