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Invoice Factoring Companies In Kansas City, MO
Kansas City is one of the largest cities in the Midwest. The region is largely dominated by the agriculture industry, but Kansas City is a thriving city with a diverse range of supported industries. If you’ve started a small business in the region, you may be finding it hard to get the support you need to grow your firm. Traditional bank loan applications are lengthy and complicated. With invoice factoring, you simply sell your invoice to a factoring company for a cash advance. They are then responsible for collecting the invoice from your client directly. This is a great way to get finance without ever having to take on any debt. Here are some of Kansas City’s most popular factoring firms.
TransAm Financial Services
TransAm Financial Services is one of the few factoring companies located in Kansas. They have great tools for their clients: 24-hour access to funds, online document uploading, and automatic approval. Unfortunately, if you’re not a freight or trucking company TransAm won’t be able to take you on board.
RTS Financial
RTS Financial is another Kansas based factoring service with a large emphasis on freight. Unlike TransAm, RTS Financial takes on invoices from a wide variety of industries. Some of their secondary expertise includes textiles, healthcare, and oilfield invoicing. Clients can view their information online through RTS Financial’s online portal.
Paragon Financial
Paragon Financial is the only out-of-state factoring service mentioned in this list. They are a large online factoring service that has clients from across the nation. They’ve been partnering with Kansas City clients for over twenty years. They’re popular because they provide 90% of your invoice in advance – much higher than the industry standard. You can apply for funding directly through their website.
Verdict
Despite Kansas City’s isolation, the local business community has access to some great factoring companies. If you want a local partner and you don’t work in freight, use RTS Financial for your factoring needs. Paragon Financial is great for a business seeking an online platform and industry experience.
